The Strat
A hotel, casino, and observation tower in Las Vegas.
Last updated August 31, 2026
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Overview
The Strat is a hotel, casino, and observation tower in Las Vegas, known for its tall tower and thrilling rides.
History
The site's modern history began in 1974, when Bob Stupak opened a small gambling venue that later burned. In 1979 he opened Vegas World on the property. Stupak's later tower concept began as a proposal for a giant illuminated sign, but he revised it into an observation tower with a restaurant and elevator access. He presented the plan to Las Vegas officials in 1989 and 1990, describing the intended landmark as a Las Vegas counterpart to famous city towers elsewhere in the world. The proposal faced opposition from city staff, aviation authorities, Nellis Air Force Base, and other critics. Stupak's original design called for a 1,012-foot tower. He later proposed an extraordinary 1,825-foot version, but the Federal Aviation Administration objected on aviation-safety grounds and the city rejected that height. In June 1994, officials authorized construction up to 1,149 feet, which became the tower's final height. Ned Baldwin, who had also worked on Toronto's CN Tower, was among the designers associated with the project. Groundbreaking took place in November 1991, and tower construction began in February 1992. In August 1993, an unexplained fire broke out in the unfinished structure. Hundreds of people were evacuated from Vegas World, but there were no injuries and the tower suffered no structural damage. The incident nevertheless delayed the project and damaged construction equipment. Stupak then experienced difficulty securing additional financing. Grand Casinos, led by his friend Lyle Berman, invested and ultimately acquired a 43 percent stake in the resort company. Vegas World closed on February 1, 1995. Its two hotel towers, containing 932 rooms, were remodeled and incorporated into the Stratosphere, while new construction added further accommodation and resort facilities. The tower was topped out on November 4, 1995, after complex crane-removal and steel-installation work. The completed complex cost approximately $550 million and opened on April 30, 1996, although some facilities were still unfinished at opening. The resort struggled during its first year. Its location north of the main Strip concentration, the unfinished portions of the project, and limited initial marketing all weakened revenue. The company entered Chapter 11 bankruptcy in 1997. Carl Icahn acquired the property in 1998 and invested in completing the hotel inventory, including a $65 million renovation project that finished remaining rooms by 2001. His strategy focused on affordable pricing and value-conscious guests, helping the resort become profitable. In 2004, ownership moved to American Casino & Entertainment Properties. Whitehall Street Real Estate Funds acquired ACEP in 2008. ACEP carried out a $20 million renovation beginning in 2010, with hotel-room remodeling and additional improvements continuing into 2012. Golden Entertainment acquired ACEP and the Stratosphere in 2017. Renovations and updates continued from 2018 through 2020. The property was renamed The STRAT Hotel, Casino & SkyPod on January 22, 2020. The rebrand emphasized the tower's observation and entertainment identity while retaining the hotel and casino functions. Today the resort's defining feature is its 1,149-foot tower, whose upper levels contain indoor and outdoor observation areas, dining, lounges, and thrill rides. The base includes hotel accommodations, gaming, restaurants, entertainment, and retail facilities.
- 2020
Rebrand as The STRAT
[1]The resort officially adopts The STRAT Hotel, Casino & SkyPod name.
- 2017
Golden Entertainment acquisition
[1]Golden Entertainment buys ACEP and the Stratosphere.
- 2008
Whitehall acquisition
[1]Whitehall Street Real Estate Funds acquires ACEP and the property.
- 1998
Icahn acquisition
[1]Carl Icahn purchases the resort.
- 1997
Chapter 11 bankruptcy
[1]Stratosphere Corporation files for bankruptcy protection after a difficult launch period.
- 1996
Stratosphere opens
[1]The approximately $550 million hotel-casino and tower complex opens on April 30.
- 1995
Vegas World closes and tower is topped out
[1]Vegas World closes for integration into the new resort, and the tower reaches its final structural height in November.
- 1994
Final height approved
[1]The city rejects the proposed 1,825-foot extension but permits a final height of 1,149 feet.
- 1993
Construction fire
[1]An unexplained fire damages parts of the unfinished tower but causes no structural damage or injuries.
- 1992
Tower construction begins
[1]Construction of the tower starts in February.
Products and positioning
A value-oriented, high-energy Las Vegas resort distinguished by its landmark tower, panoramic views, tower-top dining, observation facilities, and thrill rides.
Observation tower · 1996
SkyPod
The SkyPod occupies the upper levels of the 1,149-foot tower and provides indoor and outdoor observation areas with views across Las Vegas. It also contains dining, lounges, entertainment spaces, and access to the tower's thrill attractions. The tower is the resort's principal architectural landmark and differentiates the property from conventional hotel-casino resorts.
Gaming · 1996
Casino
The resort's casino forms part of the base complex and offers Las Vegas-style gaming within the hotel's broader hospitality and entertainment operation. It supports the property's positioning as an accessible, full-service casino resort rather than an observation attraction alone.
Hospitality · 1996
Hotel accommodations
The hotel includes rooms created through the remodeling of Vegas World's two existing towers as well as additional resort accommodation. Room and public-area renovations have been undertaken in multiple ownership periods, including major work after the 1998 acquisition and during the 2010s.
Attractions · 1996
Tower thrill rides
Big Shot, X-Scream, and Insanity use the tower's height and exposed position to create high-altitude amusement experiences. These rides complement the observation decks and make the tower a participatory attraction as well as a viewing platform.
Restaurant · 1996
Top of the World
Top of the World is the tower's revolving restaurant, combining elevated dining with panoramic views. A revolving restaurant was part of the tower concept from its early planning stages and remains one of the property's signature offerings.
Marketing campaigns
- 2020The STRAT rebrand
United States
The former Stratosphere was renamed The STRAT Hotel, Casino & SkyPod. The identity placed greater emphasis on the tower, observation experience, and contemporary resort presentation while preserving the property's hotel, casino, dining, and entertainment functions.
Outcome. The resort continues to operate under The STRAT name.
Brand decisions
2020
Rebrand the resort as The STRATStrategyBackground
Golden Entertainment undertook renovations and sought a modern identity for the former Stratosphere property.
Action taken
The property adopted the name The STRAT Hotel, Casino & SkyPod and continued updates to the resort experience.
Aftermath
The tower remained the central brand asset while the resort continued operating as a hotel, casino, and entertainment destination.
1998
Target value-conscious visitorsStrategyBackground
The resort had struggled after opening because of its location, incomplete facilities, and limited initial marketing.
Action taken
Under Carl Icahn, the property completed rooms and pursued an affordable, value-oriented operating strategy.
Aftermath
The resort became profitable under Icahn's ownership.
1994
Pursue the maximum city-approved tower heightStrategyBackground
The developers considered extending the tower to 1,825 feet, but aviation authorities opposed the proposal and the city rejected it.
Action taken
The project proceeded at the permitted height of 1,149 feet, still making it an exceptionally prominent Las Vegas landmark.
Aftermath
The completed tower became the defining attraction of the resort.
Recent events
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