Who owns which Las Vegas casinos
Last Update: October 30, 2024
Takeaways:
- A handful of companies own most Vegas casinos. Two of them together own over half of the Strip casinos. (Peak consolidation was 66% in 2005.)
- The property owner is often different from the casino owner. The list below is for who owns the casino business, which might not be the same company that owns the buildings. (more...)
Most of the Strip
A whopping 17 of the 32 strip casinos are owned by just two companies. Bye-bye, competition!
- Aria
- Bellagio
- Cosmopolitan
- Excalibur
- Luxor
- Mandalay Bay
- MGM Grand
- New York New York
- Park MGM
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
- Flamingo
- Harrah's
- Horseshoe
- Linq / O'Sheas
- Paris
- Planet Hollywood
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
Casino Royale: M. Elardi
Circus Circus, Slots-a-Fun, Treasure Island: Phil Ruffin
Encore, Wynn: Wynn
Fontainebleau:
Fontainebleau Dev. and Koch Real Estate
Mirage: Hard Rock Intl.
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)
City Center (real estate): Blackstone
Downtown Vegas
Boyd Gaming
- California
- Fremont
- Main Street Station
Derek & Greg Stevens
(reportedly 78%
+ 22%)
TLC Enterprises
- Binion's (3/08)
- Four Queens (2003)
Individually-owned
- Downtown Grand
(CIM Group/Fifth Street Gaming) - El Cortez: Kenny Epstein
- Golden Nugget: Landry's, 2015 (itself owned by Tilman Fertitta)
- Plaza (Tamares, 2005)
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
Virgin: Mohegan Tribe (they confirmed to me that they're the owner, not just operator)
Westgate: Westgate Resorts
- California
- Fremont
- Main Street Station
- Aliante
- Cannery
- Eastside Cannery
- Gold Coast
- Orleans
- Sam's Town
- Suncoast
- Eldorado
- Joker's Wild
Red Rock Resorts is the majority
owner (2019) of Station.
Vegas
- Boulder Station
- Durango
- Fiesta Rancho*
- Palace Station
- Red Rock
- Santa Fe Station
- Sunset Station
- Wildfire (various locations)
Other Nevada
- Barley's (Henderson)
- Fiesta Henderson*
- Green Valley Ranch
- The Greens
- Gold Rush
- Magic Star
- Renata's Casino
- Texas Station (North Las Vegas)*
- Wildfire (Henderson)
Other U.S.
- Thunder Valley (Lincoln, CA)
*Closed for COVID and never reopened
Ownership timeline
Color coding: Bally's name/Tropicana City Center / Aria / Vdara Cosmopolitan Derek Stevens Downtown (other) Jackie Gaughan MGM Palms Phil Ruffin Venetian Vici
| Date | Casino or Business | Seller | Buyer | What | Price | Source | Notes |
| Expected Q3 2025 | IGT and Everi |
IGT and Every |
Apollo | The business of the two slot machine manufacturers | $6.3B |
News3LV |
(details) |
| end of 2024 | Linq Promenade |
Caesars Ent. |
TPG Real Estate | The mall area connecting the Strip to the Big Roller ferris wheel | $275M |
VitalVegas | |
| 10/29/24 | World Series of Poker (brand) |
Caesars Ent. |
NSUS Group | WSOP brand | $500M |
NV Independent |
(details) Caesars had
acquired the brand in 2004 from the Binion family. |
| 6/12/24 | Land, site of former Riviera |
Las Vegas Convention Center & Visitors Authority |
(1) 65SLVB (Brett Torino + Paul Kanavos) (2) Fontainebleau |
real estate + casino | $125M |
YogoNet |
(details) LVCCVA bought
the site in 2015 in order to expand the convention center,
but instead contracted in 2023 to sell the 10 acres to
65SLVB for $112.5M. By 6/24 the sale hadn't happened
yet, and LVCCVA split the property into two 5-acre
parcels, with 65SLVB agreeing to sell the
(non-strip-adjacent) 5 acres to Fontainebleau for $112.5M. |
| 12/13/23 | Fontainebleau (opens) |
Fontainebleau Development, and Koch Real Estate (builder & owner) |
real estate + casino | $3.7B (build cost) |
NV Independent |
(details) The newest
(at the time) ground-up casino on the Vegas Strip. |
|
| 12/5/23 | Durango (opens) |
Station Casinos (builder & owner) |
real estate + casino | $780M (build cost) |
KLAS |
(details) Station
builds a new ground-up casino in west Las Vegas. |
|
| Q4 2023 (expected) | Bellagio |
Blackstone Real Estate Income Trust (BREIT) | Realty Income Corp. | real estate | $950M |
PR Newswire |
(details) Blackstone
sells part of its interest in Bellagio. The result
