The resort struggled financially during its first year, for a number of reasons, including its location away from the Strip and other resorts. The Stratosphere was built in a crime-ridden neighborhood known as Naked City. Portions of the resort were unfinished at the time, including a hotel tower and sections of the shopping mall. The $550 million Stratosphere complex opened on April 30, 1996. The observation tower, which cost $70 million to build, was topped off on November 4, 1995. New hotel towers were also built to accompany the existing buildings. Vegas World closed on February 1, 1995, and its hotel towers were remodeled to serve as the hotel for the Stratosphere. The Federal Aviation Administration opposed the new height, and the city ultimately rejected it, while allowing Stupak to go as high as 1,149 ft (350 m). However, in 1994, Stupak considered extending the height to 1,825 ft (556 m), seeking the title of tallest free-standing structure in the world. The tower was originally proposed with a height of 1,012 ft (308 m). In order to complete the project, Stupak partnered with Grand Casinos, owned by his poker friend Lyle Berman.

Stupak then had difficulty acquiring funds to finish the tower. A fire of unknown origin occurred on the tower in August 1993, during construction. Construction of the Stratosphere Tower began in February 1992. The idea soon evolved into an observation tower with a rooftop restaurant. A decade after its opening, Stupak announced plans for a giant neon sign for Vegas World, to be built on adjacent property. The resort is sometimes considered to be a Strip property, although Clark County does not officially recognize it as such, stating that the Strip does not extend into city limits.Ī portion of the property was previously occupied by Vegas World, a hotel and casino that Bob Stupak opened in 1979. The Stratosphere is located within city limits on Las Vegas Boulevard, just north of the Las Vegas Strip. The hotel and casino facilities are situated at the base of the tower, and the resort also includes a showroom and a shopping mall. The top of the tower also has several thrill rides. The tower is topped by a skypod which includes a revolving restaurant, lounges, and observation decks. It is also the second-tallest observation tower in the Western Hemisphere, surpassed only by the CN Tower in Toronto, Ontario.

It includes a 1,149 ft (350.2 m) observation tower, the tallest in the United States. The Strat Hotel & Casino & Tower (formerly the Stratosphere) is a hotel and casino located in Las Vegas, Nevada, United States.

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