LAS VEGAS – The iconic Stratosphere Casino in Las Vegas is changing hands.
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Its new owners, Golden Entertainment Inc., announced Monday that the fixture on the Vegas Strip skyline is one of four properties they're buying from American Casino & Entertainment Properties.
The $850 million deal also includes Arizona Charlie's Decatur and Arizona Charlie's Boulder in Las Vegas, as well as Aquarius Casino Resort in Laughlin.
Golden will pay $781 million cash and about 4 million shares of its stock to American's owner, a real estate private equity fund managed by Goldman Sachs.
Golden Entertainment owns PT's Pub in Las Vegas as well as casinos in Pahrump, Nevada, Montana and Maryland.