Want to buy a multi-billion-dollar casino for cheap?
Keep in mind you will most likely need to spend another couple billion in order to finish building.
The casino on the auction block is the $3 billion, 4,000-room Fontainebleau, and the first bid was placed by Penn National Gaming, which has been trying for years to enter the Las Vegas market. Two years ago, Penn made a failed bid for Harrah's.
Penn offered $50 million with a promise to fork out another $1.46 billion to see it through. Already $2 billion has been spent on the bankrupt project.
The deadline for bids is Jan. 15, 2010.
Assuming that Penn gets the bid, construction wouldn't begin until the following year.
No comments:
Post a Comment