Two Way Hard Three | Las Vegas Casino & Design Blog

This time on the show:

Mr. DeRuyter Butler, Executive Vice President of Architecture @ Wynn Design & Development is our special guest.

We discuss Cotai, Fontainebleau, his role at Wynn D&D as well as CityCenter and challenges of working in China. Plus, we find out that Sheldon has been giving us all the middle finger since 1999.

This is a 'don't miss' interview.

If you love casino design, construction and all the thinking behind it, check it out.

Check out the show: http://www.vegasgangpodcast.com

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

Treasure Island owner Phil Ruffin doesn't seem to think CityCenter was such a hot idea. Ok, that might be a bit of monday-morning-quarterbacking but he's also going out on a limb to say Cosmo is doomed, in his talk with Nevada journalist Jon Ralston.

He also revealed that his $1B offer for The Mirage was turned down by MGM's board just over a year ago.

http://www.mynews3.com/category.php?id=5392&n=5035

Ruffin's typically one of the more restrained casino owners when it comes to making public comments. Interesting to see him coming out full on, including bashing President Obama.

This time on the show:

* Fontainebleau + Ichan
* Resort Fees
* Harrah's + Planet Hollywood
* Harrah's iPhone App

* Vegas Gang Trivia Episode #1

Check out the show: http://www.vegasgangpodcast.com/2010/01/vegas-gang-43-january-21st-2010

Feel free to leave comments below. Trivia questions can be sent to editor@ratevegas.com - we might use yours on the show.

According to the Las Vegas Sun, it appears that financier Carl Ichan will probably end up as the new owner of the Fontainebleau project, the hulking shell of a half-finished hotel looming over the north end of The Strip.

http://www.lasvegassun.com/news/2010/jan/19/carl-icahn-take-ownership-fontainebleau-las-vegas-/

It's not clear yet exactly when, or even if, the project would be restarted.

This time on the show:

* Dr. Dave Tours CityCenter
* Hunter Stays at Vdara
* Jeff Explains How Harrah's Can Buy P-Ho
* Fontainebleau Drama Continues

http://www.vegasgangpodcast.com/2009/12/vegas-gang-41-december-11th-2009/

This time on the show:

* Hunter Tours CityCenter
* Fontainebleau
* Global Gaming Expo 2009

I believe we'll have someone from MGM Mirage Design Group on a future episode, not too far away. Feel free to submit questions here.

http://www.vegasgangpodcast.com

Perennial bridesmaid Penn National Gaming made a formal bid for the shut-down Fontainebleau project on the Las Vegas Strip today - the bid: $50 million. Bidding ends January 15th, 2010.

The project has incurred over $1.5 billion in construction costs and is estimated to require perhaps a similar amount to complete to original specification.

If Penn pulls this off, they'll have their first Las Vegas Strip presence - something they've toyed with for some time... If this does happen, Jeff Soffer is going to enter the gaming disaster hall of fame, right next to new-Aladdin developer Jack Sommer... Sommer? Soffer? Odd name similarity there... Anyway...

http://www.lasvegassun.com/news/2009/nov/17/penn-nationals-bid-sets-auction-fontainebleau/

Update: Since this was written, Penn National has been outbid by a group lead by investor Carl Icahn: http://www.lvrj.com/business/fight-for-fontainebleau-72364182.html

Really cool video that David posted on Stiffs and Georges showing the interior of the FBleau project as it stands.

Does it look 70% complete? I know the last 30% would be basically all the finishes but it seems far off that mark to my untrained eye.

Video embedded after the jump.

Pulitzer Prize winning journalist Alexandra Berzon, in her new gig as a WSJ reporter, has a story up on WSJ.com discussing the Fontainebleau project on the North Las Vegas Strip.

The story examines one of the most looming issues for FBleau - there are potential bidders but the place will need $1.2 to $2.0 billion in work before it can welcome any guests - the numbers just don't pencil out.

That location, without all of the other projects that are now delayed or shelved, combined with the collapse of the condo market, means that the project is worth a mere fraction of what it would have been.

Prospective buyer Penn National Gaming may be ready to submit a bid - and it may be as low as $300 million.

We'll see how this all shakes out.

http://online.wsj.com/article/SB10001424052748704882404574465874047672190.html (Subscription Required)

I can't really imagine a scenario in which the project is imploded for a re-do - even at close to zero, it seems it would be cheaper to buy this and finish it... right?

