Who Owns

Who Owns Las Vegas

The ownership of Las Vegas, particularly the Las Vegas Strip, is highly concentrated among a few major companies. Although there is no single owner of the entire city, the majority of the land and buildings of casinos and resorts on the Strip are controlled by large corporations and real estate investment trusts (REITs), separate from the operators of the casinos themselves[4].

Major Las Vegas Strip landlords:

  • Vici Properties is the largest landlord on the Las Vegas Strip, owning the land and real estate for the majority of the casinos, including many operated by Caesars and MGM. After acquiring MGM Growth Properties and the Venetian, Vici Properties became by far the dominant property owner on the Strip[2].
  • Gaming and Leisure Properties Inc. owns significant real estate, including the land for the proposed A’s baseball stadium and portions of the former Tropicana site[1].
  • Blackstone owns city-center real estate such as Aria and Vdara[4].

Major casino operators (businesses running the casinos):

  • MGM Resorts operates many of the Strip’s most notable properties, including Bellagio, MGM Grand, Mandalay Bay, Luxor, Excalibur, New York-New York, Park MGM, and Aria[4][6].
  • Caesars Entertainment operates Caesars Palace, The Cromwell, Flamingo, Harrah’s, Horseshoe, Linq/O’Sheas, Paris, and Planet Hollywood[4][6].
  • Other key owners/operators include:
    • Wynn Resorts (Encore, Wynn)
    • Hard Rock International (Mirage)
    • Genting (Resorts World Las Vegas)
    • Golden Entertainment (The Strat and others)
    • Apollo Global Management (operates Venetian and Palazzo, with real estate owned by Vici)

Other city assets and casino ownership:

  • Outside the Strip, local casinos such as those from Station Casinos/Red Rock Resorts and boutique developments (such as the Dream Casino) are owned and developed by separate, often smaller, casino operators[3].
  • Some resorts and casinos are individually owned by private investors, such as Phil Ruffin (e.g., Circus Circus, Treasure Island), and M. Elardi (Casino Royale)[4].

In summary, Las Vegas is primarily owned and managed by a small set of powerful corporate groups—mainly Vici Properties, MGM Resorts, Caesars Entertainment, and a few others—with a distinct separation between the entities that own the land/buildings and those that operate the casinos and entertainment venues[2][4][6].

References

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