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After 23+ Year Wait, The Fontainebleau In Las Vegas Opens Doors With Red Carpet Event

Fontainebleau Las Vegas, a project woven with 23 years of struggling development, has finally had its curtain lift. On Wednesday, December 13, the Fontainebleau Las Vegas, a $3.7 billion undertaking, held its grand opening, a VIP red carpet event that led to the opening of its doors to the public just before midnight. Accommodation for guests arriving for the event, however, was meticulously planned as parking provisions were offered at the Las Vegas Convention Center’s West Hall and valet services were made available prior to the opening of the Fontainebleau’s parking garage at 1 a.m. Thursday, and the venue’s rideshare drop-off at 2 a.m.

The genesis of the celebrated property reaches back to 2000, when Jeffrey Soffer, Fontainebleau Development’s chairman and CEO, first purchased the land with a vision of a grand resort. In 2007, Soffer’s team began working on bringing this vision to life, with grand inauguration plans set for 2009. However, like many ambitious enterprises around the globe, the 2008 recession stalled their efforts and pushed the project into bankruptcy.

Following this unfortunate turn of events, in 2010 the Fontainebleau was snapped up by Icahn NV Gaming Acquisition LLC for a mere $150 million, and then it was passed onto developer Steve Witkoff for $600 million in 2017. Witkoff set eyes on a 2022 completion date that, unfortunately, was derailed by the onset of the global COVID-19 pandemic.

Yet, like a phoenix rising from its ashes, the Fontainebleau re-surfaced as Soffer and Fontainebleau Development re-acquired the project in 2021. After securing $2.2 billion in new funding, they worked tirelessly to bring the Fontainebleau project back to life, ensuring that its original grandeur was not compromised but only enhanced.

Finally opening its doors after years of trials, the Fontainebleau, now operated by the company’s subsidiary, Bowtie Hospitality LLC, is a true testament to the resilience of its developers. The resort has remained loyal to its initial vision, hosting a 67-story tower containing 3,780 hotel rooms and suites, and spanning 550,000 square feet of convention and meeting spaces. A casino, restaurants, retail spaces, health and wellness centers, and additional high-end amenities all contribute to its magnificence.

According to the Las Vegas Convention and Visitors Authority (LVCVA), based on current trends and a strong 2023, LVCVA projects Las Vegas area visitor volume to surpass 42 million in 2024. This represents a potential 5% increase over 2023 – a near return to pre-pandemic levels. Additionally, the state projects Southern Nevada’s population to add 1.1 million people by July 2024. This influx could translate to an increased number of residents visiting Las Vegas throughout the year.

In addition to its grandeur, the opening of the Fontainebleau Las Vegas has brought with it significant opportunities for the local economy. The resort will provide approximately 6,000 full-time jobs, a noteworthy contribution to the city that is already known for its vibrant economy.

For more information, visit: www.fontainebleaulasvegas.com.

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