Next month, a bankruptcy judge will consider the sale of the Fontainebleau resort in Las Vegas. Penn National Gaming may up its bid for the project, but it is hesitant to do so, estimating that it will cost at least $1.5 billion to finish the project. Investor Carl Icahn has the high bid thus far. Meanwhile, some observers say the timing of the Fontainebleau sale is not good for Las Vegas because the newly opened CityCenter resort and casino project is expected to draw customers from other properties.
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