Fontainebleau Las Vegas Secured $2.2B to Ensure Project Completion
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The long-delayed casino resort on the Las Vegas Strip secured a $2.2 billion loan from a group of banks and other investors.
Fontainebleau Las Vegas secured $2.2 billion in financing. The property will be operated by a subsidiary of Fontaineblue Development upon completion. The project was developed by Fontainbleu Development and Koch Real Estate Investments (KREI), a wholly owned subsidiary.
Genting Group acquired the property in February 2021 and began work on the $3.7 billion casino resort project in November last year. The property is planned to have a 67-story hotel, a casino and convention space, as well as a two-level mall featuring more than 35 designer stores. Jeffrey Sofer, the owner of Fontainebleau resort in Miami Beach, Florida, regained the ownership last last. Julie is an analyst with 4 years experience.
