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Nevada casinos change hands

Stratosphere hotel-casino and tower, located on the Las Vegas Strip, was one of four Nevada casinos to be sold to an affiliate of Whitehall Street Real Estate Fund on Thursday February 21st.

The Aquarius Casino Resort in Laughlin and two Arizona Charlie's casinos in Las Vegas were the other three gambling centers to be bought by the group.

Redevelopment is planned at most of the sites, which were until this week owned by the Carl Icahnas-led Icahn Enterprises, as the new owners looks to put their stamp on the popular casinos.

Some $25 million has been earmarked for the Stratosphere development, while $10 million is to be put towards a new bingo room at one of the newly-acquired Arizona Charlie's, reports the Associated Press. Apparently, there will also be $19 million-worth of renovations taking place at the Aquarius.

The Stratosphere site is one of the most eye catching developments on the Las Vegas strip and is located close to Circus Circus hotel and casino.