Land-Based Jeffrey Soffer

Fontainebleau Las Vegas

2777 Las Vegas Blvd

Based in Las Vegas, Fontainebleau is operated by Fontainebleau Development and opened in 2023.

Facilities

The casino division of Fontainebleau will span over 150,000 sq ft, with 18,000 sq ft (1,700 m2) of this space assigned to high-limit gaming. 

Fontainebleau has 1,300 slot machines, including both classic and modern titles as well as live dealers on 120+ tables. 

The high-limit gaming area has 105 slots and three types of table games offered; blackjack, baccarat and European roulette.

The race and sportsbook had its technology platform, oddsmaking services and risk management services provided by Red Rock Resorts, but it will not be STN Sports branded. Instead, it will operate as a Fontainebleau product.

There is also a poolside gaming area, where customers can wager beside one of the pools.

History and Renovations

The property was initially opened as the Thunderbird Hotel and Casino in 1948, before going through various iterations until it was demolished in 2000 by Turnberry Associates, who had purchased the land for $45m earlier that year.

Fontainebleau Resorts, a resort hotel company, was co-founded in 2005 after the founders purchased the Fontainebleau Hotel in Miami Beach, Florida. One of the co-founders, Jeff Soffer, was the Chairman and majority owner of Turnberry Associates.

Later in March 2005, Turnberry Associates paid $97m to purchase additional acreage at the property, for a total of 25 acres. 

On May 12, 2005, Fontainebleau Resorts and Turnberry announced the Fontainebleau Las Vegas project, which would operate as a casino and hotel resort and be the second of a planned chain of branded resorts.

Construction began in February 2007, with a projected cost of $2.8bn and an anticipated opening ceremony to take place in the Fall of 2009. Fontainebleau Resorts secured around $4bn in funding from banks, media and insurance corporations. 

Technically, the first renovation was undertaken before the initial construction was even completed. In 2007, the garage was approved to be increased by 23 stories. 

Although not uncommon for construction to proceed without plans being finalised, especially with Las Vegas Resorts, this led to several problems with the Fontainebleau Las Vegas. By 2009, the casino and hotel rooms had undergone several redesigns.

This would become important when in April 2009, the banks alleged that the project had gone over budget and that Fontainebleau wanted $1.3bn in debt to be forgiven. Several lawsuits would be filed from both sides throughout the year, but ultimately, Fontainebleau filed for Chapter 11 bankruptcy on June 9, 2009. During this time Schaeffer also left the project, despite being the anticipated operator for the casino.

Despite Fontainebleau Las Vegas seeking another $656m loan from the banks, the institutions didn’t believe that this would be enough to finish construction, which was at 70% complete at the time.

In 2010, Carl Icahn took ownership of Fontainebleau Las Vegas after bidding around $160m. The project would remain untouched under Icahn until it was sold for $600m to Witkoff Group and New Valley LLC in August 2017.

The project was renamed The Drew and was anticipated to open in late 2020. Witkoff partnered with Marriott International on February 12, 2018. 

However, in March 2018, a man committed arson on the construction site, causing $10m in damages and delaying the design work. Construction work was then suspended in 2020. 

Finally, in February 2021, Soffer bought back the property through Fontainebleau Development for $350m. The partnership with Marriott International was dissolved, as Fontainebleau Development stated that it would own and operate the hotel itself.

The Fontainebleau Las Vegas eventually opened on December 13 2023, which was 6,789 calendar days since it was initially announced.

Operator Information

After buying back the property, Soffer announced that the Fontainebleau Las Vegas would be operated by Fontainebleau Development.

Non-gaming facilities

Hotel

The Fontainebleau Las Vegas has 3,644 rooms and suites for guests, ranging from King Guest Rooms up to the Fontainebleau’s Fleur de Lis collection of suites.

Restaurants 

At the time of opening, there are 36 restaurants and bars at the property. This includes both fine dining experiences, a coffeehouse and casual dining. 

Entertainment 

The BleauLive Theater is a 3,800-seat venue that hosts a range of musical acts, including Post Malone for a New Years 2023 celebration. The Fontainebleau Las Vegas also hosts the LIV Las Vegas nightclub.

Spa & Fitness Center

The Lapis Spa at Fontainebleau Las Vegas offers a range of services, including massages, sand bathing, facials and body scrubs. 

There is also a nail salon and fitness facility, the latter of which hosts cutting-edge gym equipment and wall-to-wall windows with views of the Las Vegas city lights.

Pools

Fontainebleau Las Vegas has announced that it will open seven luxury pools, distinctive private cabanas and more in the Spring of 2024.

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