Casino owner and gaming legend Carl Icahn has made an amazing bid to secure ownership of the bankrupt Fontainebleau development. Carl Icahn is the former owner of the Stratosphere and Arizone Charlie’s properties and was the only qualified bidder for the defunct project. The US Bankruptcy Court in Miami is expected to reward Carl Icahn with ownership of the property.

Icahn submitted a $156.6 million for the Fontainebleau, with the project currently sitting unfinished on the Vegas strip. Icahn plans to wait till the recession is over before restarting building operations to finish the project. Gaming industry analysts have estimated that it will take at least $1.5 billion to finish the project and have it in operation.

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