Carl Icahn Unloads Unfinished Las Vegas Casino For $600 Million--

[Joseph M.]

Sure it took some years, but pretty decent flip wouldn't you say? 

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Seven-years after his crises era bet, billionaire Carl Icahn has sold an unfinished Las Vegas casino for $600 million. New York-based developer Steven Witkoff led the investor group taking over the site, handing Icahn and his investors a gain of more than $450 million.

Icahn bought the site that was to be Fountainebleau Las Vegas in February 2010 for $148 million. A year earlier construction had stalled on the $2.9 billion, 68-story hotel-casino and condominium project on the Las Vegas Strip. The former developers had filed for bankruptcy as Las Vegas became was hammered by the financial crisis. Since have swirled about when the billionaire would finally unload the place.

https://www.forbes.com/sites/samanthasharf/2017/08/29/carl-icahn-unloads-unfinished-las-vegas-casino-for-600-million-more-than-four-times-what-he-paid/#7168973a15b4