Even if you crap out in its casino, Stratosphere Corporation hopes you'll still enjoy the view. The company's Stratosphere Tower, Casino & Hotel in Las Vegas is the tallest free-standing observation tower in the US at 1,149 ft. It features a revolving restaurant, observation decks, and a roller coaster that wraps around the top. More grounded is the firm's hotel, with some 2,400 rooms, an 80,000-sq.-ft. casino, a Broadway showroom, and a retail center with shops and fast-food outlets. Located slightly off the beaten path, the hotel offers a nightly evening shuttle service to the center of the Las Vegas Strip. Whitehall Street Real Estate Fund, an affiliate of The Goldman Sachs Group , owns the Stratosphere.
The Stratosphere's Top of the World Restaurant & Lounge sits 833 feet above the Las Vegas Strip. Other Stratosphere attractions include the Chapel in the Clouds and a salon and spa.
Along with the rest of the Vegas hotel casino industry, the company has been experiencing less visitors and declining customer spending as a result of the weak economy.
The Stratosphere was founded in 1996 by casino operator Bob Stupak. Within a year the company filed for bankruptcy (the largest in Nevada's history at the time). It was acquired in 2002 by chairman Carl Icahn's American Real Estate Partners, which later became Icahn Enterprises. In 2008 Icahn sold the Stratosphere, along with three other Nevada casinos, to Whitehall (an affiliate of Goldman Sachs) for $1.2 billion.
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