Last updated: 03:24 PM ET, Thu April 07 2016

Wynn Resorts Is Building a Beach on The Las Vegas Strip

Hotel & Resort | Patrick Clarke | April 07, 2016

Wynn Resorts Is Building a Beach on The Las Vegas Strip

Photo courtesy of Wynn Resorts

Wynn Resorts is looking to bring something new to the Las Vegas strip.

At an investor conference Wednesday, the company revealed plans for an epic resort expansion that would center on a 38-acre lagoon equipped with an island, beach and boardwalk.

Tentatively known as Wynn Paradise Park, the project would also comprise 260,000 square feet of meeting and event space, a 1,000-room hotel tower and a small casino as well as several new restaurants and nightlife venues. 

READ MORE: The Park Opens in Las Vegas

If the ambitious first-ever recreational lake concept comes to fruition — keep in mind the expansion must still be approved by Wynn Resorts' board of directors — guests could participate in water sports by day and take in fireworks after nightfall.

"We have a chance to reinvent Las Vegas and make the whole venue an entertainment idyllic beach paradise surrounded by white sand beaches," said Wynn Resorts chairman and CEO Steve Wynn in a statement.

"People come to Las Vegas from all over the world to live large and have a good time and we can dish up an irresistible entertainment attraction," he added.

Much like a theme park, visitors would be required to pay admission to enter Wynn Paradise Park. 

READ MORE: 3 Trends That Will Define Vegas in 2016

The company estimates that the project could cost as much as $1.6 billion. 

If ultimately approved, the massive expansion would be constructed on the 130 acres of real estate that's currently home to the Wynn Golf Club.

There's currently no timetable on when the expansion could be green lit. However the company will be debuting a new luxury retail complex, Wynn Plaza in Las Vegas in the fall of 2017. Once completed, the  75,518-square-foot space will supplement the existing retail space at Wynn Las Vegas and Encore. 

This week's announcement comes amid an ongoing legal battle between Wynn and his ex-wife and former board member Elaine Wynn. 

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