Who owns which Las Vegas casinos
Last Update: May 2022
If you thought most casinos in Vegas were independently owned, think again. All the casinos together are owned by just a handful of companies. In fact, just two companies together own the overwhelming majority of strip properties. So, if you have a bad experience at one casino and plan to take your business next door, there's a good chance the new casino you walk into will have the same owner!
Most of the Strip
A whopping 18 of the 29 strip casinos are owned by just two companies. Bye-bye, competition!
- Mandalay Bay
- MGM Grand
- The Mirage**
- Park MGM
- New York New York
*Sale of Cosmo to MGM
expected to close in the first half of 2022.
**Sale of Mirage to Hard Rock Intl. expected to close in the second half of 2022.
The 2005 merger between MGM & Mandalay created the largest gaming company in the world at that time, with 28 properties in five states, annual revenues of $6B, and control of 40% of the slots, 44% of the table games, and 49% of the rooms (36,000 of 73,000) on the Las Vegas Strip.
- Caesars Palace
- The Cromwell
- Linq / O'Sheas
- Planet Hollywood
- Rio (off-strip)
The 2005 merger between Caesars & Harrah's surpassed MGM/Mandalay to create the largest gaming company in the world at the time, with 40 properties over 100,000 employees. The merged company was initially known as Harrah's Entertainment, then in Nov. 2010 the name changed to Caesar's Entertainment Corp.
Other Strip Casinos
Phil Ruffin: Circus Circus, Slots-a-Fun, Treasure Island
Casino Royale: M. Elardi
Encore, Wynn: Wynn
Mirage: Being sold to Hard Rock, to finalize after June 2022
Palazzo, Venetian: Apollo
Resorts World: Genting
Sahara: Meruelo Group
Strat: Golden Ent. (also owns Arizona Charlie's in LV, Aquarius & Edgewater in Laughlin, Gold Town, Lakeside, & Pahrump Nugget in Pahrump)
Tropicana: Penn National
City Center (real estate): Blackstone
- Main Street Station
Derek & Greg Stevens
Other Vegas Casinos
Arizona Charlie's: Golden Entertainment
OYO: OYO, Highgate
Palms: San Manuel Band
Silver Sevens: Affinity
Silverton: Ed Roski
South Point: Michael Gaughan
Tuscany: Heers Family Trust
Westgate: Westgate Resorts
- Main Street Station
- Eastside Cannery
- Gold Coast
- Sam's Town
- Eldorado (Henderson)
- Joker's Wild (Henderson)
- Sam's Town Gold River (Laughlin)
Red Rock Resorts is the majority
owner (2019) of Station.
- Boulder Station
- Fiesta Rancho
- Palace Station
- Red Rock
- Santa Fe Station
- Sunset Station
- Texas Station
- Wildfire (various locations)
- Wild Wild West
- Barley's (Henderson)
- Fiesta Henderson
- Green Valley Ranch
- The Greens
- Gold Rush
- Magic Star
- Renata's Casino
- Wildfire (Henderson)
- Thunder Valley (Lincoln, CA)
Peak consolidation on the Strip was in 2005, when two companies owned 19 of the 29 Strip properties. (MGM: Aria, Bellagio, Circus Circus, Excalibur, Luxor, Mandalay Bay, MGM Grand, Mirage, Monte Carlo, NY NY. Caesars: Bally's, Caesars Place, Cromwell, Flamingo, Harrah's, Linq/O'Sheas, Paris, Planet Hollywood, Rio, Treasure Island).
Real estate vs. casino ownership
The list above is who operates the casino business, not who owns the real estate (land+buildings), which is not always the same company. For example, at your local Mel's Diner, Mel owns the restaurant business, but probably rents the property from a landlord. With casinos, usually the same company owns both the business and the real estate, but increasingly there are separate owners for the two pieces.
Some Vegas casinos started selling their real estate assets in 2017, in order to free up cash to weather recessions. (The casino then rents the property from the new landlord.) In light of COVID-19, that action seems downright prescient.
MGM Resorts owns a bunch of casinos (not just the MGM Grand), and Caesars Entertainment also owns a bunch of casinos (not just Caesars Palace). In 2017 MGM Resorts formed MGM Growth Properties to buy MGM-R's real estate, and Caesars Entertainment formed VICI to buy CE's real estate. In a twist, in 2021 VICI is acquiring MGM Growth Properties, so an offshoot of Caesars Entertainment is gonna own the real estate for MGM Resorts casinos. That means that VICI will own the real estate assets of most casinos on the strip.
