Fontainbleau is a sensitive topic for the billionaire Carl Icahn, of Icahn Enterprises LP (NASDAQ:IEP) who doesn’t see his stuck investment returning a billion dollar profit as wishful thinking. Steve Wynn, Chairman and CEO of Wynn Resorts reflected some light on Carl Ichan’s ambitions regarding this investment, on CNBC.
“Carl Icahn is sort of a character about stuff like that. I asked him what are you doing behind the Fountainbleau? He said, I got a lot of cash, I just took a shot. He said, you thought I was crazy when I bought the Stratosphere, but I made a billion dollars. I said, yeah Carl you made a billion dollars in ’04 and ’05 when things were easy. Fountainbleau is going to be a little tougher […],” remarked Wynn.
Icahn Enterprises LP (NASDAQ:IEP)’s asset is also worsening in condition with every passing day, according to Wynn. He also mentioned that the furniture of the building has already been sold to the European owner of Plaza, which is just down the street from Fontainbleau.
Carl Icahn, who is activist investor usually makes good investment calls for Icahn Enterprises LP (NASDAQ:IEP). One of his recent ones was an attempt to spin-off PayPal from eBay Inc (NASDAQ:EBAY). Although, strongly resisted at the time of initiation, the moved proved to be a right call as the e-commerce company recently announced to do what Icahn had advised months ago.
Only time will tell whether Fountainbleau prove to be another shining star for Icahn Enterprises LP (NASDAQ:IEP). However, that is exactly what the diversified holding company doesn’t have, time. Carl Icahn can add little to the advertisement of Fountainbleau, as the 68 story building is second tallest in the Las Vegas Valley.
Icahn Enterprises LP (NASDAQ:IEP)’s shares were trading at $107.1 at the end of the trading day on Friday.
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