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LAS VEGAS-Part of a multi-story parking structure under construction here collapsed Monday. Located near Riviera Boulevard and Paradise Road, the structure is part of the new Fontainebleau resort fronting the Las Vegas Strip.

Three levels of slab cement within the steel superstructure of the garage collapsed onto each other shortly before 10:30 a.m. Monday. Fountainebleau Resorts LLC, the privately held developer, says in a statement that “a pre-cast twin tee, an isolated part of the Fontainebleau garage collapsed, causing a domino effect before stopping at a concrete slab several levels below.”

Work on the parking structure was halted pending an investigation as to why the floors gave way, according to the statement. Work on the high-rise tower will continue.

The estimated $2.8-billion, 24.5-acre development is due to open in late 2009 with 3,889 rooms, a casino, hotel, condominium and spa. Construction began earlier this year across from Circus Circus Hotel-Casino.

The Parking garage incident comes less than a week after a worker at the site died after falling from atop a 30-foot wall. Two other workers were injured in the accident.

Fontainebleau Resorts is led by its majority owner Jeffrey Soffer, who also heads the Turnberry group of companies, owner of the Turnberry Place, Signature at MGM Grand and Town Square developments in Las Vegas, the Aventura Mall and Turnberry Isle Resort & Club in South Florida, and the Residences at Atlantis on Paradise Island, Bahamas. Fontainebleau’s executive chairman Glenn Schaeffer was formerly the president of Mandalay Resort Group. Soffer and Schaeffer co-founded Fontainebleau after Mandalay was sold in early 2005 to MGM Mirage.

In June, to fund the Las Vegas development and other projects, Fontainebleau Resorts closed on more than $4 billion of financing from a consortium led by Bank of America, Merrill Lynch, Deutsche Bank and Barclays. As part of the financing arrangement, Fontainebleau raised $565 million in private placements of common and preferred equity. That total includes $250 million it obtained in April from Australia-based Publishing & Broadcasting Limited in exchange for the 19.6% interest in the company.

In addition to Bank of America, Merrill Lynch, Deutsche Bank and Barclays, participating lenders participating in the $4-billion financing include Lehman Brothers, JP Morgan Chase, Bank of Scotland, Royal Bank of Scotland and Sumitomo Mitsui Banking Corp.

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