Wynn Resorts has announced an agreement to buy the empty lot on Las Vegas Boulevard where the New Frontier once stood, which is across the Strip from the Encore.
Wynn said in a statement Wednesday it will pay $336 million for that 34-acre lot, as well as four additional acres connected to the site.
It isn’t yet known what the gaming company intends to do with the property, but the purchase is considered a step forward for the struggling north Strip.
New investors stepped in early this year to buy the mothballed Fontainebleau north of the empty New Frontier site.
Meanwhile, Wynn plans to start construction in January of Paradise Park - a 47-story hotel on the site of the Wynn Golf Course.
