Fontainebleau Hail Mary: Struggling Resort to Buy Site Next Door for $112.5 Million

From Vital Vegas

https://www.casino.org/vitalvegas/fontainebleau-hail-mary-struggling-resort-to-buy-site-next-door-for-112-5-million/?fbclid=IwZXh0bgNhZW0CMTEAAR3F352Zsih6Xu-4yUu1rRB7eAM-NgcG1qXzu_4_EEqweCiyMkkYvzgKQBg_aem_AVVV-N_44pYicrAaEZyToAhC0UrMqqqQ05_ETNo-a8AosGDx69S8mqYCtlcsLxPrzRk0AzL3ijyQtePDFx259uRR

 Somewhat interesting reading, but the livelihood/demise of this place has no effect on me since I have yet not set foot there - and have no intentions of doing so. If they - or  any other Vegas property - wants my business, they will have to get rid of the paid parking. How do these morons think they are going to generate "foot traffic" if people refuse to come because of paid parking? 

I'd be shocked if this place doesn't go Ch 11 by the end of the year.   Spent a couple days there recently, midweek, and there's almost nobody around.   Pit had under a dozen players during afternoon.   High limit slots only had a couple people during the few hours I spent there one morning.    No chance they're generating the cashflow needed to service the enourmous levels of debt.  

Banged away on their 8/5 bonus in high limit for a bit.  Theos were garbage but heard mail might be okay.   We shall see....

They have no decent video poker pay tables or reasonable minimums on their 3:2 blackjack games (not sure we should have expected them to since they paid Timberlake $6 million to show up on opening night). Their early expectations re: customer draws / foot traffic failed pretty miserably. However, somebody upstairs eventually realized that no matter how immaculate and visually stunning their resort might be, they still need butts in seats. Food prices across the options are steep, too. But the rooms were appealing mostly because they were comped.

We gambled on some progressives there for two half-days during our Feb. trip, involving a low / moderate amount of coin-in.They sent a 4-night comped room offer + $300 free play and we booked it and stayed there during the first week of May 2024. Additionally they offered a tier match promo ( we did the match and didn't have to pay for parking including valet during the May trip ); they've now extended that promo until September 2024. Whether those above customer draw moves took place too late for them to withstand the crushing debt remains to be seen..who knows? 

  Makes me wonder just how obtuse and oblivious they must be not to recognizine the need for foot traffic. Millions of people visit Vegas yearly - there has to be some incentive for more of them to visit other than "nice rooms" and a beautiful casino. I realize I am stating the obvious - I wonder when the management will wake up to reality.

8/5 Bonus for $1 and up doesn't qualify for decent on Strip when combined with their initial bounceback mailer?   Or were you referring to under the dollar level? 

What was the value of your bounceback mailer? In general, yes..under $1 level.

They suffer the same issue as Resorts World.  No foot trraffic outside so If you arent staying there there's no reason to visit.    They need something to draw in people.   Doesnt have to be gambling.   The WYnn has an awesome buffet.    Bellagio has the gardens.    MGM grand has KA.     

What does FB or Resorts World have?   I have no answer off the top of my head.    Hence no reason to go.

Resorts World has the Here Kitty, Kitty Vice Den.