From Bloomberg: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, Nevada. 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, New York-based company said today in a statement.
Not sure about selling now, as the North Strip is on the verge of a renaissance of sorts. But a cool billion dollars in just eight years is a pretty good ROI.
Icahn Sells Four Casinos to Goldman for $1.3 Billion
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