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Tuesday, April 17, 2007

Australian Firm Buys Into The Fountainbleau High Rise Condo Hotel Project on the Las Vegas Strip

Will the $2.8 billion dollar Fountainbleau high rise project in Las Vegas ever get moving and eventually get built? It might, now that Australia's largest gaming operator just bought a 20% stake in the development. Publishing & Broadcasting Ltd, owned by James Packer will now be a partner with Fountainbleau Resorts (aka Turnberry) in the development of the proposed 63-story hotel casino, comprised of 3,889 hotel rooms and high rise condo hotel units.

The developer says the project will open in the fall of 2009, but that seems like a very ambitious timeframe. However, a lot can happen when you bring $250,000 million dollars to the table... We'll keep an eye out on the progress of this development.

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