New episode is up: http://www.vegasgangpodcast.com

We discuss:

* Planet Hollywood + Harrah's?
* Fontainebleau + Penn Nat'l?
* Stanley Ho's SJM
* Niche Marketing @ Monte Carlo
* Gaming Figures
* Aria

Do you have questions for MGM Mirage's Alan Feldman? He'll be our guest at Vegas Podcast-a-palooza in October. Leave your question in a comment and we'll consider them for the show.

Fascinating article today in the Sun about the fast-paced world of design and construction on the Las Vegas Strip.

Cost overruns and safety issues at projects like Fontainebleau and City Center have highlighted the massively iterative nature of the design process, sometimes at the cost of millions.

http://www.lasvegassun.com/news/2009/jun/28/practice-building-designs-are-done-hits-wall-fonta/

Happy to be back after a little bit of a break. Lots to talk about, as always.

We discuss:

* MGM Mirage Expands to Egypt
* Tropicana Atlantic City Sells to Ichan
* Fontainebleau Files Chapter 11
* City of Dreams Opens on Cotai

Also, check out WinoTripping.com and Vegas Mate 2.

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

Not a big surprise given the funding problems they ran into when the banks pulled their last $800 million but it's still worth noting that this is bad news.

http://www.lasvegassun.com/news/2009/jun/09/fontainebleau-developer-files-bankruptcy/

Thanks to reader 'G' for sending this to me.

Former Mandalay Resort Group executive Glenn Schaeffer is out as the top dog at Fontainebleau Resorts. This is another *major* blow for the company that is already struggling with financing problems related to its Strip resort.

http://www.lvrj.com/news/breaking_news/46476427.html

Happy to be back after a little bit of a break. Lots to talk about, as always.

We discuss:

* MGM Mirage Pulls a Rabbit Out of its Hat
* Fontainebleau May Not Be Totally Screwed (we'll see)
* UNLV Center for Gaming Research Trends
* MGM Mirage Selling Properties

Feel free to leave your comments below. If it's a question that you want asked on the show, please make that clear in your post. You can also send those to editor@ratevegas.com.

Despite the fact the LVRJ has misspelled the name of the resort (as of this writing it says 'Corporate layoffs begin at Fountainebleau, more cuts likely'), they do have an interesting story about layoffs at the under-construction Strip resort.

http://www.lvrj.com/news/breaking_news/45366242.html

CSM at VegasTripping.com has posted some still images of Fontainebleau Las Vegas interiors that were captured from a video rendering. Chuck's post and stills are here:

http://www.vegastripping.com/news/news.php?news_id=2655

The original video is here:

http://www.spine3d.com/portfolio/animations.html

Chuck mentions in his post that it amps up his interest in the property a good margin. While I think some of it looks interesting, that overhead casino shot reminds me of a nicer version of Planet Hollywood. Of course, I may change my mind when I see it in person.

Still, very interesting. Hopefully this place is completed sooner rather than later.

According to the award winning Las Vegas Sun, Fontainebleau is suing some banks that apparently don't want to loan about $800MM that was promised to complete the project.

http://www.lasvegassun.com/news/2009/apr/23/fontainebleau-files-lawsuit-over-funding/

Funny, we were just talking about FBleau on the VegasGang today. Episode to be posted soon.

Two unrelated stories from the Las Vegas Sun.

First off, it seems Moody's are saying that Fontainebleau might be in trouble if they can't sell condos (insight!):

http://www.lasvegassun.com/news/2009/mar/04/moodys-fontainebleau-could-default-debt/

Then we also have Harrah's, a company struggling to avoid bankruptcy. They're attempting to re-structure their debt to avoid that scenario.

http://www.lasvegassun.com/news/2009/mar/04/harrahs-could-be-short-cash-pay-debts/

Let the good times roll!

Not a new story but I've been out of commission for the past 36 hours... Looks like some analysts believe that Fontainebleau may run into some cash issues post open, later this year.

http://www.lasvegassun.com/news/2009/feb/20/sp-fontainebleau-could-have-trouble-making-payment/

Of course, we here and pretty much everyone else, everywhere else has been saying this too.

