Improbable Las Vegas Strip Casino Project Gets Good News
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It takes billions to build something on the Las Vegas Strip. Some projects get announced as a way to make it easier to raise money to actually build them. Fontainebleau Las Las has changed hands multiple times and has been on and off the track. It is now on track again. It reminds us that making a bet on Las Nevada Strip can always leave you broke. The Caesars Entertainment (CZR) - Get Free Report, MGM Resorts International, and Wynn Resort (WYNN) are the biggest investors in the Strip, but they are not as competitive as Caeres Entertainment.
Fontainebleau has been delayed for 20 years. The resort casino will open in late-2023. It will be located on the north end of the Las Vegas Strip. Caesars and MGM dominate the south and central strips. Resorts World Las Las Vega is an Oasis in a wasteland. Fontaineblue will provide another anchor tenant to drive tourists to the area.
Fontainebleau Development has secured a $2.2 billion construction loan to build a 67-story hotel, gaming, meeting, and entertainment destination on the Las Vegas Strip. The resort/casino is expected to open in the fourth quarter of 2023. It will cover 25 acres and nine million square feet.
