Monday, June 13, 2011

Rumor - Fontainebleau to be sold for Scrap Metal?

Rumors are floating around that Carl Icahn is thinking about disassembling the Fontainebleau and selling off the scrap metal.

While it might seem insane to take apart a brand new building, it would be a fitting ending to the Fontainebleau story.

On one hand it would be sad, and a little embarrassing to see one of the biggest buildings in Las Vegas go away before it got off the ground. On the other hand, if no one's going to finish the damn thing, then maybe it would be better to take down the eyesore.

Personally I have a hard time believing this rumor to be true. I don't know how much it would cost to employ a team of workers to disassemble a building, but it has to be substantial. I have to hold out hope that the Fontainebleau's value lies in someone completing the building and opening it as originally planned, although that seems more and more unlikely as time goes on.