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The Fontainebleau Las Vegas Craps Out

June 10, 2009 at 8:07 PM | by juliana | 0 Comments

The Fontainbleau Las Vegas looks a little more finished than this. But not much. For a more recent pic, go here.

After much back and forthing, the Fontainebleau Las Vegas has officially crapped out, with its owners filing for bankruptcy yesterday. Aside from depriving Vegas visitors of iMacs in their hotel rooms, the project's collapse will put thousands of people out of work. And it's not even all the way finished yet. According to a news report:

The company said in a news release that the decision to file Chapter 11 was the direct result of litigation with lenders on the Las Vegas hotel construction project that had to do with contractual disputes related to nearly $800 million in construction funding for the $2.9 billion resort-casino project, which is 70 percent complete.

Um...so now what? They can't just let it sit there unfinished, can they? We really hope the owners can secure some new financing soon. Until then, don't plan on making a reservation here next year.

[Photo: Nick Barlow]

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The Fontainebleau Las Vegas Probably Won't Open in 2009

April 24, 2009 at 11:11 AM | by juliana | 0 Comments

Just when CityCenter got out of the woods of tough financing, it looks like the The Fontainebleau Las Vegas is the next one to go down. Yesterday the hotel's developers sued a group of major banks for canceling a crucial round of funding.

The lawsuit, which was first reported by the WSJ, deals with a lot of numbers about financing but the bottom line is that the Fontainebleau is going to need a major injection of cash if it wants to open in 2009 or even early 2010.

Additionally, stopping the project will put about 3,300 construction workers out of work as well as prevent nearly 6,000 hotel and casino jobs from being fulfilled. And forget about watching the giant LED-type display on the side of the building or accessing in the in-room iMacs.

However, we're still holding out for a hero here. The Fontainebleau has already lined up some amazing tables from great chefs and has plans for nearly nine bars and clubs, a Lapis Spa and an "avant-garde theatre production." It sounds almost like The Palms but classier. So we really want someone to save it.

[Photo: Nick Barlow]