Goldman Sachs Gets The Las Vegas Stratosphere
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While the investment firm is always reaching for new heights, it reached for and acquired the landmark property Stratosphere in Las Vegas and 3 other Nevada gaming properties. The sale of these properties by American Real Estate Properties and majority owner Carl Icahn is expected to bring in 1.3 billion dollars and a billion dollar profit for he company.
Along with the tallest structure on the Las Vegas Strip the sale of American Casino and Entertainment Properties would include two Arizona Charlie’s casinos off the Strip — and the Aquarius Casino Resort in the Colorado River resort town of Laughlin.
The deal is with Whitehall Street Real Estate Funds. It also includes 17 acres of undeveloped land surrounding the Stratosphere. That’s a 2,400 room hotel with a separate 1,100 foot tower resembling Seattle’s Space Needle.
The deal is expected to close in about eight months. American Real Estate Properties says it expects a gain of about $1 billion on its investments in American Casino and Entertainment.via KVBC
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