Carl Icahn comfortable with decision on Fontainebleau

Jun 21, 2011 3:00 AM

Fontainebleau Las Vegas owner Carl Icahn finally appears comfortable with a decision to treat his "big blue" as nothing more than a "real estate deal."

It will be sold to someone at some point and that will be that, with Icahn pocketing a nice profit, which should not be hard to do, considering warehouses have been emptied and their contents sold to a variety of interests looking for great prices on items that were once destined to fill what would have been the Strip’s newest big hotel and casino.

There will be no more of this talk about tearing it down. Neither should we look for Icahn to have any interest in finishing the mostly glassed-in tower that was about 70 percent complete when construction was halted about two years ago.

"He’s going to leave it to the next owner to complete, tear down or do whatever," according to a gaming industry follower sufficiently well positioned to have a good sense of Icahn’s thinking about the likely fate of the North Strip project he acquired for about $150 million in a bankruptcy court deal.

But there does continue to be talk about the chances for combining the Fontainebleau acreage with that of the neighboring Sahara and probably the property that was formerly the site of the Wet-n-Wild theme park.

There is no confirmation that anything specific is in the works, only that the prospects for creating a "dreamscape," as one source termed it, have been discussed.