American Real Estate Partners, L.P., through its subsidiaries, engages in the gaming, real estate, and home fashion businesses. It owns and operates gaming properties in Nevada. The company also engages in the rental real estate, property development, and associated resort activities. As of September 30, 2006, it owned 39 rental real estate properties, which include fee and leasehold interests in real estate in approximately 20 states. The company also focuses primarily on the construction and sale of single-family houses, multi-family homes and lots in subdivisions and planned communities, and raw land for residential development, as well as develops residential communities in Naples,...