Have you ever wondered who owns the Stratosphere Casino Hotel & Tower, the iconic Las Vegas landmark?
You may be surprised to learn that it’s not a billionaire casino mogul, but a corporation that’s quietly reaping the rewards of its success.
From the luxurious amenities to the impressive revenues, this is one casino that’s doing everything right.
Key Takeaways
- The current owner of the Stratosphere Casino Hotel & Tower is Whitehall Street Real Estate Funds, an affiliate of Goldman Sachs.
- The hotel is managed by Golden Entertainment.
- The casino has experienced a steady increase in profits since its opening in 1996.
- The casino is constantly expanding and improving its offerings, aiming to reach a wider market and maximize profits through diversity.
Current Owner & Profits
The Stratosphere Casino Hotel & Tower has changed hands several times over its lifetime and seen varying levels of profits.
Currently, the Stratosphere is owned by Whitehall Street Real Estate Funds, an affiliate of Goldman Sachs, and is managed by Golden Entertainment.
The company has recently seen some success in profits, with the hotel bringing in a record $56 million in revenue in the fourth quarter of 2019.
Historical Ownership & Profits
You’ve likely heard of the Stratosphere Casino Hotel & Tower, but do you know who’s owned it and how much money it’s made over the years? Here’s a look at its historical ownership and profits:
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Stratosphere has been owned by several different entities since it opened in 1996, including Grand Casinos, Whitehall Street Real Estate Funds, and Golden Entertainment.
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It’s gone through several legal battles, with the most recent in 2017 when the Las Vegas Monorail Company sued its current owner, Golden Entertainment, over unpaid rent.
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Since its opening, the Stratosphere has seen a steady increase in profits, with a peak in 2005 when it brought in over $107 million.
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After that, it experienced a downturn, with profits dropping to a low of $62 million in 2009.
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Since then, profits have been steadily increasing, and in 2018 it brought in over $87 million.
Amenities of the Casino
If you’re looking for a luxurious gaming experience, the Stratosphere Casino Hotel & Tower has you covered!
With a wide selection of games, delicious dining options, and a variety of hotel rooms, you’re sure to find something that suits your needs.
Enjoy playing your favorite slots and table games, take a break for a meal at one of the many on-site restaurants, or settle in for the night in one of their comfortable and convenient hotel rooms.
Games Offered
Try your luck at the Stratosphere Casino Hotel & Tower with a variety of exciting casino games. From classic table games like Blackjack, Roulette, and Craps, to Progressive Slot Machines, and Video Poker, the Stratosphere offers something for everyone.
Test your luck with the newest gambling laws and winning strategies to increase your chances of taking home a big win.
- Enjoy a classic game of Blackjack
- Spin the Roulette wheel
- Try your hand at Craps
- Take a chance on the Progressive Slot Machines
- Play Video Poker to win big
Dining Options
Experience a variety of dining options at the Stratosphere, ranging from casual to fine dining. Enjoy a romantic dinner for two in one of their private suites for a unique experience. Or, savor a dinner buffet with a variety of delectable dishes. The hotel also has a range of cafes and bars for you to relax and enjoy a snack or a drink.
| Dining Option | Price | Ambience |
|---|---|---|
| Private Suite | $$ | Romantic |
| Dinner Buffet | $$ | Relaxed |
| Cafe | $ | Relaxed |
| Bar | $$ | Casual |
Hotel Rooms
Stay in one of the luxurious rooms at the Stratosphere and pamper yourself with the amenities offered.
Enjoy stylish decor, free parking, and excellent customer service.
Each room is equipped with a flat-screen TV, refrigerator, and high-speed Wi-Fi.
Plus, the hotel also offers premium amenities like a fitness center, spa, and pool.
Guests can also take advantage of the casino, restaurants, and bars located inside the hotel.
Whether you’re looking for a short getaway or an extended stay, the Stratosphere Casino Hotel & Tower has everything you need for a memorable trip.
Current Revenues & Profits
The Stratosphere Casino Hotel & Tower generates significant revenues and profits each year. It has maintained a loyal customer base for over two decades, and is looking to further expand its offerings in the near future. Here are some of the ways the Stratosphere is generating revenue:
- Casino games such as slots, blackjack, and poker
- Hotel room bookings
- Various restaurants, bars, and lounges
- Entertainment shows
The Stratosphere has worked hard to build a strong customer base and continues to invest in its future expansion. It is constantly introducing new games and attractions, as well as improving its existing amenities. The hotel also offers special discounts and packages for guests, as well as exclusive deals for members. All of these efforts pay off in the form of increased profits and revenues.
The Stratosphere has also diversified its offerings in order to reach a wider market. From luxury spa services to retail stores, the hotel has something for everyone. This diversity also allows it to offer unique experiences to its guests and maximize its profits.
The Stratosphere Casino Hotel & Tower is a great example of a successful business that understands the importance of investing in its future. Its ability to generate significant revenues and profits each year is a testament to its success.