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  September 5, 2001
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Home > Company Index > Real Estate > Property Investment & Management > American Real Estate Partners, L.P.

American Real Estate Partners, L.P.
NYSE: ACP
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 PROFILE
American Real Estate Partners (AREP) is acting like it wants to own all of America. An arm of billionaire corporate raider Carl Icahn (owner of 85% of the firm), AREP's real estate holdings include subdivisions, condominiums, supermarkets, truck terminals, golf courses, banks, and other retail, office, and industrial properties. But the firm has started to play games. Its biggest moneymaker is the Stratosphere Casino, Hotel, and Tower in Las Vegas, which it bought (in association with other Icahn interests), brought out of bankruptcy, and now is expanding by 1,000 rooms. AREP is pursuing plans (and gaming licenses) to work similar magic with the financially troubled casinos in Atlantic City, New Jersey.

 COMPETITION
JMB Realty Corporation (dossier)
MGM Mirage (MGG)
Park Place Entertainment Corporation (PPE)

 STOCK ANALYSIS
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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 325.20
1-Yr. Sales Growth: 125.1%
Employees: 2,600
Revenue per employee: $125,076.92

 KEY PEOPLE
• Carl C. Icahn
    CEO
• John P. Saldarelli
    CFO

 CONTACT INFO
100 S. Bedford Rd.
Mount Kisco, NY 10549
US
Phone: 914-242-7700
Fax: 914-242-9282

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