will be 73.1% BREIT, 21.9 Realty Income, 5% MGM Resorts. |
| 10/2/23 | Rio |
Caesars Ent. | Dreamscape | casino operations | Yogonet |
(details) Caesars had
already sold the real estate to Dreamscape back in
2019. Dreamscape now takes over the casino
operations, too. |
|
| May 2023 | Undeveloped land between Bellagio and Cosmopolitan |
Steve Wynn | MGM Resorts | real estate | $54M |
Casino.org |
(details) MGM plans to
put retail shopping on the 1.6 acres. |
| April 2023 | Undeveloped land across from Luxor |
MGM Resorts | Three Affiliated Tribes of Fort Berthold Indian Reservation | real estate | not disclosed |
LVRJ, U.S. News |
(details) MGM sold the
land that was the site of the 10/1/17 shooting, the
deadliest in U.S. history, with 60 killed and over 850
injured. |
| 3/16/23 | Undeveloped land S. of Fontainebleau |
Las Vegas Convention and Visitors Authority | Brett Torino & Paul Kanavos | real estate | $125M |
LVRJ |
(details) LVCVA agreed
to sell ten acres at the SE corner of S. LVB and Elvis
Presley Blvd. to developers. See 6/12/24 for update. |
| 1/9/23 | Mandalay Bay + MGM Grand | Blackstone | VICI | real estate | $1.27B |
Seeking Alpha, The Street |
(details) The real
estate was jointly owned by VICI (50.1%) and Blackstone
(49.9%). With this deal, VICI is buying out
Blackstone's portion. |
| Dec. 2022 | Undeveloped land south of the strip | Station Casinos | HCA Healthcare | real estate | $62M |
Casino.org |
(details) Station sold
56.6 acres of land across the street from the 126 acres it
bought in July 2022. |
| 12/26/22 | Mirage | MGM Resorts | Hard Rock International | casino | $1.1B |
AP, Hospitality Design, CNN |
(details) Hard Rock Intl. is owned by the Seminole Tribe of Florida, which has no relation to the earlier Hard Rock Casino on Harmon Ave. which closed in 2020. HRI plans to build a guitar-shaped hotel, and will probably get rid of the beloved volcano. The real estate will continue to be owned by VICI. |
| 9/27/22 | Tropicana | Gaming & Leisure (buildings), PENN Ent. (casino) | Bally's | casino + buildings (not land) | $148M |
News3LV |
(details) Bally's bought the "Non-land assets", which means the buildings + casino business. This is odd because usually one company owns all the real estate (buildings+land), but now one company owns the land (Gaming & Leisure) and another the buildings (Bally's). • The Bally's Corp. which bought Tropicana is no relation to the Bally's Casino a few doors down, which is owned by Caesars. |
| 7/18/22 | Undeveloped land south of the Strip | (not reported) | Station Casinos | real estate | $172.4M | Yogonet |
(details) Station bought 126
acres at LVB and Cactus Ave (and sold the land across
the street in Dec. 2022) |
| 6/17/22 | land at SE corner of LVB at Harmon | Haim Gabay, et al | Fertitta Ent. / Tilman Fertitta | real estate | $240M | Pechanga |
(details) The new owner plans
to build a casino resort. The area had hosted a
Travelodge, the Hawaiian Marketplace, and a parking lot. |
| 5/17/22 | Cosmopolitan | Blackstone REP | MGM Resorts | casino | $1.6B | Travel Weekly |
(details) See below for real estate sale. This is the first new strip casino for MGM since opening Aria in 2009. |
| 5/17/22 |
Cosmopolitan | Blackstone REP | Blackstone REIT, Cherng, Stonepeak | real estate | $5.65B | Blackstone, News3LV |
(details) See above for casino sale |
| 4/29/22 | MGM Growth Properties | MGM Growth Properties |
VICI | real estate business |
$17.2B |
BusinessWire, CNBC |
(details) Caesars Ent. created VICI to buy the real estate of its casinos, and MGM Resorts created MGM Growth Properties to do the same. With this deal, VICI bought MGM Growth, so bizarrely, MGM's landlord is now an offshoot of its main competitor, Caesars. This also means that VICI owns most of the real estate on the strip: the Caesars Ent. casinos and MGM Resorts' casinos. With this sale, VICI acquired the real estate of Excalibur, Luxor, Mandalay Bay, MGM Grand, Mirage, NY NY, and Park MGM. Note: This sale marks the end of MGM Growth. |
| 2/23/22 |
Venetian/Palazzo |
Las Vegas Sands |
Apollo |
casino business |
$2.25B |
Apollo |
(details) See below for the real estate sale.
