EDGe Vegas Everything Vegas Low Ballin For Disaster at Fontainebleau

Low Ballin For Disaster at Fontainebleau

Penn National Gaming made the first bid for the stalled Fontainebleau project in Las Vegas.  They offered $50 million for the casino that was valued at almost $3 billion.  About $1.5 billion has already been put into building Fontainbleau.  Penn National would still have to pay for the rest of construction, but this is a start.

Penn National Gaming Inc. on Monday made a $50 million “stalking horse” bid to buy the stalled Fontainebleau casino-resort in Las Vegas, with plans to spend another $1.46 billion to complete the project.

This is only the first bid and I have been reading rumors about other companies that may be making bids.  Nothing would surprise me with this casino.  The property may, alone, be worth more than $50 million.  The promise here is that the project will be completed.  I’m not sure that every bidder would complete the project as it stands.

There is a couple of months until bidding is up.  I’m sure this isn’t the last we’ll hear about this casino with a name I’d love to never write again.

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Las Vegas Writer, Marketer, Consultant. I love Vegas and everything about it. When in Vegas do 3 things: eat, drink & gamble.

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