Vegas’ newest resort is a $3.7 billion palace, 23 years in the making

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Vegas’ newest resort is a $3.7 billion palace, 23 years in the making
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At 67 stories, the Fontainebleau Las Vegas is the tallest hotel in Nevada.

By Christopher Palmeri, Bloomberg NewsOn Dec. 13, the Florida-based developer will open Las Vegas’ newest resort, a $3.7 billion palace with seven pools, 36 restaurants and bars, as well as a private club on the top floor with spectacular views of the skyline.

Soffer said he just believed strongly in the concept, bringing a version of his family’s Fontainebleau resort in Miami Beach to America’s gambling capital. The Florida hotel has been a playground for the rich and famous since opening in 1954. Designed by architect Morris Lapidus, the beachfront property is most notable for its expansive pool area, where James Bond played cards against villain Auric Goldfinger in the 1964 film Goldfinger.

“All the successful properties, there’s a charismatic person at the head,” said Howard Karawan, who worked with Soffer on his first attempt at opening the resort. “Jeff is certainly that, and he has a great circle of friends.” The Strip’s last big opening, Genting Group’s $4.3 billion Resorts World Las Vegas in 2021, sits almost across the street from the Fontainebleau. It recently offered midweek room rates as low as $99 a night, even as total visitor traffic to Las Vegas has risen to nearly pre-pandemic levels. Fontainebleau plans to have rates at its 3,644 rooms start at $300 a night.

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