International edition
September 18, 2020

The deal is expected to close February 12

Stratosphere parent company sale approved

(US).- The us$ 1.3 billion sale of the Stratosphere’;s parent company to an affiliate of Goldman Sachs was approved Thursday by the state Gaming Commission. Whitehall Street Real Estate Funds is buying & Entertainment Properties, a gaming subsidiary controlled by billionaire corporate raider Carl Icahn.

A

merican Casino is the parent company of both Arizona Charlie’s casinos and the Aquarius in Laughlin. The gaming company will continue day-to-day operations under current Chief Executive Officer and President Richard Brown, who has held the position for eight years, and the property managers already in place.

Jonathan Langer, a Goldman Sachs managing partner working with the Whitehall fund, told commissioners the firm plans to use American Casino as a platform to make other gaming acquisitions in Nevada. Whitehall holds a 40 percent share in the Las Vegas Hilton. The deal is expected to close February 12.

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