|
| 2/23/22 |
Venetian/Palazzo, Sands Convention Center |
Las Vegas Sands |
VICI |
real estate |
$4B |
Apollo |
(details) See above for the casino sale. Note: This sale is unique in that the sole owner of the casino business + real estate sold each to a different company, and didn't retain ownership of either one itself. Also, with this sale the seller no longer has any business in Vegas, although the name of the company is literally "Las Vegas Sands".
|
| 12/21 |
Palms |
Station / Red Rock |
San Manuel Band |
casino + real estate |
$650M |
NV Independent, Travel Weekly |
(details) San Manuel Band of Mission Indians becomes the first owner/operator of a Vegas resort
|
| 9/28/21 |
Aria + Vdara |
MGM Resorts |
Blackstone |
real estate |
$3.9B |
News 3 LV, Vital Vegas |
(details) MGM first bought out Infinity World's 50% stake (see below), becoming the sole owner, then sold the real estate to Blackstone.
|
| 9/28/21 |
Aria + Vdara |
Infinity World |
MGM Resorts |
real estate |
$2.1B |
News 3 LV, Vital Vegas |
(details) MGM was already a 50% owner. (see above for related sale).
|
| 6/8/21 |
CityCenter, 2 acres |
MGM Resorts |
Brett Torino + Flag Luxury |
real estate |
$80M |
LVRJ,
Vital
Vegas |
(details) SW corner of LVB & Harmon Ave, next to Crystals. Slated to be four levels of retail, to be called Project 63, and to open in Oct. 2022.
|
| 10/13/20 |
"Bally's" name |
Caesars Ent. |
Twin River |
brand name |
$20M |
PR
Newswire, CDC
Gaming, Casino.org |
(details) Twin River owns casinos across the U.S. but none in Vegas (until 5/22/22). Following the purchase, it changed its name and the names of its casinos to Bally's The company never owned nor operated the Bally's Casino next to Paris, which Caesars plans to rename to "Horseshoe".
|
| 7/20/20 |
Caesars Entertainment + Eldorado Resorts merge |
resort business |
$17B |
Caesars, Yogonet |
(details) The merger creates the world's largest gambling group, with 60 casinos in 16 states. Technically Eldorado bought Caesars, but the merged company will be known as Caesars.
|
||
| 7/20/20 |
23 acres near the Strip |
Caesars Ent. |
VICI |
land |
$103.5M |
Yogonet, BusinessWire |
(details) The land is near the mid-Strip, on the far side of the monorail.
|
| 4/20/20 |
Tropicana |
Penn Natl. |
Gaming & Leisure Properties |
real estate |
$308M |
Gaming
& Leisure |
(details) Gaming & Leisure is a spinoff of Penn.
|
| 12/23/19 |
Circus Circus |
MGM Resorts |
Phil Ruffin |
casino+real estate |
$825M |
News
3 LV |
(details) Ruffin also
owns Treasure Island. He's a close friend of Donald
Trump.
