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. The sale closed on May 19, 2006, and the Flamingo Laughlin was renamed the Aquarius Casino Resort in October 2006. On April 23, 2007, it was announced that ACEP was being sold for $1.3 billion to Whitehall Street Real Estate Funds, an investment fund managed by Goldman Sachs. The sale