Fontainebleau Las Vegas Approved for December Inauguration

Article by : Erik Gibbs Nov 21, 2023

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After securing approvals from state gaming regulators through four appearances, the Fontainebleau Las Vegas, with a staggering $3.7 billion investment, is gearing up for its long-anticipated opening in just over three weeks.

The culmination of this debut has spanned 16 years, marked by myriad financial challenges and a significant shift in ownership. Jeffrey Soffer, Fontainebleau CEO and original developer, emphasized the journey’s significance during a meeting with the Nevada Gaming Commission.

The commission, which deliberated for 30 minutes, granted Fontainebleau Development, the Miami-based operators of the 3,700-room north Strip resort, a gaming license.

Soffer expressed gratitude for the commission’s trust and confidence, deeming the approved gaming license a pivotal milestone.

The resort is set to welcome the public on December 13, commencing with an exclusive black-tie reception.

Notably, Grammy Award-nominated artist Post Malone is slated to headline the inaugural New Year’s Eve weekend festivities in the resort’s 3,800-seat BleauLive Theater on December 30-31.

Mark Tricano, President of Fontainebleau Las Vegas, conveyed to commissioners their intentional effort to keep the resort under wraps until the grand opening to make a significant impact in the market.

The 67-story building, unfinished for a decade, holds a storied history, with the property being about 70% complete before financial troubles led to a halt in construction in June 2009.

The property changed hands multiple times over the years, including ownership by Carl Icahn and Steve Witkoff, who planned to rename the building The Drew, only to face setbacks due to the pandemic.

In 2021, Soffer, in collaboration with Koch Real Estate Investments, reacquired the property, outlining plans to finalize the project and positioning it as a critical element in revitalizing business prospects on the north end of the Strip.

The expansive Fontainebleau will house a 150,000-square-foot casino boasting 1,300 slot machines, 128 table games and accommodations for 36 restaurants.

The casino will feature more than 18,000 square feet dedicated to high-limit gaming, encompassing a slot area with 105 games and a private gaming salon hosting three table games: blackjack, baccarat and European roulette.

Red Rock Resorts secured licensing to provide the technology platform, oddsmaking services and risk management for the operation of Fontainebleau’s 14,000-square-foot race and sportsbook.

Notably, the location will not carry the STN Sports brand, and the staff will be Fontainebleau employees. A poolside gaming area will also be part of Fontainebleau’s offerings.

The hotel tower, housing 3,644 rooms and suites, will be solely operated by Fontainebleau Development, distinguishing itself from other Strip operators that often collaborate with hotel companies like Hilton and Marriott.

Spanning 25 acres, Fontainebleau maximizes its land use, featuring a 6.5-acre outdoor pool deck atop low-rise portions of the building. The deck comprises seven pool areas and an outdoor terrace designed for special events.

Situated three levels above the hotel-casino’s parking garage, the 550,000-square-foot conference center is a notable addition.

Fontainebleau officials envision a future connection linking the property to the West Hall of the adjacent Las Vegas Convention Center, a development that was nonexistent when construction halted in 2009.