The billionaire in question, Carl Icahn, has added about another billion to his wallet after announcing last week that he was selling his Nevada casinos including The Stratosphere, both Arizona Charlie’s, and the Aquarius in Laughlin. The total price tag? About $1.3 billion or roughly about a billion more than what he purchased those properties for over the last decade or so.

The purchasers are yet another vaguely named private equity fund, Whitehall Street Real Estate Funds. These folks are no strangers to Vegas, currently owning a 40% stake in the Las Vegas Hilton.

So, what will happen to the big tower and its little sister casinos around town? Probably not much to start with. These private equity firms are all about maximizing profits and so far the hotels they have been involved with have not seen the kind of major developments that other corporately owned hotels have been going through.

Case in point the Las Vegas Hilton, which in the several years since it was purchased by Colony Capital and Whitehall has seen some freshening of its casino and public spaces but no major new development. Meanwhile new towers and amenities are being added up and down The Strip to other hotels in an effort to remain competitive.

But there is a lot to work with at The Stratosphere. In addition to nearly 2,500 rooms, a big casino, some pretty good restaurants, and, of course, the iconic Tower there is an additional 17 acres of undeveloped land included in the deal that could turn into more of any of the above. In fact rumors had been circulating that designers had completed plans for a major renovation and expansion at the hotel, but whether Whitehall will move forward on those plans (if they exist at all) is a giant question mark.

As for Icahn, it’s hard to believe he will wash his hands of the whole gambling thing and be done with it. A master at snapping up undervalued companies and turning them around successfully for huge profits (some say “corporate raider,” others says “smart businessman”), it seems like Icahn might want to take that extra billion and throw it at one of the Strip properties begging for a new owner like The Riviera or The Frontier. Or he might concentrate his recent, very public efforts to get a controlling stake in Motorola. Yet another question mark.

In the meantime it will be business as usual at The Stratosphere and Arizona Charlie’s casinos until the sale is complete sometime later this year and probably beyond.

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Question: I saw the mention that you were going to be taking a week off for some minor surgery and that brought up two questions. Number one, how are you? And number two awhile back you ran a piece on what to do should you ever get sick in Las Vegas. Could you run that again – I think it’s really worthwhile.

Answer: Thanks for the e-mail Lee. Yes, I’m fine and thanks to some spectacular painkillers it was a fairly easy recovery this time.

The article you are referring to ran in 2005 after I had to check myself into the hospital in Las Vegas during a research trip to the city. I learned some important lessons that went something like this:

I started having an irregular heartbeat while working from my hotel room during the day and decided, during a lovely dinner at Hank’s restaurant at Green Valley Ranch that a trip to the emergency room was in order.

Lesson number one is to make sure you are carrying your health insurance information with you at all times. Luckily I had my card in my wallet but I know a lot of people will leave everything but cash, identification, and maybe one credit card back in the room while they are out running around in Las Vegas. One extra card is not that big of deal and could save you some hassles if something comes up.

Lesson number two, to paraphrase a Kenny Rogers song, is to know when to walk away and when to run. I know that this is your vacation and the last thing you want to do is spend it getting poked and prodded by doctors but if you’re not feeling well don’t ignore it. I ignored my situation for most of the day until it got to the point where I couldn’t anymore and while I doubt I would’ve really passed out during the dessert course of my meal it sure felt like it for awhile. It’s easy to get distracted by all the flashing everything in Las Vegas but don’t let it distract you from what’s really important like your health and well-being.

Lesson number three is to know where to go. There are hospitals with emergency rooms all over town and if you’re at any major hotel or casino they can direct you to the nearest ones. For reference sake though, Sunrise Hospital on Maryland Parkway at Desert Inn Road and The Desert Springs Medical Center on Flamingo at Eastern Avenue are the closest to The Strip. If you have a problem that doesn’t quite reach the level of an emergency room visit, there is the Harmon Medical Center, a 24-hour urgent care facility just one block off The Strip behind The Aladdin.

Lesson number four is to not overdo it. Las Vegas is a town built on excess, specifically yours. They do everything they can to get you to eat too much, drink too much, smoke too much, gamble too much, and sleep too little. My problem wasn’t really related to any of those things but remember that no matter how old you are, you aren’t as young as you used to be. Moderation will help you avoid a trip to the emergency room and will probably help you have a better time in general (I can say from experience that plane rides home from Vegas with a hangover are not fun).

The last lesson is a general one, not specifically related to Las Vegas: be an advocate for your own health. It’s easy to get intimidated by the surroundings of a busy hospital, especially when you aren’t feeling well. You think that there are people who are sicker than you, you don’t want to be a bother, you can wait. Forget it. Make sure that the people who are attending to you know what is wrong and know that you’re serious about getting it fixed. While I don’t recommend checking yourself out of the hospital against medical advice like I did (long story, later) it’s important to make sure that your concerns, if you have them, are heard.

Stay well.

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