Will Fountainbleau ever be completed?

Related question, had the FB and Echelon been completed, would the Sahara have remained open?

Quote: Nareed

Related question, had the FB and Echelon been completed, would the Sahara have remained open?

I'd vote no on that... however, the property wouldn't be dormant. "Old Vegas" seems to be dead on the strip, and it's just a matter of time before Riviera is gone too. I think Sahara would have been razed to make room for another big property, maybe an Asian themed destination. There would have been an attraction to create a new resort specifically targeted to that demographic.

Quote: Nareed

Related question, had the FB and Echelon been completed, would the Sahara have remained open?

That's a tough question. In any normal downturn the FB and Echelon would have been completed. If there was enough business for them, it would seem that there would be enough business for Sahara.

A more interesting question is if the New Frontier and Stardust had remained operating would the North Strip have remained intact as a low cost destination. I vote YES on this question. My argument is that downtown survived two decades of stagnant revenues by simply constantly cutting costs. Without the burden of huge interest payments you have a lot of flexibility with operating costs. You limit hours on the restaurants, or close bars here and there. You cut back on comps, etc. Within reason you can usually remain profitable given that revenue doesn't nosedive.

Another blogger has noted that Fountainbleau was built with 70,000 tons of steel, and with the price of steel at $900/ton, there's $63.5 million worth of scrap metal to be mined. (This doesn't include Fountainbleau's copper piping.) On the other hand, mining that metal won't be easy. Or cheap.

Quote: reno

Another blogger has noted that Fountainbleau was built with 70,000 tons of steel, and with the price of steel at $900/ton, there's $63.5 million worth of scrap metal to be mined. (This doesn't include Fountainbleau's copper piping.) On the other hand, mining that metal won't be easy. Or cheap.

Wow, now we are talking about pennies on the dollar, when you are talking about knocking down a 700' tower for scrap. The FB is unprecedented in American construction.

There has to be a point in time when the Riviera and Circus Circus shut down. The Hilton is doing poorly. Since the Convention Center is not going to shut down, there will eventually be a need for the FB. The recovery of scrap is not going to be an issue,

Quote: pacomartin

If Fountainbleau gets demolished it will set a world record for height (63 floors and 735') and obviously as one of the few buildings demolished without being used.

It is going to get demolished and its not going to make any headlines at all.

It will be a two-step process.

Step one will be: Rename it The Porte Cochere.
Setp two will be: Give it to Steve Wynn.

Quote: pacomartin

There has to be a point in time when the Riviera and Circus Circus shut down. The Hilton is doing poorly. Since the Convention Center is not going to shut down, there will eventually be a need for the FB. The recovery of scrap is not going to be an issue,

Back in the 70s & 80s, the Hilton was one of the hot spots in town. I assume that these days the Hilton's niche is catering to the convention crowd, and yet even with all those conventions the aging Hilton isn't doing well. If Riviera or Circus Circus shut down, would the Hilton bounce back?

I can't imagine that the closure of Circus Circus would entice Icahn or any other owner to invest $1 billion to finish the Fountainbleau. This town already has an excess capacity of rooms, and there's no way that the upscale Fountainbleau would pursue the lowbrow Circus Circus customers accustomed to spending $39 on a room.

Quote: reno

Back in the 70s & 80s, the Hilton was one of the hot spots in town.

I remember when the Hilton was hot, but it was only
because Elvis played there. In my mind, the place has
been a dump for the last 20 years.


Elvis Hilton

Ichan is no fool. I think he will sit on the property for another six years (when the economic stimulus of the next change in White House administrations kicks in), and then sell the whole kit and kaboodle. The new owners will take a huge federal/state/county supported mortgage to finish the project. It will get done... someday.

I've been to almost every strip and downtown casino, and plenty off strip. I've still never been to the Hilton, despite all I have heard about the sports book there.

I guess I should put it on the list for the next trip...