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Steve Wynn clears $8 million on Palm Beach home flip

Steve Wynn clears 8 million on Palm Beach home flip


Steve Wynn may no longer run Vegas — but he still knows how to score on a major bet.

The former casino tycoon cleared a cool $8 million on a Palm Beach home flip after owning the property for just one year, records show.

Riding Palm Beach’s real-estate tidal wave, 1040 North Lake Holdings LLC purchased the 6,687- sq. ft. home in April of 2021 for $24 million, real estate documents show.

That entity is controlled by Wynn and attorney Kim Sinatra, records state.

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

Located on glitzy North Lake Way, the renovated pad on the coveted Intracoastal waterway boasts five bedrooms and six baths along with a pool and dock.

040 North Lake Holdings LLC sold the luxury estate to an unspecified buyer for $32 million.
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Home.
The renovated home boasts five bedrooms and six baths along with a pool and dock.
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Palm Beach has seen real estate prices soar in recent years thanks to an ongoing influx of the famed and flush into the area.

While Wynn secured a tidy profit on the space, the final sales number came in well under the $38 million asking price and took roughly two months to move.

The former gaming magnate has bought and sold homes in Palm Beach for years — usually at a sizable profit.

Steve Wynn.
Steve Wynn has bought and sold homes in Palm Beach for years.
Jerod Harris/Getty Images

With a fortune pegged at $3.3 billion by Forbes, the businessman founded Wynn Resorts and was considered a gaming-industry leader for decades.

Now 80, Wynn was forced to step down after being hit with a rash of sexual misconduct allegations four years ago.



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