SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                -----------------

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15 (d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                                NOVEMBER 14, 2003
                            ------------------------
                Date of Report (Date of earliest event reported)

                       AMERICAN REAL ESTATE PARTNERS, L.P.
           ----------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)



                                                            
       DELAWARE                    1-9516                         13-3398766
   ----------------               --------                      ---------------
(State of Organization)   (Commission File Number)    (IRS Employer Identification Number)


                             100 SOUTH BEDFORD ROAD
                               MT. KISCO, NY 10549
                     ---------------------------------------
         (Address of Registrant's Principal Executive Office (Zip Code)

                                 (914) 242-7700
                               ------------------
              (Registrant's telephone number, including area code)

                               ------------------
          (Former Name or Former Address, if Changed Since Last Report)

ITEM 5. OTHER EVENTS

          On November 14, 2003, the Registrant announced its 2003 third quarter
          and nine months financial results. Reference is made to the press
          release, dated November 14, 2003, annexed hereto as Exhibit 99.7 for
          information regarding the announcement.

ITEM 7. EXHIBITS

          Description of Document


                                       1








Exhibit No.

 99.7 -   Press release, dated November 14, 2003 - American Real Estate
          Partners, L.P., Reports Third Quarter and Nine Months Results

SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                      AMERICAN REAL ESTATE PARTNERS, L.P.
                      (Registrant)

                      By: American Property Investors, Inc.
                          General Partner

                      By: /s/ John P. Saldarelli
                          -----------------------------------------
                          John P. Saldarelli
                          Chief Financial Officer, Secretary and Treasurer

Date:  November 17, 2003


                                  EXHIBIT INDEX





Exhibit Number       Description                                  Page No.
--------------       -----------                                  --------
                                                              
    99.7             Press Release dated November 14, 2003          3



                                       2