Exclusive | Casino mogul Steve Wynn drops the price by $105M for 2 homes he has struggled to sell for years

You Wynn some — and you lose some.Casino mogul Steve Wynn is rolling the dice and relisting his Ritz-Carlton penthouse for $70 million.That’s after coming up craps when he tried to sell it two years ago in hopes of only recouping its purchase price.Wynn also hopes for a wash on the West Coast, where his opulent Beverly Hills compound just went under contract for roughly $50 million, the same price he paid for it a decade ago.The offloading efforts for the two properties came within days of each other at the end of June and represent massive progress for extravagances Wynn has tried to unload for years.Both properties’ prices have jumped around like balls on a roulette wheel, with the California mansion priced as high as $135 million, followed by subsequent markdowns to the $50 million level.Wynn bought the 27,000-square-foot, 11-bedroom California enclave, known as Villa Lulu, in 2015 for $47.9 million from Guess fashion co-founder Maurice Marciano. In New York, Wynn purchased the Ritz-Carlton duplex for $70 million in 2012, listed it for $90 million in December 2022, slashed the price to $65 million, then withdrew the listing in early 2024 before its current relisting at $70 million.Regardless of whether the price has been a moving target or not, “The property is spectacular, based on its size and its views,” said Deborah Grubman of the Corcoran Group, which shares the New York property’s listing co-exclusively with Sotheby’s International Realty’s Serena Boardman.The two-floor 50 Central Park South residence spans almost 11,000 square feet, or the size of a private plane hangar that can fit 1,500 people.Its living room alone once served as the original hotel’s grand ballroom and now features 15-foot-high ceilings and 10 giant arched windows, five of which look out over Central Park. For all its size, the residence only has three bedrooms, massive ones to be sure, plus four full baths and two half baths.The bedrooms are located downstairs in pr...