Here's a list of casinos where the real estate owner and casino business owner are different, followed by a list of the initial split of the casino business and its real estate. In all of those cases when the real estate was sold, the casino owner remained the same, except that Sands sold the Venetian/Palazzo real estate to one company and the casino business to another.
|Real estate vs. Casino ownership|
|Casino||Casino owner||Real estate owner|
|Caesars Palace||Caesars Entertainment||VICI|
|Harrah's Las Vegas||Caesars Entertainment||VICI|
|Bellagio||MGM Resorts||VICI (+ Blackstone?)|
(when the sale closes in 2022)
|Blackstone REIT, Cherng Family Trust, Stonepeak Partners|
|Mandalay Bay||MGM Resorts||VICI (+ Blackstone?)|
|MGM Grand||MGM Resorts||VICI (+ Blackstone?)|
|Tropicana||Penn National||Building: Bally's Corp.
Land: Gaming & Leisure
|Real estate spinoffs|
|Casino||Real Estate seller||Real estate buyer||Real Estate Sold|
|Cosmopolitan||Blackstone||Blackstone REIT, Cherng Family Trust, Stonepeak Partners||Sept 2021|
|Aria||MGM Resorts||Blackstone||July 2021|
|Venetian, Palazzo||Apollo||VICI||Mar. 2021|
|Tropicana||Penn National||Building: Bally's
Land: Gaming & Leisure
|Mandalay Bay||MGM Resorts||MGM Growth + Blackstone||Jan. 2020|
|MGM Grand||MGM Resorts||MGM Growth + Blackstone||Jan. 2020|
|Rio||Caesars Entertainment||Dreamscape||Dec. 2019|
|Bellagio||MGM Resorts||MGM Growth + Blackstone||Nov. 2019|
|Caesars Palace||Caesars Entertainment||VICI||Oct. 2017
|Harrah's Las Vegas||Caesars Entertainment||VICI||Dec. 2017|
The three Bally's
There are three companies named Bally's:
- Bally's Las Vegas Hotel & Casino on the Vegas strip, which is owned by Caesars Entertainment.
- Bally's Corporation, which owns lots of casinos (but not the Bally's Casino on the strip), and is slated to buy the operations of the Tropicana.
- Bally's Manufacturing, later Bally's Entertainment, which made slot machines and pinball machines, and owned amusement parks and gyms, before it went out of business.
- VICI, which Caesars Entertainment created to buy the real estate of its casinos, acquires MGM Growth Properties, which MGM Resorts created to buy its own casino real estate, in a $17.2 billion deal. That means that an offshoot of Caesars Entertainment, a competitor of MGM Resorts, is gonna own the real estate for MGM Resorts casinos. It also means that VICI is gonna own most of the real estate on the Vegas Strip. The deal closed on 4/29/22. (CNBC, Aug. 2021, BusinessWire Apr. 2022)
- Gaming & Leisure sells the Tropicana buildings to
Bally's Corp., which, confusingly, has no relation to
the Bally's Casino a few doors down, which is owned by
Caesars. More confusing, there are now three
different owners of a piece of the Tropicana: Bally's owns
the buildings, Gaming & Leisure owns the land, and Penn
National operates the casino business. The deal is expected
to close in the second half of 2022. (G&L,
Weekly, Feb. 2022)
- Las Vegas Sands sells the casino business of Venetian/Palazzo to Apollo Global for $2.25B, and the real estate to VICI for $4.0B. The sale includes the Venetian Expo Center (formerly the Sands Expo Center). The sale price was $2.25B. Since this ends Las Vegas Sands' business in Vegas, it will likely change its name to just "Sands". (source 1, source 2, source 3 • Feb. 23, 2022)
- MGM Resorts sells The Mirage to Hard Rock International for $1.1 billion, with the sale expected to close in the second half of 2022. (CNN, Dec. 2021)
- Station Casinos sells the Palms to the San Manuel Band
of Mission Indians, for $650 million. That's more
than I make in a year! The sale closed in Dec. 2021. (News3LV,
May 2021 • NV
- Blackstone splits up the Cosmopolitan, selling the casino business for $1.6 billion to MGM Resorts, and the real estate for $5.65 billion to Blackstone REIT, Cherng Family Trust, and Stonepeak Partners. This is the first new strip casino for MGM since it opened Aria in 2009. The sale is expected to close in the first half of 2022. (News3LV, Sept. 2021)
- MGM Resorts sells Aria and Vdara to Blackstone. CityCenter (which comprises the Aria casino, various hotels, and retail) was originally owned 50/50 by MGM Resorts and Infinity World. In July 2021, MGM shuffled things around, buying out Infinity World (so MGM owned the real estate 100%), then immediately selling Aria and Vdara to Blackstone. (Vital Vegas, July 2021)
