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Icahn Folds Fontainbleau

By Chuckmonster on Tuesday, 28th September 2010 11:43am
  » filed under Las Vegas  comments: 9


According to the New York Post (the most reliable of New York Newspapers) billionaire financier/investor/corporate raider "Hot" Carl Icahn has decided to fold the property and recoup a portion of his $151M investment by holding a gigantic garage sale.

All interior fixtures - everything that isn't bolted down, and probably a bunch of stuff that is - is "for sale." Bedding, tv sets, desks, chairs, you name it... all for sale.

Does this mean that it is time to officially stick a fork in the Fontainebleau? Maybe so... but with hotel rates at a lot of 3.5 star and above Strip properties jumping back into $250/weekend night range over the coming months, perhaps Icahn's decision to cut a portion of his bait might be a bad one. Then again, a lot of those furnishings may have been partially destroyed due to exposure.

In related news, Echelon Place is still standing.

Tagged: fontainebleau   hot carl icahn   


Comments & Discussion:

Is this real life? 70% complete means there's already furniture in the rooms, or it at least exists in a warehouse somewhere? I really can't believe that such a HUGE physically imposing building is just going to sit empty in perpetuity.

Not "in perpetuity."

Steve Wynn will pay to have it demolished eventually.

he's probably stuck with a shitload of decor that he doesnt want in the Icahnbleu once he does open it (IF he does open it and not flip it).

Icahn Has Cheezburger apparently just lost a boatload of dough in the Blockbuster Video bankruptcy as well. Hope you were nice to people on the way up, Carl.

Were they selling all the iMacs that were going in the rooms, too?

Man, this is some sad stuff. That entire stretch of the strip is a tragedy. How bizarre to think that the Bellagio is on the same street as huge metal skeletons and the Riviera. What a strange snapshot of the state of this country.

Is there anything inside the place to sell? I can't imagine there are completed or even semi-completed rooms in there. Or really, anything.

This was coming. There was no reason to believe it was ever going to be finished.

well if they are selling the iMac's I'm there dude. hope the sale happens in november when i am there.

this is my bid on the f'nblue. As it sits i will pay cuzin' carl 1 whole dollar for this place.

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