Fontainebleau

Lenders: Cost overruns led to Fontainebleau loan default: Tuesday, June 16, 2009; By Steve Green; Bank lenders for the first time have publicly disclosed why they declared the $2.9 billion Fontainebleau resort in Las Vegas in default on its construction loan and shut off funding. Tuesday, they cited hundreds of millions of dollars in cost overruns and possible misrepresentations by the hotel-casino developer.

Outlook for Fontainebleau slides from bad to worse: Monday, June 8, 2009; DAILY MEMO: GAMING : Company needs cash — and a leader — at a most difficult time; By Liz Benston; When the ambitious Fontainebleau was announced in 2005, the 4,000-room resort project, which might have been an icon unto itself in another city, joined a crowded field of megaresorts in planning or under way on the Strip. With tourism booming, few questioned the resort’s prospects. The resort’s location at the north end of the Strip was no longer seen as a hindrance given the opening of Wynn Las Vegas at the site of the former Desert Inn and what would soon become the Encore and Palazzo nearby.

Fontainebleau developer lays off 40 employees: Monday, May 18, 2009; GAMING:; By Sun Staff; The company developing the $2.9 billion Fontainebleau Resort in Las Vegas laid off about 40 people Monday, or about 20 to 25 percent of its staff, a spokesman said.

Fontainebleau glazing contractor no stranger to overcoming adversity: Wednesday, May 6, 2009; Construction: Zetian Systems founder uses profits to help young girls in rural China; By Steve Green; Las Vegas businesswoman Weina Zhang says she works all the time not for the money, but to help young girls in her native China. Zhang, chief executive and majority partner in Zetian Systems Inc., is a relatively unknown but fast-rising name in the worldwide construction industry. Her company supplies glass panels and other architectural products, mainly from China.