Fontainebleau Development, led by billionaire real estate investor Jeffrey Soffer, is proposing a substantial redevelopment of its Big Easy Casino in Hallandale Beach, Florida, with plans to turn the existing gambling venue into a luxury destination inspired by Las Vegas resorts.

The company is behind the Fontainebleau Las Vegas, a 67-story resort on the Las Vegas Strip that opened in December 2023.

Currently operating with approximately 700 slot machines, electronic table games, and poker tournaments, Big Easy Casino was previously known as Mardi Gras Casino and Hollywood Greyhound Track. The proposed redevelopment would significantly expand its facilities and introduce a broader range of dining and entertainment options.

Reports indicate that the planned gaming venue would cover more than 163,000 square feet, with design work led by Las Vegas-based architecture firm Steelman Partners. The firm has worked on casino and hospitality projects for major gaming companies, including Caesars Entertainment, Genting Group, MGM Resorts International, Sands China, and Wynn Macau.

The proposed plans include:

• Dining: 34,344 square feet dedicated to restaurants and food services.

• Bars and lounges: 11,205 square feet for hospitality and social spaces.

• Live entertainment: A modern venue designed to accommodate performances and other events.

• Parking: A total of 1,707 parking spaces, including a newly proposed garage with 818 spaces.

The redevelopment would represent a significant change for a property whose last major renovation reportedly took place around two decades ago.

A Strategic Alternative to Expanding in Miami Beach

Upgrading Big Easy Casino could provide Fontainebleau Development with a more practical route to expanding its gambling business than its longstanding effort to bring casino gaming to the Fontainebleau Miami Beach property.

Soffer has previously pursued changes to Florida's gaming laws that would have allowed the property's gaming license to be transferred to the Miami Beach resort. However, those efforts repeatedly encountered political obstacles in Tallahassee.

Fontainebleau Development also contributed millions of dollars to Florida political campaigns and advocacy organizations in support of legislative changes that would permit such transfers.

The proposal faced opposition from some Miami Beach residents who were reluctant to see a casino introduced at the iconic resort. Ken Griffin, founder of investment firm Citadel and one of the wealthiest individuals in the United States, also publicly criticized the idea in an opinion article.

Against that backdrop, investing in the existing Hallandale Beach property offers Fontainebleau Development an alternative way to expand its gaming and entertainment operations without depending on a controversial change in state gambling policy.

The proposed renovation would allow the company to modernize an established casino property while potentially broadening its appeal through restaurants, lounges, and live entertainment.

Fontainebleau Development Has Already Sold Part of the Casino Site

The company has previously generated value from some of the land associated with Big Easy Casino.

In December, Fontainebleau Development sold approximately 12.3 acres at the site to a group of buyers for $31.16 million. That price was more than twice the $12.5 million Soffer paid to acquire the property in 2018.

The land is zoned for mixed-use development, with plans to build apartments and retail space.

The transaction demonstrates how Fontainebleau Development can pursue different real estate strategies across its property portfolio, combining casino redevelopment with residential and commercial projects.

Beyond its gaming assets, the company maintains investments in aviation, commercial real estate, entertainment, maritime operations, and residential developments in Florida and other states.

If the proposed Big Easy Casino redevelopment proceeds, it would mark another significant investment in Fontainebleau Development's Florida portfolio, while providing a potentially more straightforward path to expanding its presence in the state's gaming and hospitality market.