Steve Wynn Lowers Asking Price on Beverly Hills Mansion by $10 Million
Steve Wynn Reduces Price on Luxurious Beverly Hills Estate
Steve Wynn has once again lowered the asking price of his expansive Beverly Hills estate, continuing his ongoing search for a buyer for this prestigious luxury property. The 80-year-old casino magnate now lists the home in Benedict Canyon for $65 million, which is $10 million less than the price set earlier this year and a significant $70 million drop from its initial $135 million price in 2020.
An Estate of Grand Proportions
Even with the price reduction, this estate remains one of the priciest private residences currently available in Los Angeles. The home offers over 27,000 square feet of living space and is beautifully situated at the end of a secluded, private road. Its vast size and high-end amenities resemble the luxury typically found in Wynn’s renowned hotel and casino properties rather than a standard home.
Wynn acquired this property in 2015 for approximately $48.7 million. He collaborated with Roger Thomas, his longtime design partner famous for shaping the interiors of Wynn and Encore resorts, to undertake a major renovation. This transformation added about 8,000 square feet and converted the home’s style from traditional to a modern, gallery-like design.
The estate features 11 bedrooms, including four guest suites intended for extended visits. Interior spaces are enclosed in glass to showcase breathtaking city views. Highlights include a private screening room, wine cellar, massage suite, and extensive areas for entertaining. Outdoors, the estate is complemented by a tennis court, a swimming pool, and generous lawns.
Steve Wynn’s Strategy to Downsize His Real Estate Holdings
Despite the property’s luxury and features, the estate has seen four different asking prices since being listed, signaling Wynn’s eagerness to secure a buyer. This aligns with a broader effort to streamline his personal real estate assets.
Earlier this year in April, Wynn also lowered the price on a penthouse located at 3101 Boardwalk in Atlantic City from $4 million to $2.2 million. This penthouse was once his residence during the time he managed the Golden Nugget casino, which he opened on the Atlantic City Boardwalk in 1980 after replacing an old motel.
These real estate transactions reflect Wynn’s remarkable career, which has made him one of Las Vegas’s most influential developers. He played a key role in the development of Mirage Resorts and Wynn Resorts, steering these ventures through some of the most transformative eras on the Las Vegas Strip. For now, the Benedict Canyon mansion remains on the market, and though the latest price cut has sparked renewed interest, it is uncertain if a buyer will soon emerge.