- MGM Resorts sells two acres at CityCenter (next to Cosmopolitan) to developers for $80M. The developers plan to build multilevel retail/dining, but no hotel or casino. This was the original location of the ill-fated Harmon hotel. (News3LV, VitalVegas, April 2021)
- Circa opens, started by Derek & Greg Stevens, who also own/operate The D and Golden Gate. (Oct. 2020)
- Caesars sells its Ballys brand to another casino group (Twin River Holdings). That allows Twin Rivers to use the Ballys name for its family of casinos. (Casino.org, Oct. 2020)
- Caesars Entertainment and Eldorado merge. The two casino groups combine their respective companies in a $17 billion merger, creating the world's largest gambling group, with 60 casinos in 16 states. (NNBW, Yogonet) (July 2020)
- Caesars sells the real estate of the Rio to Dreamscape,
but continues to operate the casino itself. (Press
release, Dec. 2019)
- Circus Circus and Slots-a-Fun sold to Phil Ruffin by MGM Resorts. (CDC) (Dec. 2019)
- Hooters sold to OYO, to rebrand as OYO. (LV Sun) (Aug. 2019)
- Lucky Dragon casino/hotel real estate sold to Don Ahern. (April 2019)
- SLS (now Sahara) is sold to Meruelo Group from
- Hard Rock Casino is sold to Virgin, to become Virgin Las Vegas in late 2020. (Fortune) (Mar. 2018)
- Stratosphere's owner, American Casino & Entertainment, is bought out by Golden Entertainment, making Golden the new owner of the Strat. (iGB) (Mar. 2018)
- Caesars Entertainment sells the real estate of Harrah's Las Vegas to Vici (for $1.1B), and becomes Vici's tenant (for $87M/year). (Dec. 2017)
- Caesars Entertainment sells the real estate of Caesars Palace. In the first example of strip casinos splitting the ownership of its casino business from the property itself, Caesars sells the real estate of its casino to Vici, and becomes Vici's tenant. Note, reporting on this was ambiguous and inconsistent; e.g., Las Vegas Sun said that Caesars sold "almost all" of its properties to Vici, but it was really just only Caesars Palace. (Vici's website shows the only Vegas properties it owns as Caesars, and Harrah's, which they bought in Dec. 2017.) Vici's press release was similarly unhelpful, being 95% marketing B.S. and short on details. (Oct. 2017)
- Cannery and Eastside Cannery are sold to Boyd
Gaming by Cannery Casino Resorts. (PR)
- The Palms is sold to Station Casinos. (PR) (Oct. 2016)
- Golden Gate: Derek Stevens acquires remaining 35%. (LVRJ) (Nov. 2015)
- Las Vegas Club sold to Derek Stevens. (LVRJ) (Aug. 2015)
- LVH (formerly LV Hilton, now Westgate) is sold
to Westgate. (RGJ)
- Cosmopolitan sold to Blackstone by Deutsche Bank. (Forbes) (May 2014)
- Jackie Gaughan: Legendary downtown casino owner dies, at age 93. (LVA) (March 2014)
- Treasure Island sold to Phil Ruffin by MGM Resorts. (LV Sun) (March 2009)
- Binion's sold to TLC. (Binion's) (March 2008)
- Golden Gate: Derek Stevens acquires 50% stake. (LVRJ) (March 2008)
- Gold Spike is sold to the Siegel Group by Gregg
- Gold Spike is sold to Gregg Covin by Tamares. (LVRJ)
- Sahara is sold to SBE and Stockbridge by Gordon Gaming. (NBC) (March 2007)
- South Coast (now South Point) sold to Michael
Gaughan by Boyd. (LVRJ)
- Gold Spike, Las Vegas Club, The Plaza, and the Western are sold to Tamares by Barrick Gaming. (LV Sun) (June 2005)
- Gold Spike, Las Vegas Club, The Plaza, and the Western are sold by Jackie Gaughan to Barrick Gaming for $82 million, along with 35 acres of land and two downtown motels. Gaughan retains control of the El Cortez. (March 2004)
- Boyd Gaming and Coast Casinos merged in a deal reportedly worth $1.3 billion. Coast had Barbary Coast, Gold Coast, Orleans, and Suncoast. Boyd had Stardust, Fremont, California, Main St. Station, Sam's Town, Joker's Wild, the Eldorado in Henderson, half of the Borgata in Atlantic City, and casinos in the Midwest and South. (Feb. 2004)
- TLC acquires Four Queens. (LV Sun) (May 2003)
Who owns what
Because this is how people search for casino ownership, this section helps the search engines answer those questions.
