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Business
Apr. 22, 2008
Copyright © Las Vegas Review-Journal

Filing: Exec resigns as chief

By ARNOLD M. KNIGHTLY
REVIEW-JOURNAL

Richard Brown
Resigns as chief executive of American Casino & Entertainment Properties

Richard Brown resigned Monday as chief executive officer of the parent company of the Stratosphere and both Arizona Charlie's, a Securities and Exchange Commission filing shows.

Brown, 60, could not be reached for comment. No time frame was given to name his replacement.

Brown is also president and director for the company, American Casino & Entertainment Properties. It's unclear from the filing whether Brown will also cede those titles.

American Casino, which also owns the Aquarius in Laughlin, said in the filing that "there were no know disagreements with Mr. Brown on any matters relating to the company's operations, policies or practices."

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    • The resignation comes two months after an affiliate of Goldman Sachs bought American Casino.

    Whitehall Street Real Estate Funds paid $1.3 billion Feb. 20 to buy the gaming subsidiary controlled by billionaire financier Carl Icahn.

    Brown and the buyers told gaming regulators in January he would continue to oversee the company's day-to-day operations.

    Brown had led the gaming company since June 2002. From January 2001 to June 2002, he served as Chief Operating Officer for all three properties. He joined the Stratosphere in March 2000 as executive vice president of marketing.

    Brown held executive positions with Harrah's Entertainment and Hilton Gaming Corp. before joining the Stratosphere.

    Contact reporter Arnold M. Knightly at aknightly@reviewjournal.com or 702-477-3893.

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    Heart broken wrote on April 23, 2008 10:51 AM: I'm going to miss that sexy, sexy man.


    The Donald wrote on April 22, 2008 10:06 AM: Sounds like he was forced out. Typical move after a buyout.


    T wrote on April 22, 2008 06:26 AM: They should get rid the internal audit director to save money.