Funny to see this story today in the Sun about the financing at Fontainebleau:

http://www.lasvegassun.com/news/2009/jan/19/fontainebleau-has-cash-keep-rising/

Just the other day as I was walking outside Encore, I was thinking to myself that it didn't look like much glass had been added to the tower at FBleau since December. Well, photographic evidence proved otherwise - my mind was just playing tricks on me and the glass is indeed rising.

When I checked out the visitors center there a few weeks back, there was a lot of construction activity in the low-rise portions. It is telling though that so far I don't think they will even sell you a condo - perhaps a chance they want to keep their options open?

The visitors area includes a large model of the complex, which does look interesting, as well as a model room. The room itself was nicely appointed - you can see Schaeffer and THEHotel written all over its style. Not quite as big as I would have expected, but then again, neither are the rooms at ARIA.

Mike Ch is back with another Strip Walk.

This time he hits both ends of the Strip with Luxor, Echelon, Encore, City Center and more.

Photos are here: http://www.ratevegas.com/photo/gallery/august2008

Mike's returning with a new Strip Walk. This time we see Fontainebleau, Encore, Echelon, City Center, Luxor and more.

Keep reading after the jump and check out his photos:
http://www.ratevegas.com/photo/gallery/stripwalk

We're back with roundtable #2 - this time around the topics include Crown investing in Harrah's/Station, MGM Grand Detroit, Pure being raided by the IRS, Cuba as the next Macau and more.

The participants include:

Jeff Simpson - http://www.lasvegassun.com and http://www.inbusinesslasvegas.com

David McKee - http://www.lasvegasadvisor.com/blogs/dmckee/

Dave Schwartz - http://www.dieiscast.com

Chuck Monster - http://www.vegastripping.com

Direct Download: http://media.ratevegas.com/36-podcast_02212008.mp3

The first episode of what could become a new, semi-regular podcast has been posted.

It doesn't yet have a name but the working title is 'Vegas Roundtable'. It's a gaming industry related podcast in a discussion format. Today's participants include:

Jeff Simpson - http://www.lasvegassun.com and http://www.inbusinesslasvegas.com

David McKee - http://www.lasvegasadvisor.com/blogs/dmckee/

Dave Schwartz - http://www.dieiscast.com

Chuck Monster - http://www.vegastripping.com

Thanks to all participants. The podcast is in my normal feed for 'The Worst Las Vegas Podcast' but it will probably move to a dedicated feed. Also, if anyone can think of a good name, drop them in the comments.

If you don't subscribe to the feed and want the direct URL, here it is:
http://media.ratevegas.com/35-roundtable_1-02_07_08.mp3

Thanks to Mike for another installment of 'Strip Walk', or semi-regular feature that focuses on Las Vegas Strip construction progress.

Lots of great new info here and of course, we've got photos: http://www.ratevegas.com/photo/gallery/stripwalk

Well, you know the drill at this point. Another episode featuring MGM Grand, Wynn Las Vegas, City Center and more.

Photos are here: RateVegas Photos

This time we get a bonus video: Diablo's Cantina

A second construction accident in about a week at Fontainebleau, though this time no one was killed, unlike last week. It appears a major collapse in the parking garage area that is under construction has taken place.

http://www.lasvegasnow.com/Global/story.asp?S=6892276

Technorati Tags: casino design, fontainebleau, gaming industry, las vegas, lasvegas

Here's some more info on upcoming Las Vegas construction, based off of filings with the county.

THEPlace - The condo development to sit between Mandalay Bay and Luxor is still on track, despite there not being a peep from them since the initial announcement. Some details on the project stats, which will include a rather large 256 square foot water features.

Hard Rock Condos - Nothing really here - just a request for an extension for the new owner to figure out what they want to do.

Cogent? - Anyone know what this is?

New York New York Nightclub - This is finally coming together, with an indoor/outdoor setup.

Fontainebleau - Work continues as they are asking for a batch plant.

Casino Royale - They want to expand the casino in the back with all sorts of new space.

Technorati Tags: casino design, fontainebleau, gaming industry, hard rock, las vegas, lasvegas, vegas

Well, construction is on going at the Fontainebleau site, even though they have yet to really announce anything.

This site plan shows some of the features of the new casino, including a zen garden - no doubt Schaeffer's contribution as he is into that stuff pretty heavily.

This project will be one to watch, no doubt.

Technorati Tags: casino design, fontainebleau, gaming industry, las vegas, lasvegas, vegas