Fontainebleau Construction May Be Resuming

The Las Vegas Sun is reporting that $1.2 billion in construction permits for Fontainbleau were pulled earlier this month.

The permits listed a variety of projects, including casino, hotel and restaurant remodelings, miscellaneous commercial structure work and parking structure modifications.

All the permits were issued June 10 and the total value of all 47 permits exceeds $1.2 billion.

Representatives of Icahn Enterprises and Taylor International did not return calls clarifying whether there are any plans to resume construction at Fontainebleau..

I’m not sure that the market needs more room supply, but there may end up being room for Fontainebleau. Carl Icahn seems to keep his hotel and casinos in the mid-level price range. Most of the new casinos/hotels built over the past few years are high end, so Fontainebleau wouldn’t likely be direct competition.

This looks to be a forward looking move as construction likely wouldn’t be finished for another 18 months or so. I wouldn’t imaging construction would start in the summer, but ya never know.