Billionaire offering mothballed Fontainebleau casino-hotel on Las Vegas Strip for $650 million

LAS VEGAS, Nev. – The billionaire investor who bought the unfinished Fontainebleau Las Vegas out of bankruptcy in 2010 for $150 million is offering to sell the long-mothballed casino-hotel for $650 million.

CBRE Las Vegas executives John Knott and Michael Parks announced Wednesday that their firm is listing the 63-story tower at the north end of the Las Vegas Strip for property owner Carl Icahn and his firm, Icahn NV Gaming Acquisition LLC.

Construction of the $2.9 billion, 3,900-room property stopped in 2009, about two years after privately held Fontainebleau Resorts LLC began work in February 2007.

County lawmakers last week ordered part of the 730-foot tower covered up to mask unsightly gaps in the blue-glass facade.

Officials assured the Clark County Commission that monthly inspections have found no structural risks.