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Fertitta brothers sell UFC for $4 billion. Will the Fertittas acquire a hotel on the Las Vegas Strip?

Last edit: jucifers on Monday, 11th July 2016 12:34 pm
Last response by teajay111 29th September 4:50am

http://www.forbes.com/sites/noahkirsch/2016/07/11/fertitta-brothers-sell-ufc-for-2000x-initial-investment-net-worths-rise-by-1-6-billion/#4633c35131f2

Will the Fertitta brothers expand their empire to the Las Vegas Strip? Which properties could they purchase?

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 vespajet responded on Monday, 11th July 2016

The Fertittas are being mentioned as the rumored buyers of the Fontainebleau, or at the very least, part of the group buying it. It was mentioned in an article in the LVRJ last month that the rumored buyer is "an entrepreneur" that has "presence in the gaming industry". The rumors of them selling UFC cropped up a few months ago and at the time, were denied by Dana White.

Deal for Fontainebleau casino project expected by late summer

To me, this makes a lot of sense for them, as Red Rock Resorts is definitely trying to be more than just a major player in the locals market. The Palms deal was a perfect fit for them, as the hotel side of things was in line with most of the other Stations properties. Fontainebleau would be a huge leap in size for them, assuming they opt to build out the tower to the nearly 3900 rooms as originally proposed. Palace Station is currently the company's biggest hotel, with just over 1000 rooms and the company is considering a second tower for the property in the future. Plus having yet another gaming company owning a property on the Strip isn't a bad thing either.

 jucifers replied on Tuesday, 12th July 2016

What about the reported design flaws of the Fontainbleau? The guest rooms are obsolete. The bathrooms are too small; there is only enough room for one sink.

Why pay $650 million for Fontainbleau and then invest another $1 billion plus into getting it completed? Why not buy the Rio and renovate it? Rio already has large guest rooms with two sinks. The property has good bones and could be spectacular again.

Should the Fertittas approach Caesars about buying some combination of Rio, Cromwell and/or Caesars Palace? How much is each of those properties worth?

 vespajet replied on Tuesday, 12th July 2016

From what I recall from some of the Urbex footage of the interiors, the place is a gray shell after Icahn got finished stripping everything that could be scrapped.

 levans replied on Wednesday, 13th July 2016

Anything could be done with the shell. The initial designs looked great and the rooms can be reworked. It would be a major move but a good one. That end of the Strip will be a major deal in a few years and I can't see the shell of Fontainebleau being there once Resorts World opens.

 Diablo responded on Tuesday, 12th July 2016

Thought they were very interested in bringing a football team (the raiders) to vegas. There would be some hurdles, but not impossible.

 vespajet replied on Tuesday, 12th July 2016

It's Sheldon Adelson that's behind the efforts to get the Raiders to relocate to Vegas.

 teajay111 responded on Thursday, 29th September 2016

Good question.

If it isn't broke then don't try to mend it.

The Fertitti brothers have amassed a fortune doing what they are doing.
If they had wanted to buy a SPOT on the strip they could have years ago and they still could.

IMHO They don't need to and probably wont.

Boy oh boy are they ever filthy rich.