..

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

Written by:
Guest
Published on:
Jun/10/2009
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.  

Business/Financial News

Bitcoin SV is Revving up for Potentially Unlimited Scale

Bitcoin SV is Revving up for Potentially Unlimited Scale

With the latest release of its software. Switzerland-based industry organization the Bitcoin Association has announced the release of the Bitcoin SV Node software v1.0.7 in an effort to boost up for potentially unlimited scale.

Why Bitcoin Could Triple Over Next Year

William Quigley, managing director of Magnetic, a crypto focused investment fund, explains why he believes that bitcoin's value can still rise dramatically into 2022.

Why The Supply of Bitcoin is Limited

Why The Supply of Bitcoin is Limited

In an editorial piece appearing on the Coingeek.com website, Dr. Michael Wehrmann discusses the limitations of Bitcoin.

Cathie Wood Backing Sends Bitcoin Back Above $50K

Cathie Wood Backing Sends Bitcoin Back Above $50K

Ark Investment boss Cathie Wood told Bloomberg Tuesday evening she remains "very positive on bitcoin," and is "very happy to see a healthy correction here."  This may have helped push the cryptocurrency price above the $51,000 mark overnight.  But there are other factors perhaps.

Craig Wright Begins Landmark Legal Action Against Bitcoin Developers, Others

Craig Wright Begins Landmark Legal Action Against Bitcoin Developers, Others

Dr. Craig Wright, an Australian computer scientist who claims to be the inventor of bitcoin, is now suing the developers of BTC, BCH, BCH ABC and BSV over 111,000 stolen Bitcoin, according to an announcement by ONTIER.

Syndicate