Date Posted: December 13, 2023, 08:09h.
Last updated on: December 13, 2023, 08:09h.
Fontainebleau Las Vegas officially opens after 16 years of unexpected development hurdles. The resort became the Strip’s newest casino as of December 13, 2023, and its journey to completion was nothing short of tumultuous.
Nearly Bleau It
Construction on Fontainebleau Las Vegas commenced in 2007, but the real estate bubble burst and subsequent Great Recession of 2008 posed significant setbacks for the project. With $770 million in funding from Bank of America and JP Morgan Chase canceled, the $2.8 billion project went bankrupt.
For nearly a decade following the bankruptcy, the structure remained mostly incomplete and stood as a symbol of economic hardship in the area.
Billionaire Carl Icahn acquired the unfinished resort in a bankruptcy auction for $150 million, later selling it for a substantial profit. The property was then redeveloped by Steven Witkoff before facing further challenges due to fires, funding issues, and the COVID-19 pandemic.
The Fontainebleau was eventually reacquired by its original owners and developed into a luxurious casino resort, ending 16 years of construction struggles. The opening marks a new era in Las Vegas hospitality.
Now open to the public, the Fontainebleau Las Vegas promises to deliver the ultimate luxury hospitality experience. Follow the full story of its journey here.