Wynn bought it for a reported $336 million and said in a release that they plan to develop it in the future, but gave no specifics.<\/strong><\/p>\n<\/div>\nEx-NBA player Jackie Robinson\u00a0expanded his North Strip project in October to include 2,000-rooms, and a 63-story hotel tower to his plans, as well as a 240,000-square-foot conference center, 24-lane bowling alley, 2,500-seat showroom and hotel wedding chapel.<\/p>\n
Too Little Too Late<\/h2>\n
All the activity might not come soon enough to save the SLS though. The resort on the former sight of the Sahara has struggled since opening in 2014. They have been the object of several lawsuits, including one filed a week ago by 60 Chinese investors.<\/p>\n
They contend there were promised U.S. permanent resident cards\u00a0in exchange for $545,000 each but have not received the documents. They also claim the resort is near bankruptcy.<\/p>\n
Original owners Stockbridge Capital Partners sold the resort to Reno casino owner Alex Meruelo in May for an undisclosed sum. Negotiations continue and the deal may not be finalized until sometime in 2018. Meanwhile the resort is reportedly continuing to lose money.<\/p>\n
The last time the company revealed its finances was September 2015 when they stated they had $584 million of long-term debt outstanding.<\/p>\n","protected":false},"excerpt":{"rendered":"
The new owners of the Fontainebleau have renamed it Project Blue and are hoping to get the abandoned resort project in the black. New York developer Steve Witkoff\u00a0and Miami investment firm New Valley\u00a0are resuming construction and there may be hope that the long-vacated tower on the north end of the Las Vegas Strip might be […]<\/p>\n","protected":false},"author":42,"featured_media":65709,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18,1],"tags":[],"acf":[],"yoast_head":"\n
Fontainebleau becomes Project Blue with Hope for Revitalized North Las Vegas Strip<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n