Las Vegas Strip casino hotel Fontainebleau is up for sale, and billionaire investor Carl Icahn, who bought it out of bankruptcy in 2010 for $150 million, is offering to sell it for a whopping $ 650 million.

According to City Am, CBRE, the real estate giant behind the firt sale of the casino, has been chosen by billionaire Carl Icahn to sell the 68-storey hotel-casino.

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The resort was initially planned to be a $3 billion development that would include 3,800 rooms. The owners apparently had to cover up the unfinished parts of the building, Star Tribune reported.

Fontainebleau has been dubbed an eyesore on the Last Vegas Strip for the past six years. Icahn's decision to sell the property may lead to a revival of its initial building plan.

Icahn bought the Casino for $ 150 million in 2010 soon after the developers - Fontainebleau Resorts LLC - went burst. Since then, the billionaire has not developed the site, and it still stands at 70 percent completion. CBRE now prospects to sell the plot at a price of $650 million, Wall Street Journal reported.

At 730 feet, the Fontainebleau stands as the highest rising building on the Las Vegas strip. A commissioner for Clark County, Nevada, that includes Las Vegas, Chris Giunchigliani, described the plot as an "Empty, gaping mouth that faces the Strip."

However, the executive vice president of CBRE, John Knott, in Las Vegas, said that the structure has been well-maintained and is even ready for immediate development according to the vision of its next owner.

"This is an unparalleled asset with significant potential on one of the most landmark streets in the world. Opportunities like this are few and far between," he said at a press conference.

Meanwhile, officials have assured both the public and the Clark County Commission that inspectors have found no structural risks with the building.

TagsLas Vegas, Las vegas Fontainebleau, Billionare investor, Fonteinbleau, Last vegas strip, Carl Icahn, Carl Icahn's Fontainebleau, Fontainebleau for Sale $650M