Over the past few years, two firms have shelled out billions of dollars for casino real estate along the Strip.
Now they are plowing a fortune into a long-planned resort with a tumultuous history: the Fontainebleau.
Last month, developers of Fontainebleau Las Vegas announced they secured a $2.2 billion construction loan to finish the towering hotel-casino. The group of lenders includes casino landlord Vici Properties, which said it’s putting up to $350 million into the deal, and financial giant Blackstone, which is spending $500 million, according to people familiar with the matter.
The 67-story Fontainebleau is scheduled to open in the fourth quarter this year, almost two decades after Florida developer Jeffrey Soffer initially unveiled plans for the resort in 2005.
