The "soft" opening of a restaurant, nightclub, hotel-casino, etc. indicates the day when the doors first open for business to the general public, but predates any "grand-opening" party, when the property feels it's ready to trumpet its presence to the media and VIPs with a big-bang red-carpet affair.
In a worst-case scenario, a soft opening is brought about by the imperative of hitting a previously announced debut deadline that isn't quite ready to be met and might even mean that construction is still under way. The much-delayed Venetian was one of the worst offenders in Vegas history, while the current writer remembers the inauspicious debut of the Aladdin -- now Planet Hollywood -- when the valet and front-desk staff were all sporting hard hats on opening night, which was somewhat disconcerting, to say the least.
Other times, it's more about giving staff a chance to iron out any little last-minute glitches that only come to light when you're operating with real guests and to make sure that everything's running like the well-oiled machine you planned before you're under the full glare of the spotlight. It's similar to when a new show is in "preview-performance" mode, when the producers get a chance to check out real audience reactions and make the odd final tweak before the reviewers are invited in.
If you're determined to sample a new venue in its infancy, be prepared for the fact that, whether it's a new neighborhood restaurant or a major Strip resort, in the period between a "soft" and a "grand" opening, you should be open to cutting the place a little slack with regard to understandable birthing problems; in return, any self-respecting debuting property should welcome suggestions and constructive feedback about room for improvement.