|
| 12/5/19 |
Rio |
Caesars Ent. |
Dreamscape |
real estate |
$516M |
press
release |
(details) Caesars will continue to own & operate the casino business
|
| 8/19 |
Hooters Casino Hotel |
Hooters |
OYO |
casino+real estate |
$135M |
LV
Sun, Hospitality
Net |
(details) OYO is based in India. The closing date was not reported. Highgate will manage the hotel, Paragon will continue to manage the casino.
|
| 4/19 |
Lucky Dragon casino hotel |
Andrew Fonfa |
Ahern |
real estate (casino+hotel already closed) |
$36M |
Casino.org |
(details) Closing date of sale not reported. Hotel to reopen with a new name, but not casino.
|
| 4/5/18 |
SLS (now Sahara) |
Stockbridge |
Meruelo Group |
casino+real estate |
not disclosed |
press
release |
|
| 3/30/18 |
Hard Rock (Paradise/Harmon
location) |
Virgin |
Brookfield Asset Mgmt. |
casino+real estate |
not disclosed |
Gambling
Insider, Vital
Vegas |
(details) To be renamed Virgin. No relation to the Hard Rock casino/hotel that's slated to replace the Mirage
|
| 12/22/17 |
Harrah's |
Caesars |
VICI |
real estate |
$1.1B |
BusinessWire |
(details) Caesars to pay $87M/yr. in rent
|
| 10/23/17 |
Stratosphere, Arizona Charlie's Decator, Arizona Charlie's
Boulder |
Whitehall Street / American Casino & Ent. |
Golden Entertainment |
casinos + real estate |
$850M |
BusinessWire,
Vital
Vegas |
(details) Golden acquires American Casino company, getting all its casinos
|
| 10/6/17 |
Caesars Palace |
Caesars Ent. |
VICI |
real estate |
unknown |
press
release |
(details) Following MGM Resorts' lead, Caesars Ent. followed suit and started splitting the ownership of real estate from the casino business. VICI is a spinoff of Caesars Ent., part of CE's emergence from bankruptcy. VICI starts with a boatload of Caesars propeties, but Caesars Palace is the only one in Vegas for now.
|
| 12/20/16 |
Cannery + Eastside Cannery |
Cannery Resorts |
Boyd Gaming |
casino+real estate |
$230M |
press
release, Casino.org |
(details) Boyd acquires Cannery Resorts, getting all its casinos |
| 10/3/16 |
Palms |
TPG Capital + Leonard Green |
Red Rock / Station |
casino+real estate |
$312.5M |
press
release, LVRJ |
(details) Palms would be resold in 2021, to the San Manuel Tribe of Indians.
|
| 4/25/16 |
Excalibur, Luxor, Mandalay Bay, MGM Grand, NY NY, Park MGM | MGM Resorts |
MGM Growth Properties |
real estate |
$1.1B |
press
release |
(details) This marks
the first instance of a Vegas casino splitting off the
real estate ownership from the casino business.
|
| 11/15 |
Golden Gate (remaining
35%) |
Mark Brandenburg |
Derek & Greg Stevens |
casino+real estate |
not disclosed |
GGB
News |
(details) Stevens already owned 65%, and now gets the last 35%
|
| 8/25/15 |
Tropicana |
Tropicana |
Penn National Gaming |
casino+real estate |
$360M |
Penn
8-K |
(details) Penn National Gaming would later become PENN Entertainment
|
| 8/14/15 |
Las Vegas Club |
Tamares Group |
Derek & Greg Stevens |
real estate |
$40M |
LV
Sun |
(details) The casino closed almost immediately after the sale. The property is to be redeveloped along with neighboring properties into Circa. |
| 2/13/15 |
Riviera |
Riviera |
Las Vegas Convention Center and Visitors Authority |
real estate |
$182.5M |
KNPR |
(details) LVCCVA bough
the soon-to-be defunct Riviera and demolished it, to
expand the convention center, but instead sold the land in
2024. |
| 5/14 |
Cosmopolitan |
Deutsche Bank |
Blackstone |
casino+real estate |
$1.73B |
Forbes |
(details) The German
bank had bought the property in 2008. |
| 3/12/14 |
Legendary casino owner
Jackie Gaughan dies at age 93. (details)
Throughout his career, he
owned or had interests in Flamingo, Boulder Club, Las Vegas
Club, The Western (which he started), Gold Spike, Plaza,
Golden Nugget, Royal Inn, Showboat, and El Cortez. (Las
Vegas Adviser, Wikipedia)
|
||||||
| 6/15/10 |
MGM Mirage
changes its name to MGM Resorts International. |
LV
Sun |
(details) Original MGM
Grand, became MGM Mirage in May 2000 after acquiring
Mirage Resorts.
