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The Las Vegas bankruptcy court has guaranteed Icahn Nevada Gaming Acquisition LLC the rights to the stalled Fontainebleau after other bidders were declared unqualified.
According to the examiner appointed to oversee the auction process two other submissions were made on the property, however did not meet the qualifications to close the sale.
Icahn beat out Penn National Gaming as the stalking Horse bidder by offering $156.5 million for the casino in November.
The Fontainebleau developers spent $2 billion on the 3,800 room resort on the Vegas Strip before declaring bankruptcy in June with the project only 70% completed.
Icahn says he is looking into completing the project but has made no decision yet if it will be kept or resold.
Friday’s auction will not be held since there are no competitive bids, instead a hearing is scheduled for January 27 to finalize the sale, which must be closed by February 9.
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