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Koch Industries Buys Stalled Las Vegas Casino Development (2)

Feb. 12, 2021, 7:53 PM

The real estate unit of Koch Industries is buying a long-stalled resort and casino on the Las Vegas Strip, betting on a rebound in a city hit hard by a plunge in tourism during the Covid-19 pandemic.

The company is partnering with Fontainebleau Development, an early developer of the property before the project went bankrupt during the financial crisis. Financial terms weren’t disclosed.

“We believe strongly in the Las Vegas market and see the property as a great opportunity to contribute to the long-term success and positive trajectory of this vibrant and innovative region,” Jake Francis, president of Koch Real ...

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