Stratosphere owner files for $1 billion offering

Thursday, June 23, 2005 | 10:59 a.m.

American Real Estate Partners, a real estate investment company majority owned by investor Carl Icahn, has filed a $1 billion shelf offering with the Securities and Exchange Commission. The offering allows the company to issue a variety of securities, including any combination of stock, preferred stock and debt, from time to time.

Through a subsidiary, the New York-based company owns the Stratosphere hotel and casino as well as Arizona Charlie's Boulder and Arizona Charlie's Decatur in Las Vegas.

The filing would only say that funds for the offering would be used "for general business purposes" including "financing of capital expenditures and acquisitions."

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