When Las Vegas-based Golden Entertainment closed on its $850 million deal to acquire American Casino and Entertainment Properties, whose four casinos included the Stratosphere with its 1,149-foot tower and 2,427 rooms, Chairman and CEO Blake Sartini was ecstatic about acquiring a property on “the Strip.”
Officially opened one year ago this month to cater primarily to the burgeoning and wealthy Asian-American and Asian immigrant crowd in Las Vegas and West Coast cities, the magic initially seemed to work.
The demolition of the Las Vegas Club continues in downtown Las Vegas on Friday. The property was purchased by Derek and Greg Stevens in 2015.
Less than a decade after low ticket sales forced the Las Vegas Monorail Co. into bankruptcy, the private nonprofit wants to make its next big gamble on ridership.
