Home » VT News » Stratosphere, Aquarius Laughlin and Arizona Charlies are Sold

Stratosphere, Aquarius Laughlin and Arizona Charlies are Sold

By Chuckmonster on Monday, 23rd April 2007 3:43pm
  » filed under Las Vegas  comments: 0

   

Billionaire financier, corporate takeover and real estate monster Carl Icahn has agreed to sell four of his casino properties to Goldman Sachs' real estate arm Whitehall Real Estate Funds for $1.3 billion dollars.

The deal comes hot on the heels of MGM Mirage's purchase of the old El Rancho and Maxim Mag sites surrounding Circus-Circus, and the sale of the Sahara to entertainment impresario SBE / Stockbridge Real Estate.

It took 25 years, but Bob Stupak was, in fact right... the strip would eventually come to the Stratosphere's (formerly Vegas World) front door.

Right now the only pawns that appear to be in play on the north end of the strip are the Riviera - who've rejected numerous buyout offers - and the continually-in-flux Wet N Wild site.

The Aquarius Laughlin used to be the old Flamingo Laughlin. Icahn's company has recently dumped a ton of money into the joint refurbishing its casino floor, exterior and upgrading slot machines. It's actually a pretty nice property - for Laughlin standards - so this is a little surprising.



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