You are here: Home / Fontainebleau Las Vegas in Chapter 11: Ceiling Collapses at Miami Hotel

Fontainebleau Las Vegas in Chapter 11: Ceiling Collapses at Miami Hotel

Fontainebleau

Fontainebleau Las Vegas, a $3 billion resort project on the Las Vegas Strip, filed for bankruptcy-court protection late Tuesday, the project's owners said.

The filing comes after a protracted battle with a group of lenders who pulled out of an $800 million loan needed to finish building the hotel and casino resort -- one of the most lavish planned for Las Vegas.

It has not been the best week for the Fountainbleau group, which holds an  ownership interest in the Fontainebleau Miami Beach.  The Miami resort suffered damage this past Friday when part of its lobby ceiling collapsed during a storm that put much of Miami Beach under water.  This is after nearly $1 billion was spent on renovating the property, which reopened to much fanfare just two months ago.

Gambling911.com reports that the resort was fully operational as of Sunday but couldn't help but notice the 8 foot area of missing ceiling tiles.  Damage totals were not immediately known.  

Category: , , ,

Business/Financial

  • Liverpool
    Liverpool Boots Ladbrokes With Online Sportsbook 188Bet
    Asian online sportsbook operator 188Bet has replaced the United Kingdom’s largest bookmaker as sponsor for Liverpool FC according to reports.
  • MGM to Report Financial Results Thursday
    Investors are regaining their interest in casino and hotel companies now as they sense that the economy is turning around. But it will take some more time for major casino and hotel companies to positively surprise investors. Wynn Resorts earnings were weak although there was a hint of turning around. Wynn Resorts' earnings announcement is followed by MGM Mirage.
  • Las Vegas Sands Loses $123 Mil in Third Quarter
    Casino operator Las Vegas Sands Corp. said Thursday it lost more in the third quarter this year than last as gambling markets continued struggling and the company pressed ahead on developing a resort in Singapore.
  • World Poker Tour Acquisition Offer
    Mandalay Media, Inc. (OTC Bulletin Board: MNDL) today announced that it has submitted a proposal to the Board of Directors of WPT Enterprises, Inc.(NASDAQ:WPTE) to acquire WPT for $35 million in cash and stock
  • Bodog Europe Could Buy Tote
    Victoria Bates of City AM reported exclusively on Thursday that Bodog Europe is lining up to potentially by the Tote, just weeks after the government put the bookmaker on the block as part of plans to sell off £16bn worth of state assets to reduce the burgeoning pile of public debt.
  • Betfair, William Hill Going to Enter India
    Britain's biggest betting companies are bidding for the first online gambling licence in India to gain a slice of the country's $60bn (£37bn) betting market.
  • Government Doesn’t do Much for Wynn … or Does it?
    Las Vegas casino magnate Steve Wynn has lately been sounding a bit like his arch rival, Sheldon Adelson, the tough-talking owner of Las Vegas Sands who doubles as Republican fundraiser and conservative ideologue.
  • William Hill Profits Unaffected by Football Results
    British bookmaker William Hill said profit expectations at its retail business had been unaffected by a run of punter-friendly football results.

User login