|
||||
| 3/20/09 |
Treasure Island |
MGM Resorts |
Phil Ruffin |
casino+real estate |
$755- 775M |
Las
Vegas Sun |
(details) Ruffin also
bought Circus Circus in 2019. He's a close friend of
Donald Trump. |
| 3/10/08 |
Binion's |
MTR Gaming |
TLC (Four Queens owner) |
casino+real estate |
$28-32M |
LVRJ |
(details) Harrah's had
bought the property from the Binion family in 2004, which
sold it days later to MTR. |
| 3/20/08 |
Golden Gate |
Mark Brandenburg |
Derek & Greg Stevens |
50% of casino+real estate |
not disclosed |
LVRJ |
(details) The Stevens
bros. acquired a 50% stake, Brandenburg retains a 50%
stake. |
| 2/3/08 |
Gold Spike |
Greg Covin |
Siegel Group (Stephen Siegel + John Tippins) |
casino+real estate |
$21M |
Globe
ST, LVRJ |
(details) Gold Spike
had a casino until 2013. |
| Aug. 2007 |
Gold Spike |
Tamares |
Gregg Covin |
casino+real estate |
$15.6M |
LVRJ |
(details) I couldn't
verify the sale date, but on 2/4/08 LVRJ said the new sale
was the second in six mos., which would put the 2007 sale
at August. |
| March 2007 |
Sahara |
Gordon Gaming / Bennett family |
SBE + Stockbridge | casino+real estate |
$331.8M |
LV
Sun, NBC,
LVRJ |
(details) The new
owners planned an extensive remodel but canceled it when
the recession hit. |
| July-Oct 2006 |
South Coast (now South Point) |
Boyd Gaming |
Michael Gaughan | casino+real estate |
$576.5M |
Mohave
Valley News |
(details) I couldn't
find the sale date. The linked article announcing
the sale agreement was July 25, and paywalled articles say
that Gaughan "assumed operations" in October. |
| 9/27/05 |
Golden Nugget |
Poster Financial Group |
Landry's (Tilman Fertitta) |
casino+real estate |
$295M |
Business
Journal |
(details) Landry's
owns Golden Nugget casinos in various cities. |
| 7/1/05 |
Gold Spike, Las Vegas Club, Plaza, Western |
Barrick Gaming |
Tamares |
casino+real estate |
not disclosed |
LV
Business Press, LV
Sun |
(details) Tamares
acquires Barrick, which includes all its properties. |
| 6/13/05 |
Harrah's Entertainment acquires Caesars
Entertainment. |
$9B |
LV
Sun |
(details) The deal created the largest gaming company in the world at the time, . with 40 properties. Then in 2010, Harrah's changed its name to Caesars Entertainment. |
|||
| 4/25/05 |
MGM Mirage + Mandalay Resort Group merge. |
$7B |
NBC |
(details) One company now owns a majority of the hotel rooms on the strip, across nine casinos. |
|||
| 7/1/04 |
Boyd Gaming + Coast Casinos merge. |
$1.3B |
Travel
Weekly, SEC
8-K |
(details) Coast becomes a subsidiary of Boyd. Coast has Barbary Coast, Gold Coast, Orleans, and Suncoast. Boyd has Stardust, Fremont, California, Main St. Station, Sam's Town, Joker's Wild, the Eldorado in Henderson, half of Borgata in Atlantic City, and casinos in the midwest and South. | |||
| 3/25/04 |
Gold Spike, Las Vegas Club, Plaza, Western |
Jackie Gaughan |
Barrick Gaming |
casino+real estate |
$82M |
Las
Vegas Sun |
(details) Legendary
casino owner Gaughan divests of all his properties except
his beloved El Cortez. The sale also includes 35
acres of land and two downtown motels. |
| July 2003 |
Four Queens |
Elsinore Corp. |
TLC / Terry Caudill |
casino+real estate |
$20.5M |
Las
Vegas Sun |
(details) Gold Spike
had a casino until 2013. |
| 5/30/00 |
MGM Grand Inc. merges with Mirage Resorts,
becoming MGM Mirage |
$4.4B |
AP |
(details) MGM Mirage
would go on to merge with Mandalay Group in 2005. |
|||
| 1999 |
Circus Circus Enterprises changes its name to
Mandalay Resort Group. |
(details) Coincides with its opening of Mandalay Bay. |
