Biggest flop in Vegas history?

Just north of the Riviera, Fontainebleau Las Vegas was/is a 3,889-room, 68-story hotel/condo/casino development begun in 2007 that has suffered a nearly $2 billion loss. After having $3 billion in loans for the project, in May 2009 with construction about 70% complete (and it had become the tallest structure in Las Vegas), the CEO Glenn Schaeffer abruptly left the company. Bank of America, the largest lender, subsequently refused to continue to provide financing and Fontainebleau filed for Chapter 11 bankruptcy in June 2009. Construction stopped with over $2 billion invested in the 70% complete building. At the time, the cost to complete the resort was estimated at about $1 to $1.5 billion.

In February 2010, by being the only qualified bidder, Carl Icahn, assumed majority ownership of the project for a mere $150 million (nearly $2 billion less than what had been spent on it to that point).

Later in 2010, Icahn auctioned off furnishings (rugs, furniture and mattresses) previously intended for the building to the Plaza Hotel who used them for refurbishment of the Plaza in 2011.

Currently, plans for the Fontainebleau are on hold, because based on its size, design, location, as well as deterioration of the existing improvements and the economy, the project is not financially feasible to complete. It likely will have to be at least partially torn down or possibly even fully torn down.


ST

Don't be dissin' Saint Ronnie, or many tears will be shed and tantrums will be thrown.

The only person I have seen throw tantrums is you or perhaps your boyfriend Nesalk. Criticizing Reagan the entertainer is perfectly acceptable within the bounds on non-political topics provided that stupid political jabs like yours aren't thrown in there.

DonDiego nominates the opening of the Flamingo Hotel and Casino in 1946.

Eventually it turned out OK, . . . but not before entrepreneur "Bugsy" (Don't Call Me 'Bugsy') Siegel sitting in Virginia Hill's Beverly Hills home reading the Los Angeles Times was shot dead through a window with a .30-caliber military M1 carbine.
Moral: Read the Los Angeles Daily News.

How about MGM Grand's theme park (forgot what it was called) during the late '90s.

Yeah, Elvis really didn't have a great opening the first time he appeared in Vegas. Fortunately he forgave everyone and came back to be the biggest headliner that Vegas has ever had.

From an entertainment perspective, I'm thinking maybe "Spamalot" at the Wynn? They specifically created a theatre for it and it only lasted a few months? Was a great show on Broadway but I guess it just wasn't something that would sell out every night in Vegas.

Bushman

When the Luxor opened they had some kind of barge on the Nile to shuttle you to the rooms and around. Was gone before I could visit.

Actually, Spamalot ran for a little over a year in Vegas, and it was great fun! John O'Hurley played King Arthur - we still laugh about the way he hammed up the role! We saw it a couple times during it's run, and it was usually close to full each time. It was in the Grail theatre that had previously been called the Broadway and was used for "Avenue Q". They changed the theatre name from the Broadway, and renovated/extended the balcony to address issues that arose during the Avenue Q run to make it work for Spamalot. When that closed , it was for Danny Gans' show to take over, and it was renamed again to the Encore theatre. Unfortunately, Gans died just a few months later. I think they now use that theatre for Garth Brooks (but I'm not sure - I don't listen to country, so I have not seen his show)

How about that show where I made my grand Vegas premier....