Billionaire entrepreneur Carl Icahn bought the Fontainebleau out of bankruptcy for 0 million and intends to sell it for a handsome profit.
CBRE Vice President John Knott told the Las Vegas Review-Journal that buyers involved in the gaming and financial industries are interested in the property and likely will complete a deal soon.
Knott said the potential buyer is strongly interested in buying the property, but CBRE required it to partner with a reputable financial entity to provide financial support.
The prospective buyer now has a financial partner, gaming partner, and a hotel partner, and is looking to close the deal soon, Knott said.
Icahn bought the Fontainebleau in 2010 and is wants about $650 million for the 730-foot-tall building, which is the second-tallest structure in Las Vegas, next to the Stratosphere tower.
The Fontainebleau was to have more than 3,800 hotel rooms and condominiums, plus a casino, convention center, and retail area.
Knott anticipates Icahn will get close to his $650 million asking price for the empty structure, and the buyer will have to invest another $1.2 billion and about two years of work to complete the development.
While Knott says the Fontainebleau likely will be sold soon, the receiver in charge of the shuttered Moulin Rouge property says he has a buyer will to pay some $8 million for it
The 15.5-acre Moulin Rouge casino site has been in receivership since 2013, and court-appointed receiver Kevin Hanchett says Moulin Rouge Holdings wants to buy it for $8 million.
Hanchett filed the necessary paperwork to consummate the sale in Clark County District Court and says the sale would be completed within five days of the court’s approval.
Moulin Rouge Holdings estimates it will cost $125 million to rehabilitate and open the former casino, which is located at 900 W. Bonanza in an industrial area of downtown Las Vegas.
Finally, Michael Jackson’s rented mansion in Las Vegas can be yours for $9.5 million.
Located on a 1.7-acre compound at 2710 Palomino Lane in Las Vegas, the 24,000-square-foot mansion has seven bedrooms and a dozen full bathrooms. Built in 1952, Spanish Mediterranean-style home was remodeled in 2010 and is owned by property investor Aner Iglesias.
Among the home’s unique features are a recording studio, a chapel, a 3,000-squre-foot guest house, an esplanade made of cobblestone, a large barbecue area, and an expansive garden.
Jackson lived at the home with his three children, which they called their “Thrilla Villa,” and the master room contains large mirrors Jackson used to practice and develop his choreography.
Jackson rented the home from 2007 until he died at another home in California in 2009.
