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The Strat
The Strat (formerly the Stratosphere) is a hotel and casino in Las Vegas, Nevada, United States. It includes a observation tower, List of tallest towers in the world, the tallest in the United States. It is also the second-tallest observation tower in the Western Hemisphere, surpassed only by the CN Tower in Toronto, Ontario. The top of the tower includes a revolving restaurant, lounges, observation decks, and several thrill rides. The hotel and casino are at the base of the tower, and the resort also includes a showroom and a shopping mall. The Strat is within city limits on Las Vegas Boulevard, just north of the Las Vegas Strip. The resort is sometimes considered a Strip property, but Clark County, Nevada, Clark County does not officially recognize it as such, saying the Strip does not extend into the city. Part of the property was previously occupied by Vegas World, a hotel and casino Bob Stupak opened in 1979. A decade after its opening, Stupak announced plans for a giant ne ...
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Las Vegas Boulevard
Las Vegas Boulevard is a major road in Clark County, Nevada, Clark County, Nevada, United States, best known for the Las Vegas Strip portion of the road and its casinos. Formerly carrying U.S. Route 91 in Nevada, U.S. Route 91 (US 91), which had been the main highway between Los Angeles, California and Salt Lake City, Utah, it has been Bypass (road), bypassed by Interstate 15 in Nevada, Interstate 15 and serves mainly local traffic with some sections designated Nevada State Route 604, State Route 604. Route description Las Vegas Boulevard runs the length of the Las Vegas metropolitan area in Clark County. "The Boulevard", as it is sometimes called by longtime Las Vegas residents, starts at about southwest of the ghost town of Crystal, Clark County, Nevada, Crystal, and continues south to about south of Jean, Nevada, Jean, in the Mojave Desert. The Boulevard shows up again in Primm, Nevada, Primm, but is currently not connected to the northern sections. There are tentati ...
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CN Tower
The CN Tower () is a communications and observation tower in Toronto, Ontario, Canada. Completed in 1976, it is located in downtown Toronto, built on the former Railway Lands. Its name "CN" referred to Canadian National, the railway company that built the tower. Following the railway's decision to divest non-core freight railway assets prior to the company's privatization in 1995, it transferred the tower to the Canada Lands Company, a federal Crown corporation responsible for the government's real estate portfolio. The CN Tower held the record for the world's tallest free-standing structure for 32 years, from 1975 until 2007, when it was surpassed by the Burj Khalifa, and was the world's tallest tower until 2009 when it was surpassed by the Canton Tower. It is currently the tenth-tallest free-standing structure in the world and remains the tallest free-standing structure on land in the Western Hemisphere. In 1995, the CN Tower was declared one of the modern Seven W ...
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American Casino & Entertainment Properties
American Casino & Entertainment Properties (ACEP) owned and operated 4 casinos. It was purchased by Golden Entertainment in October 2017 for $850 million. ACEP was a casino holding company headquartered at the Stratosphere Las Vegas. ACEP was a wholly owned subsidiary of American Real Estate Partners before it was sold to Whitehall Street Real Estate Funds, an investment arm of Goldman Sachs, in February 2008. The company owned the following 4 casinos: Aquarius Casino Resort, Arizona Charlie's Decatur, Arizona Charlie's Boulder and Stratosphere Las Vegas. Golden Entertainment acquired ACEP from Whitehall. History Shortly after opening, the Stratosphere Las Vegas on April 30, 1996, the Stratosphere Corporation was forced to file for bankruptcy. After acquiring a majority of the bonds, ACEP gained control of the casino. Carl Icahn acquired the four properties for $300 million. On November 29, 2005, Harrah's Entertainment announced plans to sell the Flamingo Laughlin casino ...
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Carl Icahn
Carl Celian Icahn (; born February 16, 1936) is an American businessman and investor. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach, Sunny Isles Beach, Florida. Icahn's business model is to take large stakes in companies that he believes will appreciate from changes to corporate policy; Icahn then pressures management to make the changes that he believes will benefit shareholders, and him. Widely regarded as one of the most successful hedge fund managers of all time and one of the greatest investors on Wall Street, he was one of the first activist shareholders and is credited with making that investment strategy mainstream for hedge funds. In the 1980s, Icahn developed a reputation as a "corporate raider" after profiting from the hostile takeover and asset stripping of Trans World Airlines. Icahn is on the Forbes 400, ''Forbes'' 400 and has a net worth of approximately ...
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Chapter 11
Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals. Chapter 11 overview When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned ...
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Naked City, Las Vegas
Naked City is the nickname for a neighborhood located in Las Vegas, Nevada, a sub-section of the Gateway District. The neighborhood is located at the northern end of the Las Vegas Strip, near the intersection of Las Vegas Boulevard and Sahara Avenue, bordered to the west by Tam Drive, and to the north by New York Avenue. The neighborhood was originally known as Meadows Addition. The term "Naked City" was applied to the area in the early 1980s by Metro police and newspapers during a spike in gang-related crime. A legend popularized later claims the area was dubbed Naked City for its population of suntanning showgirls in the 1950s; however, there are no verified references to the neighborhood as Naked City before the early 1980s. The most prominent development in the neighborhood is the Stratosphere Las Vegas The Strat (formerly the Stratosphere) is a hotel and casino in Las Vegas, Nevada, United States. It includes a observation tower, the tallest in the United States. It i ...
