Icahn may be looking at LV Hilton

Wednesday, Nov. 26, 2003 | 10:52 a.m.

A real estate limited partnership controlled by investor Carl Icahn is in talks with a company regarding the possible acquisition of a hotel-casino with about 3,000 rooms in Las Vegas -- and analysts say that property is probably the Las Vegas Hilton.

In a document filed with the Securities and Exchange Commission this month, American Real Estate Partners LP -- of which Icahn owns about 86 percent -- intends to "further explore investments in the casino and entertainment sectors" as well as the energy industry and other real estate opportunities.

Analysts believe the Las Vegas Hilton, which has more than 2,900 rooms, is a likely target for the Mount Kisco, N.Y.-based partnership. In Las Vegas, Icahn companies already control the Stratosphere hotel-casino and the two Arizona Charlie's hotel-casinos.

American Real Estate Partners made no mention of the possible purchase in a statement announcing its third quarter earnings Nov. 14 that was filed along with the SEC document.

The company had been contacted by the New York Stock Exchange regarding a sudden increase in price and volume of the company's shares but said it wasn't aware of any reason for the stock gain that wasn't already disclosed.

Park Place Entertainment Corp., owner of the Las Vegas Hilton, declined comment on whether it's in talks with Icahn to sell the property.