{"id":1029,"date":"2017-05-03T13:42:06","date_gmt":"2017-05-03T13:42:06","guid":{"rendered":"https:\/\/casinous.com\/?p=1029"},"modified":"2021-04-09T13:13:51","modified_gmt":"2021-04-09T13:13:51","slug":"fontainebleau-covers-up","status":"publish","type":"post","link":"https:\/\/casinous.com\/fontainebleau-covers-up\/","title":{"rendered":"Fontainebleau in Las Vegas to Cover Up"},"content":{"rendered":"

Dave<\/a> | May 3, 2017 | Updated on: April 9th, 2021<\/p>

The Fontainebleau in Las Vegas has been serving as a rather unpleasant reminder of the recession that hit the United States back in 2009. Thankfully, the current owner of the building has had plans to put a wrap around the bottom three floors, approved.<\/p>\n

\"Fontainebleau<\/p>\n

The owner, Carl Icahn, submitted an application for permission to cover up the unfinished construction project and this permit was finally approved. The only stipulation is that work on the building needs to begin within the next three months.<\/p>\n

<\/span>Fontainebleau sits Empty<\/span><\/h2>\n

The Fontainebleau building is the second tallest building located in Las Vegas. It is constructed on the same land that used to be home to the El Rancho Hotel, which was demolished back in the year 2000, after shutting down in 1992.<\/p>\n

The Fontainebleau Resort was a huge undertaking by its developer, who spent two years and $2 billion on the project. This\u00a0was until 2009 when the company went bankrupt, and the building has remained unfinished since then. It is estimated that around 70% of the project was complete, with another $1 billion worth of construction to go before completion.<\/p>\n

The wrapping of the bottom floors will be the first major construction at the location in nearly ten years and is expected to cost around $500\u00a0000.<\/p>\n

<\/span>Icahn waiting for Fontainebleau gamble to pay off<\/span><\/h2>\n

Icahn bought the project back in 2010 for around $150 million. He has had no desire to be in the casino business, nor did he plan on completing it. Soon after Icahn took ownership, he put it up for sale, with an asking price of $650 million. It is estimated\u00a0that any buyer would need to invest another $1.5 billion to complete the 3900-room resort. It was reported\u00a0that the Mohegan Tribal Gaming Authority made an offer in 2016. However, this was rejected by Icahn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dave | May 3, 2017 | Updated on: April 9th, 2021The Fontainebleau in Las Vegas has been serving as a rather unpleasant reminder of the recession that hit the United States back in 2009. Thankfully, the current owner of the building has had plans to put a wrap around the bottom three floors, approved. The […]<\/p>\n","protected":false},"author":7,"featured_media":1030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3697,14232,14229],"tags":[],"yoast_head":"\nFontainebleau Casino Resort in Las Vegas to be Covered Up<\/title>\n<meta name=\"description\" content=\"The unfinished Fontainebleau Resort in Las Vegas is set to get a wrap to cover the unfinished construction work, while the owner waits for a buyer.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/casinous.com\/fontainebleau-covers-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fontainebleau in Las Vegas to Cover Up\" \/>\n<meta property=\"og:description\" content=\"The unfinished Fontainebleau Resort in Las Vegas is set to get a wrap to cover the unfinished construction work, while the owner waits for a buyer.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/casinous.com\/fontainebleau-covers-up\/\" \/>\n<meta property=\"og:site_name\" content=\"Best Online Casinos USA - 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