Fontainebleau takes major step toward opening
Fontainebleau, the hulking blue north Strip skyscraper that has been a symbolic reminder of the Great Recession, took a major step toward rebounding to the casino-resort developers initially envisioned with a unanimous recommendation of approval from the Nevada Gaming Control Board.
If the Nevada Gaming Commission concurs at its Nov. 16 meeting, Fontainebleau and its top executives would be licensed to operate after Wednesday’s vote.
Owners plan to open the 3,644-room resort with its 173,000-square-foot casino on Dec. 13.
The $3.7 billion, 67-story resort — the tallest occupiable structure in the state — was first proposed by Fontainebleau Development CEO Jeffrey Soffer in 2005, and construction began two years later. But the financial crisis that began in late 2007 led to Soffer abandoning the project in 2009.
The building’s ownership changed hands several times, including a stint during which corporate raider Carl Icahn held it as an investment. Ownership returned to Soffer in February 2021 with a partnership with the real estate division of Kansas conglomerate Koch Industries.
Soffer and partner Brett Mufson, president of Fontainebleau Development, also were recommended suitable to operate the resort.
Mufson told the board that Fontainebleau would hire a total of 7,100 employees, 5,000 of them full time, and that 1,850 already have been hired.
Board members spent about 40 minutes questioning Soffer, Mufson and other executives and found no major issues with the application. The board recommended approval in a preliminary suitability hearing for executives in July.
“We are certainly happy to see that this 20-plus-year project is coming to fruition as I’m sure you are as well,” Control Board Chairman Kirk Hendrick told the applicants. “I’m also happy to see this is fixing and rejuvenating that portion of the Las Vegas Strip that has been dormant for so long, so thank you for that.”
The property’s design plays up texture and bright blue and gold throughout the building, as seen on a recent exclusive first-look tour with the Review-Journal. The simplified bowtie logo — the Florida-based parent company is called Bowtie Hospitality LLC — can be found throughout the public and private spaces: on the casino carpet, in the glass chandeliers, in the shape of the wayfinding signs, on drawer handles in the rooms and more.
The resort has several nods to its sister property on Miami Beach, such as a lobby bar named after Collins Avenue and pillars throughout the public spaces that reference the Florida hotel.
Fontainebleau Las Vegas will have 36 restaurants and bars, and its casino will be the second-largest in Las Vegas behind Wynn and Encore. The property’s casino will operate six private gaming salons for high-rollers.
The property’s race and sports book will be operated on Station Casinos’ STN-branded platform.
Fontainebleau expects to take advantage of its proximity to the Las Vegas Convention Center with future corridors planned between the resort and the Convention Center’s West Hall.
Before the meeting, in a public comment period, representatives of the Teamsters union said they may picket Fontainebleau’s opening to protest labor relations issues.
In an emailed statement, Fontainebleau said its focus is on getting regulatory approvals to open the property.
“Our primary focus remains on the upcoming opening of Fontainebleau Las Vegas on Dec. 13, 2023, pending regulatory approvals,” the statement said. “We are committed to ensuring an incomparable experience for our guests, as well as developing an exceptional working environment and culture for our team members.”
In other business at Wednesday’s meeting, the board recommended approval of Circa Hospitality Group’s bid to operate a satellite sportsbook at the Silverton.
The board also recommended approval of Circa’s planned licensure as an information service to set sports odds.
The Nevada Gaming Commission will consider final approval Nov. 16.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.