|||||
| 1995 |
Circus Circus Enterprises acquires Gold Strike
Resorts. |
$500M |
LA Times |
(details) Hard to believe today, but this deal make Circus Circus the largest casino operator in the U.S., though the acquisition didn't add any casinos in Vegas itself.. |
|||
| 1983 |
Circus Circus |
Circus Circus Enterprises |
Jay Sarno |
real estate |
Forbes |
(details) Real estate purchased from the original owner, Sarno. CCE had formed in 1974 so Sarno could lease the struggling casino to CCE. |
|
| 1981 |
Silver City |
Circus Circus Enterprises |
casino+real estate |
|
|||
| 1979 |
Slot-A-Fun |
Circus Circus Enterprises |
casino+real estate |
|
|||
| 1974 |
Circus Circus |
Circus Circus Enterprises |
Jay Sarno |
casino business |
Forbes |
(details) Sarno had started the casino in 1968. |
|
Peak consolidation
Peak consolidation on the Strip was in 2005, when two companies owned 19 of the 29 Strip properties:
- MGM: 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).
Since then:
- MGM sold Mirage and Circus Circus.
- Caesars sold Rio.
- MGM acquired Cosmopolitan.
So, 19 - 2 + 1 = 17 strip casinos between the two companies, as of July 2024.
Some name changes also happened:
- MGM changed the name of Monte Carlo to Park MGM (but still owns it).
- Bally's became Horseshoe (but still owned by Caesars).
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 acquired MGM Growth Properties, so the landlord for most MGM casinos is an offshoot of Caesars', MGM's main competitor. That also means that VICI owns 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 (current) | |||
| Casino | Casino owner | Real estate owner | |
| Aria | MGM Resorts | Blackstone | |
| Bellagio | MGM Resorts | Blackstone (73%) Realty Income (22%) MGM Resorts (5%) as of Q4 2023 |
|
| Caesars Palace | Caesars Entertainment | VICI | |
| Cosmopolitan | MGM Resorts | Blackstone REIT, Cherng Family Trust, Stonepeak Partners |
|
| Excalibur | MGM Resorts | VICI | |
| Harrah's Las Vegas | Caesars Entertainment | VICI | |
| Luxor | MGM Resorts | VICI | |
| Mandalay Bay | MGM Resorts | VICI | |
| MGM Grand | Hard Rock International | VICI | |
| Mirage | MGM Resorts | VICI | |
| New York New York |
MGM Resorts | VICI | |
| Park MGM | MGM Resorts | VICI | |
| Tropicana | Penn National | Building: Bally's Corp. Land: Gaming & Leisure |
|
| Venetian, Palazzo | Apollo | VICI | |
| Largest real estate owners | |||
| Owner | Holdings summary | Casinos | |
| VICI | 10 casinos (counting Venetian/Palazzo separately) • 40,775 hotel rooms • 1.2M sf casino space | Caesars Palace • Excalibur • Harrah's • Luxor • Mandalay Bay • MGM Grand* • Mirage • NY NY • Palazzo • Park MGM • Venetian | |
| Blackstone | 3 casinos | Aria, Bellagio, Cosmopolitan | |
| Real estate spinoffs (original split only) | |||
| 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 |
April
2021 April 2020 |
| Mandalay Bay, MGM Grand |
MGM Resorts | MGM Growth + Blackstone | Jan. 2020 |
| Rio | Caesars Entertainment | Dreamscape | Dec. 2019 |
| Bellagio | MGM Resorts | Blackstone | Nov. 2019 |
| Harrah's Las Vegas | Caesars Entertainment | VICI | Dec. 2017 |
| Caesars Palace | Caesars Entertainment | VICI | Oct. 2017 |
| Excalibur, Luxor, Mandalay Bay, MGM Grand, NY NY, Park MGM |
MGM Resorts |
MGM Growth Properties |
April
2016 |
The three Bally’s
There are/were three companies named Bally's:
- Bally's Las Vegas Hotel & Casino on the Vegas strip, which became Horseshoe on 12/15/22, and which was owned by Caesars Entertainment before and after.
