Steve Wynn collects $8 million in Palm Beach home flip

Steve Wynn may not be running Vegas anymore – but he still knows how to score on a big bet.

The former casino tycoon has made a cool $8 million from a home flip in Palm Beach after owning the property for just a year, records show.

Horseback riding at Palm Beach real estate tidal wave1040 North Lake Holdings LLC acquired the 6,687 square foot home in April 2021 for $24 million, Show real estate documents.

That unit is controlled by Wynn and attorney Kim Sinatra, the records said.

After just 12 months, Wynn’s LLC sold the luxury home last week for $32 million to an unspecified buyer.

Located on the glittering North Lake Way, the renovated pad on the coveted Intracoastal Waterway features five bedrooms and six bathrooms, as well as a pool and dock.

Home.
040 North Lake Holdings LLC sold the luxury home to an unspecified buyer for $32 million.
Google Maps
Home.
The renovated home features five bedrooms and six bathrooms, as well as a pool and dock.
Google Maps

Palm Beach has seen real estate prices soar in recent years thanks to a continued influx of celebrities and people to the area.

While Wynn made a decent profit on the floor, the final sales figure was well below the asking price of $38 million and took about two months to move.

The former gaming magnate has been buying and selling homes in Palm Beach for years — usually for a sizable profit.

Steve Wynn.
Steve Wynn has been buying and selling homes in Palm Beach for years.
Jerod Harris/Getty Images

With a net worth of $3.3 billion from Forbes, the businessman founded Wynn Resorts and was considered a leader in the gaming industry for decades.

Wynn, now 80, was forced to resign after being beaten a spate of allegations of sexual misconduct four years ago.

https://nypost.com/2022/04/25/steve-wynn-clears-8-million-on-palm-beach-home-flip/ Steve Wynn collects $8 million in Palm Beach home flip

Dais Johnston

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