Dec. 25--Construction of Steve Wynn's Le Reve megaresort is now expected to get under way by March, with a planned December start delayed by excavations on the Desert Inn site, Wynn's brother said. 

Steve Wynn said in October that he anticipated beginning construction on his water-themed Le Reve project by the end of December. 

Kenny Wynn, director of Wynn Development & Design, said recently that construction was held up by delays excavating the basement levels of the Desert Inn's 14-story Augusta Tower, which was imploded Oct. 23 to make way for the new resort complex. 

"The excavation is a complicated process," Kenny Wynn said. "We have to remove the entire basement to make way for the (Le Reve) foundation." 

Steve Wynn recently forecast a 28- to-30-month construction timetable for his planned 2,455-room, 42-story hotel tower and a man-made lake. If his forecast holds, Le Reve would open by September 2004. 

Wynn paid Starwood Hotels & Resorts $270 million last year to acquire the Desert Inn. 

Wynn was traveling and was unavailable to answer questions about financing for the project. In October Wynn said he anticipated beginning financing efforts late this year. 

"We've turned down offers for money," Wynn said at the time. "We're not ready for financing until November, before we begin construction." 

Wynn said Le Reve would cost about $1.6 billion, about the same amount he spent to build Bellagio while at the helm of Mirage Resorts. He plans to sell public debt, but not to sell stocks in his Wynn Resorts company. 

Le Reve, which is French for "the dream," and the name of a Picasso masterpiece owned by Wynn and his wife, Elaine, will feature two major theaters. 

Wynn said he's hired Franco Dragone, who directed both of Cirque du Soleil's Las Vegas productions, "O" and "Mystere," to produce a show about a remote Himalayan tribe, a tribe whose children can fly, but only until they are 11 years old. 

A young man's quest to regain the power of flight will be the show's focus. 

Entertainment is the key to keeping Las Vegas fresh and exciting, Wynn said. 

"It's not gambling, and you can't just build rooms," Wynn noted. "Entertainment is art, and there's no guarantees in art." 

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