- Bally's Corporation, which owns lots of casinos (but not the former Bally's Casino on the strip), and which bought the Tropicana in Sept. 2022.
- 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.
Native American ownership
First, let's dispel the myth that most Native Americans are getting rich off tribal casinos: The reality is that most tribes don't operate casinos, and most of the members of the tribes which do operate casinos don't receive any kind of cash payout. With that out of the way, let's look at Native American involvement in Vegas casinos.
| Native American involvement in Vegas | |||
| Casino | Tribe | Role | Started |
| undeveloped land across from Luxor (site
of the 10/1/17 mass shooting) |
Three Affiliated Tribes of the Fort Berthold Reservation |
Three Affiliated bought the land from MGM Resorts,
presumably to build a casino |
Dec. 30, 2022 |
| Mirage |
Seminole Tribe of FL (which owns Hard Rock) |
property + casino owner/operator |
Dec. 26, 2022 |
| Palms | San Manuel Band | property + casino owner/operator | Dec. 2021 |
| Virgin | Mohegan | Virgin owns the real estate, and presumably the hotel operations, but the Mohegan tribe was the owner/operator of the casino (as they confirmed to me, i.e., both owner/operator, not just operating on behalf of a Virgin owner). However, on May 7, 2024, Virgin announced that it will be taking over casino owner/operations from Mohegan. | March 2021 |
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 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 Durango Las Vegas? Durango Las Vegas is owned by Station Casinos, which owns a bunch of other casinos in Vegas and elsewhere.
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 Fontainebleu Las Vegas? Fontainebleau Las Vegas is owned by Fontainebleau Development and Koch Real Estate.
Who owns Harrah's casino in Las Vegas? Harrah's is owned by Caesars Entertainment.
Who owns Horseshoe casino in Las Vegas? Horseshoe is owned by Caesars Entertainment. The name changed from Bally's on Dec. 15, 2022.
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 Hard Rock International (itself owned by the Seminole Tribe of Florida), which bought the Mirage on Dec. 26, 2022.
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 Rio Las Vegas? Rio Las Vegas is owned by Dreamscape.
Who owns Sahara casino? Sahara is owned by Meruelo Group, and is managed by a bunch of jerks.
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 Bally’s Corporation (which is completely unrelated to the Bally's casino on the Strip, or the former Bally's slot machine manufacturer). The name will be changed to Bally’s soon.
Who owns the Venetian casino? Apollo owns the Venetian and Palazzo.
Who owns the Virgin Las Vegas casino? It's called the Mohegan Sun Casino and is run by the Mohegan Tribe, but it's not clear whether they're also the owner. I made inquiries to both Mohegan and the NV Gaming Commission.
Who owns the Wynn casino in Vegas? Wynn and Encore are owned by Wynn Resorts.
My related lists
- Complete list of Vegas casinos
- Vegas casino timeline — when each casino started/stopped
Other sites
- Nick Christenson's used to maintain an ownership list at LV Revealed. He abandoned it years ago, but it was the inspiration for my own list, so I'm continuing to give him props here.
- Who Owns Vegas doesn't seem to have been updated since 2011.
- Most other sites which list casino ownership have simply copied from my own list.