Casino investors pay huge sums to own resorts on the Strip, given the windfalls of cash they hope to get from the properties.
But not every real estate deal in the corridor ends well. Here’s a look at three high-priced sales on Las Vegas Boulevard that did not go according to plan.
When developer Steve Witkoff bought the Fontainebleau for $600 million, he raised hopes that the long-stalled project would finally open. It eventually did — but not by him.
Witkoff and partners acquired the unfinished hotel-casino in 2017 and later unveiled its new name, Drew Las Vegas, saying it would feature two Marriott brands and debut in late 2020.
