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Casino Mogul Steve Wynn Turns Small Profit on L.A. House

The home sold for $16.55 million last week

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Casino and hotel mogul Steve Wynn’s latest deal tested an old maxim that "the house always wins."

Mr. Wynn just managed to squeeze a profit off his Los Angeles-area mansion, which he bought three years ago for $16.25 million and sold last week for $16.55 million, according to property records. It was a win for Mr. Wynn in the end, as he had at one point last year listed the home for as low as $15.85 million and found a buyer at that price, listing records show.

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The modern Mediterranean-style home comprises nearly one acre in the posh Platinum Triangle enclave, which straddles Bel Air and Holmby Hills. Mr. Wynn’s former home was one of 12 houses that border the Bel Air Country Club.

The buyer of the home is not yet listed in online public property records, though The Los Angeles Times, which first reported the sale, named the buyers as plastic surgeon Sheila Nazarian and her husband, neurosurgeon Fardad Mobin. The buyers were not immediately available for comment.

The main house, built in 1991, has five bedrooms, eight bathrooms and around 11,000 square feet of space, according to the listing with The Agency, which confirmed the final sale price.

The front door, framed by palm trees, opens onto a sweeping double staircase leading to the second level, photos of the home show.

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A series of living spaces on the first floor include a family room with a bar and views overlooking Bel Air’s golf course. Likewise, the master bedroom has a private balcony with views over the green, in addition to dual bathrooms, a fireplace and walk-in closets, according to the listing.

The backyard has a pool and terraces with space for outdoor dining. The home also has a media room, a fitness area with a sauna and steam room, maid’s quarters and its own putting green.

Mr. Wynn could not immediately be reached for comment.