Who owns Aria casino? Aria is owned by MGM Resorts.
Who owns Bally's casino in Las Vegas? Bally's is owned by Caesars Entertainment.
Who owns Bellagio casino? Bellagio is owned by MGM Resorts.
Who owns Caesars Palace casino? Caesars Palace is owned by Caesars Entertainment, which also owns a bunch of other casinos in Las Vegas and the U.S.
Who owns Casino Royale in Las Vegas? Casino Royale is owned by M. Elardi, and is Elardi's only casino property.
Who owns Circus Circus casino? Bally's is owned by Phil Ruffin, who also owns Slots-A-Fun and Treasure Island.
Who owns Cosmopolitan casino? Cosmo is owned by MGM Resorts.
Who owns Cromwell in Las Vegas? Cromwell is owned by Caesars Entertainment.
Who owns Encore casino? Encore, the sister casino of Wynn, is owned by Wynn Resorts, which also owns casinos elsewhere in the U.S. as well as in Macau, China.
Who owns Excalibur casino? Excalibur is owned by MGM Resorts.
Who owns Flamingo casino in Las Vegas? Flamingo is owned by Caesars Entertainment.
Who owns Harrah's casino in Las Vegas? Harrah's is owned by Caesars Entertainment.
Who owns The Linq in Las Vegas? Linq, with its casino called O'Sheas, is owned by Caesars Entertainment.
Who owns the Luxor casino? Luxor is owned by MGM Resorts.
Who owns Mandalay Bay casino? Mandaly Bay is owned by MGM Resorts.
Who owns the MGM Grand? The MGM Grand casino business is owned by MGM Resorts, which owns a bunch of other casinos on the Vegas strip and elsewhere. The real estate (buildings and land) is owned by VICI and Blackstone.
Who owns the Mirage casino? The Mirage is owned by MGM Resorts.
Who owns New York New York casino? New York New York is owned by MGM Resorts.
Who owns the Palazzo casino? Apollo owns the Venetian and Palazzo.
Who owns Paris casino in Las Vegas? Paris Las Vegas is owned by Caesars Entertainment.
Who owns Park MGM? Park MGM is owned by MGM Resorts. It's the only non-smoking casino in Las Vegas.
Who owns Planet Hollywood casino? Planet Hollywood in Las Vegas is owned by Caesars Entertainment.
Who owns Resorts World? Resorts World is owned by Genting.
Who owns Sahara casino? Sahara is owned by Meruelo Group, and is managed by a bunch of dickheads.
Who owns Slots-A-Fun? Slots-a-Fun is owned by Phil Ruffin.
Who owns the Strat casino? Strat is owned by Golden Entertainment.
Who owns Treasure Island? Treasure Island is owned by Phil Ruffin.
Who owns the Tropicana casino in Las Vegas? Tropicana in Vegas is owned by Penn National.
Who owns the Venetian casino? Apollo owns the Venetian and Palazzo.
Who owns the Wynn casino in Vegas? Wynn and Encore are owned by Wynn Resorts.
My related lists
- The list at Nick Christenson's LV Revealed is pretty outdated (and that's despite the recent "Last update" date; in reality, lots of stuff changed before that date but those changes aren't listed on the site). I'm hoping he might overhaul the page someday, same as I did with mine. Also, his page was the inspiration for my own list, so I have to give him some credit here.
- Who Owns Vegas doesn't seem to have been updated since 2011.