In February 2021, nearly sixteen years after he first announced it, Soffer bought back the project through his Florida-based company, Fontainebleau Development. The company partnered with Koch Real Estate Investments on the purchase, and various options were under consideration for the property, which was 75 percent complete. Although Soffer was busy with other projects at that time, when the pandemic hit he saw a “great opportunity” to return to the project and decided to buy it back. The project was purchased for $350 million, and the property was valued at $615.5 million. Marriott exited the project later in 2021, citing an amicable agreement with Fontainebleau Development, which instead would manage and operate the hotel itself.
Fontainebleau’s proposed features include a 173,000 sq ft casino, with 42-foot-high ceilings. The casino will include 1,300 slot machines, 128 table games, 18,000 sq ft of high-limit gaming, and a 14,000 sq ft race and sports book. The 96,500 sq ft retail area will cover the first two floors and include approximately 35 high-end retailers. The resort will have a focus on conferences, taking advantage of its location near the Las Vegas Convention Center. The property has more than 550,000 sq ft of meeting space.
The hotel will include 3,644 rooms. The hotel tower rises 68 stories, standing at 737 feet. Since 2008, it has ranked as the tallest building in Nevada, excluding the nearby Strat observation tower.
The property will also emphasize entertainment. It includes the 3,800-seat BleauLive Theater, measuring 90,000 sq ft. Nightclub owner David Grutman will open LIV, a club already present at the Miami Fontainebleau. The Las Vegas location measures 50,000 sq ft, and will include the 35,000 sq ft (3,300 m2) LIV Beach dayclub, set to open in 2024. The pool complex measures 6 acres in total, and features seven pools. The tower’s top floor will feature a private club overlooking the Strip.
The resort will feature 36 restaurants and bars, including the Asian restaurant Komodo as well as Papi Steak, both from Miami. Chef Gabriela Cámara will oversee Cantina Contramar, designed by Frida Escobedo and featuring a Casa Dragones tequila tasting room. The property will also feature a food hall, which will include a burger restaurant by chef Josh Capon. Alan Yau will open a restaurant at the resort as well. Like the Miami Fontainebleau, the Las Vegas resort includes a 55,000 sq ft Lapis Spa and a bar named after Collins Avenue.