In October 1989, Stupak submitted plans to the city for the approval of the neon sign tower, which would stand four times taller than the hotel.

"[5][6] Stupak's plans received widespread opposition,[7] including from Las Vegas city staff, who drafted an ordinance that would have limited signs to 35 feet.

[5] The Las Vegas City Council rejected the ordinance, considering it a poorly drawn measure aimed specifically at stopping Stupak's project.

[6] In February 1990, Stupak unveiled his revised plans for a $50 million, 1,012-foot (308 m) observation tower with a top floor that would include a revolving restaurant and four penthouse suites.

[11][12][13] In April 1990, the city council approved Stupak's tower, despite objections from the Federal Aviation Administration (FAA), which said it was 200 feet (61 m) too tall.

At the time, Stupak was trying to obtain financing for the now-$100 million project and was also under investigation by gaming officials over allegations that he used deceptive advertising to lure customers to Vegas World.

[17] The project was now planned to include the "world's first indoor African lion's park",[17] consisting of a jungle habitat at the tower base;[18][19] this feature was eventually scrapped.

[33] This new height was opposed by the FAA, the Airline Pilots Association, and McCarran International Airport, on the grounds that it would force changes in air traffic patterns.

[40] Grand Casinos completed its purchase of Vegas World at the end of 1994,[41] and the hotel-casino closed on February 1, 1995, for remodeling to be integrated into the resort.

The tower pod's unique design and its limited space required construction crews to carefully plan the installation of the second crane, which weighed 30 tons.

[50][48][51] Years before the Stratosphere's opening, a three-block neighborhood of houses in Meadows Village was demolished to make room for the resort's 4,500-space parking garage.

[52] Separately, the Stratosphere agreed to provide free rent and relocation expenses to approximately 140 residents in a nearby area of Meadows Village that was cleared for an eventual expansion of the resort.

[29][47][63][64] Media from around the world attended the event,[4] which was broadcast live by CNBC as well as television stations in Las Vegas and Los Angeles.

[4] Explaining his departure, Stupak cited disagreements with a majority of the board members,[81] saying that Grand Casinos executives ignored his advice and that he lacked influence considering his job title.

[84] The resort's second phase was halted later that month for financial reasons;[71][69] the additional hotel building consisted of an unfinished 15-story structure of concrete and rebar.

[92][93] The resort lost $254 million during 1996, but revenue improved during the final three months of the year thanks to the marketing program,[94] which focused on gaming rather than the observation tower.

Rainy and windy weather was another factor, reducing pedestrian traffic to the Stratosphere and interest in the tower's observation deck and roller coaster.

[102] Because of the low revenue, Stratosphere Corporation was removed from the NASDAQ in April 1997,[103][104] though the stock continued to be traded through the OTC Bulletin Board.

[108] In July 1997, Icahn announced plans to sell shares in his company, American Real Estate Partners, to raise money to purchase the Stratosphere entirely.

[120][121][122] Icahn's purchase received final approval from the Nevada Gaming Commission in August 1998,[123][124] and the Stratosphere exited bankruptcy two months later.

The topless pool concept was introduced to appeal to the Stratosphere's European visitors, and to attract a younger demographic that had become increasingly common in Las Vegas.

[144][145][146] In April 2007, Icahn announced that he would sell ACEP and its properties, including the Stratosphere, to a Goldman Sachs affiliate known as Whitehall Street Real Estate Funds.

Among the attendees to the event were Nevada governor Steve Sisolak, congresswoman Dina Titus, Sammy Hagar, Guy Fieri, and Rick Springfield.

[190][191][192] Renovations were largely finished at the time, with the exception of a self-check-in area and remodeling that was scheduled to begin on the casino's north side during the second quarter of 2020.

Hundreds of people compete each year in the stair-racing event, in which individual participants race to the top of the tower for the best time, separated from each other by one-minute intervals.

[217] The base of the tower starts with three legs made of concrete, each weighing approximately 4,000,000 pounds (1,800,000 kg) and rising 264 feet (80 m), before meeting to form a center.

[264] The roller coaster ride failed to get the support of the city council, and the Stratosphere withdrew its financing of $250,000 for the monorail project, which would have had a stop at the resort.

[285] Because of the resort's financial problems, the next phase of the Tower Shops was halted in August 1996,[69][288] leaving the mall with 69,000 sq ft (6,400 m2) of retail space.

[302][308][309] A small-scale afternoon show, Viva Las Vegas, opened in the Broadway showroom in October 1996, in an effort to improve the resort's finances.

[315][316][317] In 2004, the resort's Theater of the Stars showroom launched a topless vampire-themed show by Tim Molyneux called Bite, featuring rock and roll music.