Seven years later, the unfinished resort was sold to investment firms Witkoff Group and New Valley LLC, which planned to open it as The Drew Las Vegas in 2022.

In February 2021, Soffer bought back the project through his company Fontainebleau Development, with Koch Real Estate Investments as a partner.

[5][7] A privately held company known as Fontainebleau Resorts was later co-founded by Jeff Soffer, who was the chairman and majority owner of Turnberry Associates.

[8] In March 2005, Turnberry Associates paid $97 million to purchase 3.6 acres (1.5 ha) of adjacent property – south of the former El Rancho – that had previously been occupied by the Algiers Hotel.

[13] It would be built on the former property of the El Rancho and Algiers, located immediately west of the Turnberry Place high-rise condominium complex.

[17][18] The resort would also feature two dozen restaurants, a performing arts theater, a spa inspired by the Blue Lagoon in Iceland,[14][19][20] and a 300,000 sq ft (28,000 m2) retail mall.

Soffer also stated that the land was zoned for a hotel and casino, and said that residents knew such a project would ultimately be built on the property.

[15] Construction had begun before final designs were finished, a common practice for Las Vegas resorts to get them opened sooner.

[31] In April 2009, the project filed a $3 billion lawsuit against the group of banking lenders, alleging that they reneged on their agreement to provide $800 million in funding.

[43] During May 2009, construction consulting firm CCCS International filed a lawsuit against the Fontainebleau, alleging wrongful termination from the project.

[35][55] Fontainebleau Las Vegas LLC sought court approval for an immediate $656 million loan from the bank group.

Turnberry West also filed a lawsuit against its sister company, Fontainebleau Las Vegas LLC, which owned the project.

[66] In June 2009, executives from Apollo Management and Wynn Resorts toured the Fontainebleau facility with an interest in purchasing the project.

[72] In October 2009, a judge overseeing the bankruptcy case ruled that the Fontainebleau project be sold as soon as possible, appointing an examiner to handle the sale.

[88][89] Rusted, lower-floor portions, located along the sidewalk on Las Vegas Boulevard, also presented a poor appearance for the area.

[91] In August 2017, investment firms Witkoff Group and New Valley LLC purchased the resort for $600 million, with plans to rename it.

[95] Plans to finish the project's design and to obtain a construction loan were expedited in December 2017, after the passage of the Tax Cuts and Jobs Act of 2017.

[96][97] On February 12, 2018, Witkoff and Marriott International announced a partnership to open the project as The Drew Las Vegas in late 2020.

[101] A man trespassed onto the Drew property in March 2018, and sparked a number of fires causing $10 million in damage to several areas, including a ballroom and the 11th floor of the parking garage.

[107] Contractors filed liens totaling millions of dollars, for allegedly unpaid work,[108] and executives laid off amid the pandemic sued as well.

[109] In February 2021, nearly sixteen years after he first announced it, Soffer bought back the project through his Florida-based company, Fontainebleau Development.

[114][119] Soffer stuck largely to the project's original plans;[119][120] changes included a reduction in the retail component and the removal of condominiums.

Pre-opening festivities were held at the resort throughout the day and attended by hundreds of invited guests, including celebrities.

[133] Several top executives left the Fontainebleau within a month of its opening,[134] and Wynn Las Vegas soon filed a lawsuit accusing the property of poaching its employees, who were under a non-compete clause.

[138][139] Around the same time, the Fontainebleau announced that it would purchase five acres just south of the resort, previously occupied by a portion of the Riviera hotel-casino.

[147] Soffer expects much of the resort's revenue to come from non-gaming amenities,[123] which include a 96,500 sq ft (8,970 m2) retail area covering the first two floors.

[153] Bow tie designs are incorporated throughout the resort as a reference to the Miami hotel's architect, Morris Lapidus, who wore them regularly.

Like the Miami resort, the Las Vegas Fontainebleau features a 55,000 sq ft (5,100 m2) Lapis Spa[130][154] and a collection of artwork spread throughout the property,[155][156][157] including pieces by artist Urs Fischer.

[123] In July 2024, the resort is scheduled to open the Hall of Excellence, a museum showcasing sports memorabilia and artifacts donated from the collections of Tom Brady and Jim Gray.

[161][176][177] Chef Gabriela Cámara oversees Cantina Contramar, designed by Frida Escobedo and featuring a Casa Dragones tequila tasting room.