Goldman Sachs To Buy Four Casinos From Icahn
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Carl Icahn agreed to sell the Stratosphere, three other Nevada casinos, and 17 acres on the Las Vegas Strip to Goldman Sachs Group Inc.’s real estate funds for $1.3 billion. Goldman’s Whitehall Street Real Estate Funds will buy the Arizona Charlie’s Decatur and Boulder casinos off the Strip and the Aquarius Casino Resort in Laughlin, Nev. Mr. Icahn’s American Real Estate Partners LP will see a gain of $1 billion from the sale of the properties he began buying just eight years ago, the Mount Kisco, N.Y.-based company said yesterday in a statement.
Mr. Icahn is selling after a year in which the Strip had record revenue of $6.69 billion, an increase of 11% from 2005. A combined $12.7 billion will be spent this year to build new gambling resorts on the Strip.
