fontainebleau marks regulatory validation after 16 years of construction-a 3.7 billion-dollar investment After 16 years of construction, Fontainebleau Development, the initial developer of the Fontainebleau Las Vegas resort, has finally received regulatory validation to open the property, which is estimated to be worth $3.7 billion. The casino-resort project has undergone multiple hearings before Nevada gaming regulators, and has finally been given the green light to open its doors in just over 3 weeks. This milestone comes after a long and arduous journey. The resort initially began construction in 2007 but encountered financial difficulties and construction was halted. Two years ago, Fontainebleau CEO Jeffrey Soffer repurchased the unfinished building and has been working to complete the project. Following the recent approval of a gaming license, Soffer expressed his gratitude to the commission members for their trust and confidence in the resort. The grand opening of the 3,700-room North Strip resort is scheduled for December 13, and will feature a private, luxury, black-tie reception. Grammy-nominated singer Post Malone will headline the opening weekend of New Year’s Eve festivities with a show at the complex’s 3,800-seat BleauLive Theater. Leading up to the grand opening, the operators have kept the resort under wraps from the public, with the aim of making a splash in the market. The property’s development costs exceed $3.7 billion, including a $2.2 billion construction funding secured in December. The project was approximately 70% complete in 2009 when construction was abandoned due to financial issues. The building changed ownership multiple times before Soffer repurchased it in 2021. The resort is anticipated to employ 7,100 individuals, with plans to hire 6,500 employees by the grand opening. The property will offer a 150,000-square-foot casino, 18,000 square feet of high-limit gaming areas, 36 restaurants, and a 550,000-square-foot conference center. Additionally, Red Rock Resorts will provide odds-making services for the property’s 14,000-square-foot sportsbook and racetrack. The property is expected to create a significant impact on the north end of the Las Vegas Strip.