Stratosphere (Las Vegas)
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Stratosphere (Las Vegas)
The Strat Hotel, Casino and SkyPod (formerly the Stratosphere) is a hotel and casino located in Las Vegas, Nevada, United States. It includes a observation tower, 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 tower is topped by a pod which includes a revolving restaurant, lounges, and observation decks. The top of the tower also has several thrill rides. The hotel and casino facilities are situated at the base of the tower, and the resort also includes a showroom and a shopping mall. The Stratosphere is located within city limits on Las Vegas Boulevard, just north of the Las Vegas Strip. The resort is sometimes considered to be a Strip property, although Clark County does not officially recognize it as such, stating that the Strip does not extend into city limits. A portion of the property was previously occupied by Vegas World, a hotel and casino th ...
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Las Vegas Boulevard
Las Vegas Boulevard is a major road in 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 (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 tentative plans to connect the existing section at Pri ...
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Toronto
Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anchor of the Golden Horseshoe, an urban agglomeration of 9,765,188 people (as of 2021) surrounding the western end of Lake Ontario, while the Greater Toronto Area proper had a 2021 population of 6,712,341. Toronto is an international centre of business, finance, arts, sports and culture, and is recognized as one of the most multicultural and cosmopolitan cities in the world. Indigenous peoples have travelled through and inhabited the Toronto area, located on a broad sloping plateau interspersed with rivers, deep ravines, and urban forest, for more than 10,000 years. After the broadly disputed Toronto Purchase, when the Mississauga surrendered the area to the British Crown, the British established the town of York in 1793 and later designat ...
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Lincoln Motor Company
Lincoln Motor Company, or simply Lincoln, is the luxury vehicle division of American automobile manufacturer Ford Motor Company, Ford. Marketed among the top luxury vehicle brands in the United States, Lincoln was positioned closely against its General Motors counterpart Cadillac. The division helped to establish the personal luxury car segment with the 1940 Lincoln Continental. Lincoln Motor Company was founded in 1917 by Henry M. Leland, naming it after Abraham Lincoln. In February 1922, the company was acquired by Ford, its parent company to this day. Following World War II, Ford formed the Lincoln-Mercury Division, pairing Lincoln with its mid-range Mercury (automobile), Mercury brand; the pairing lasted through the 2010 closure of Mercury. At the end of 2012, Lincoln reverted to its original name, Lincoln Motor Company. Following the divestiture of Premier Automotive Group (Jaguar Cars, Jaguar, Land Rover, Aston Martin, and Volvo Cars, Volvo) and the closure of Mercury (a ...
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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 to ACEP. T ...
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Carl Icahn
Carl Celian Icahn (; born February 16, 1936) is an American financier. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach. Icahn takes large stakes in companies that he believes will appreciate via changes to corporate policy and he then pressures management to make changes that he believes will benefit shareholders. 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 and has a net worth of approximately $17 billion to $24 billion. Since 2011, Icahn no longer manages money for outside clients, although investors can invest in Icahn Enterprises. Early life and education Icahn was born in Brooklyn to an Ashkenazi J ...
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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 to the ...
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Naked City, Las Vegas
Naked City is a neighborhood located in Las Vegas, Nevada north of the Las Vegas Strip The neighborhood is located at the northern end of the Las Vegas Strip, near the intersection of Las Vegas Boulevard and Sahara Avenue. The most prominent development in the neighborhood is the Stratosphere Las Vegas hotel and tower. Upon its opening in 1996, it was hoped its presence would spur improvements in the area. In May 2018, the apartment complexes in Naked City were renovated in an effort to reduce crime. References Las Vegas Populated places established in 1950 {{ClarkCountyNV-geo-stub ...
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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 atop 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. Also commonly used to determine the amount of wind on the top of the structure. 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. Long an important component of timber frame building, it migrated initially to England and Northern Europe, thence to the Americas. A tree or leafy branch is placed on the topmost wood or iron beam, often with flags and streamers tied to it. A toast is usually drunk and sometimes ...
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Federal Aviation Administration
The Federal Aviation Administration (FAA) is the largest transportation agency of the U.S. government and regulates all aspects of civil aviation in the country as well as over surrounding international waters. Its powers include air traffic management, 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. Created in , the FAA replaced the former Civil Aeronautics Administration (CAA) and later became an agency within the U.S. Department of Transportation. Major functions The FAA's roles include: *Regulating U.S. commercial space transportation *Regulating air navigation facilities' geometric and flight inspection standards *Encouraging and developing civil aeronautics, including new aviation technology *Issuing, suspending, or revoking ...
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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. Additionall ...
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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 Casino Hinckley Grand Casino Hinckley is a casino and hotel in Hinckley, Minnesota, United States, owned and operated by the Mille Lacs Band of Ojibwe's ''Mille Lacs Corporate Ventures''. It was formerly owned by Grand Casi ...
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Clark County, Nevada
Clark County is located in the U.S. state of Nevada. As of the 2020 census, the population was 2,265,461. Most of the county population resides in the Las Vegas Census County Divisions, which hold 1,771,945 people as of the 2010 Census, across . It is by far the most populous county in Nevada, and the 11th most populous county in the United States. It covers 7% of the state's land area but holds 74% of the state's population, making Nevada one of the most centralized states in the United States. History Las Vegas, the state's most populous city, has been the county seat since its establishment. The county was formed by the Nevada Legislature by splitting off a portion of Lincoln County, Nevada, Lincoln County on February 5, 1909, and was organized on July 1, 1909. The Las Vegas Valley (landform), Las Vegas Valley, a basin, includes Las Vegas and other major cities and communities such as North Las Vegas, Henderson, Nevada, Henderson, and the unincorporated community of Parad ...
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