Former casino billionaire mogul Steve Wynn has sold his expansive Beverly Hills estate for $47.75 million, which is $62.25 million less than its original asking price.
Winn Sold His Estate
Steve Wynn has finally sold his sprawling Beverly Hills estate, but the sale price highlights the dramatic slowdown in California’s ultra-luxury housing market. The disgraced former casino mogul’s 27,000-square-foot mansion, known as Villa Lulu, was sold for less than the $48 million Wynn paid for the property in 2015. Of course, this is several hundred thousand less than what he originally bought the property for, but that’s still just pocket change for the billionaire.
That being said, Wynn did put millions in renovations in the property over the past few years. It seems that the whole idea behind this was to sell the property for a large profit, as the casino mogul listed it for sale for $110 million in 2021. Listing agent Leonard Rabinowitz of Christie’s International Real Estate described the sale as “disappointing.”
However, he noted that it still stands as Beverly Hills’ highest-priced home sale of 2026. Rabinowitz further explained that the buyer “got a deal,” while noting that Wynn is unlikely to lose any sleep over the financial hit. Considering Wynn is estimated to have a net worth of over $3.7 billion, that seems to be the case.
Wynn is no stranger to flipping high-end property sales. In fact, it sems that’s his new business, or expensive hobby. Since leaving the casino industry in 2018 amid a sexual misconduct scandal, Wynn, has remained quite active in the luxury residential real estate market, buying and selling high-end properties. In fact, he even transferred a $32 million estate to his stepson earlier this year as a way to settle a family feud.
What Does the Mansion Offer?
Working alongside the home’s original architect, William Hablinski, Wynn expanded the residence by nearly 8,000 square feet. The interiors were redesigned by Wynn Resorts’ longtime design chief, Roger Thomas, while renowned landscape architect Robert Truskowski transformed the grounds.
The finished estate spans 11 bedrooms and features multiple kitchens, staff accommodations, a private cinema, a wine-tasting cellar, a wellness wing, a tennis court with air-conditioned spectator seating, and a resort-style pool complex complete with its own lanai. A private road leads to the gated property, which also includes a backup generator capable of powering the entire estate for more than a week. Parking is equally expansive, with a garage and carport providing space for up to 26 vehicles.
In other news related to Wynn, the Macau casino that carries his name recently had a guest with dengue fever stay at the property, prompting city officials to launch a mosquito extermination campaign around the resort to limit the spread of the virus.