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Topping Out
In building construction, topping out (sometimes referred to as topping off) is a builders' rite traditionally held when the last beam (or its equivalent) is placed at the top of a structure during its construction. Nowadays, the ceremony is often parlayed into a media event for public relations purposes. It has since come to mean more generally finishing the structure of the building, whether there is a ceremony or not. It is also commonly used to determine the amount of wind on the top of the structure. A Scandinavian tradition of hoisting a pine tree to the top of framed out buildings had a more functional purpose: when the pine needles fell off, the builders knew the wood frame below had cured/dried out so they could enclose the building. History The practice of "topping out" a new building can be traced to the ancient Scandinavian religious rite of placing a tree atop a new building to appease the tree-dwelling spirits displaced in its construction. The tradition also ser ...
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Federal Aviation Administration
The Federal Aviation Administration (FAA) is a Federal government of the United States, U.S. federal government agency within the United States Department of Transportation, U.S. Department of Transportation that regulates civil aviation in the United States and surrounding international waters. Its powers include air traffic control, certification of personnel and aircraft, setting standards for airports, and protection of U.S. assets during the launch or re-entry of commercial space vehicles. Powers over neighboring international waters were delegated to the FAA by authority of the International Civil Aviation Organization. The FAA was created in as the Federal Aviation Agency, replacing the Civil Aeronautics Administration (United States), Civil Aeronautics Administration (CAA). In 1967, the FAA became part of the newly formed U.S. Department of Transportation and was renamed the Federal Aviation Administration. Major functions The FAA's roles include: *Regulating U.S. co ...
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Lyle Berman
Lyle Arnold Berman (born August 6, 1941, in Minneapolis, Minnesota) is an American professional poker player and business executive. Business Berman grew up in Minnesota and attended the University of Minnesota where he was graduated in 1964 with a degree in business administration. He then went to work for his father's leather business, Berman Buckskin. When the business was sold to W. R. Grace in 1979, he stayed on as president and CEO. The company was then later sold to the Melville Corporation where it became Wilsons Leather. From 1994 to 2000 he was the chairman and CEO of the Rainforest Cafe chain of restaurants and retail stores. Berman also played an important role in gaming companies. In 1990 he was a co-founder of Grand Casinos, a company that sought to create gambling establishments outside of Las Vegas and Atlantic City. Grand Casinos' Native American casino holdings were spun off into a new company, Lakes Entertainment, and Berman was named CEO. Additiona ...
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Grand Casinos
Grand Casinos () was a casino operator, co-founded by poker player Lyle Berman and Dave Anderson, Founder of Famous Dave's BBQ Restaurants, that started out managing several casinos in Minnesota in 1990. The company ceased to exist when it was purchased by Hilton Hotels which then merged it with its other gaming properties to form Park Place Entertainment in 1998. History Grand Casinos owned a total of 8 casinos in 1995. On December 19, 1995, made a major equity investment in The Stratosphere. In connection with AirTran Airways, Grand Casinos began offering vacation packages on AirTran August 8, 2005. Enterprises owned * Biloxi Star Theater * Grand Casino Gulfport * Grand Casino Biloxi * Grand Casino Tunica Casinos operated *Grand Casino Mille Lacs Grand may refer to: People with the name * Grand (surname) * Grand L. Bush (born 1955), American actor Places * Grand, Oklahoma, USA * Grand, Vosges, village and commune in France with Gallo-Roman amphitheatre * Grand Count ...
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Clark County, Nevada
Clark County is the most populous County (United States), county in the U.S. state of Nevada with 2,265,461 residents as of the 2020 United States census, 2020 census. The county is the location of the state's three largest cities, Las Vegas (the county seat), Henderson, Nevada, Henderson, and North Las Vegas, Nevada, North Las Vegas, as well as the Las Vegas Strip, Nellis Air Force Base, and Hoover Dam. Clark County has of land area, roughly the size of New Jersey. Although the county has 70% of Nevada's population making it the List of the most populous counties in the United States, 11th-most populous county in the United States, Clark County covers only 7% of Nevada's land mass. Despite having the name ''Las Vegas'' as part of their address, over 1 million residents live in Unincorporated towns in Nevada, unincorporated Clark County, with municipal services provided by the county. The county plays a role much larger than is typical in the US as it has direct jurisdiction ov ...
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Las Vegas Strip
The Las Vegas Strip is a stretch of Las Vegas Boulevard in Clark County, Nevada, that is known for its concentration of resort hotels and casinos. The Strip, as it is known, is about long, and is immediately south of the Las Vegas city limits in the unincorporated towns of Paradise and Winchester, but is often referred to simply as "Las Vegas". Many of the largest hotel casino and resort properties in the world are on the Strip. Its hotels, casinos, restaurants, residential high-rises, entertainment offerings, and skyline have established the Strip as one of the most popular and iconic tourist destinations in the world and is one of the driving forces for Las Vegas's economy. Most of the Strip has been designated as an All-American Road, and the North and South Las Vegas Strip routes are classified as Nevada Scenic Byways and National Scenic Byways. Boundaries Historically, casinos that were not in Downtown Las Vegas along Fremont Street sat outside the city limits on L ...
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