Stratosphere sold

Another day, another billion-dollar casino sale to private equity.

This time it’s the Stratosphere and Arizona Charlie’s (both Decatur and Boulder locations) sold by Carl Icahn to Goldman Sachs Group for $1.3 billion. The purchase also includes 17 acres of Strip property and the Laughlin-based Aquarius Casino.

Much action is being made all along the Strip, and now even more focus is on the north Strip, with Wynn’s new $1.7 billion Encore tower, Boyd’s $4 billion Echelon Place, and Venetian’s new $1.8 billion Palazzo tower still to come.

Last week, MGM Mirage spent $575 million for additional acreage around Circus Circus.

Rumor also has it that Station Casinos will be soon be redeveloping land around Palace Station to be a multi-use residential, retail, and entertainment block to the west and south. Their acreage is as large as the Echelon Place space.

With Las Vegas in the midst of the largest boom yet, could downtown piggyback on top of the Strip’s success?

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