Who Owns Vegas
Las Vegas Hotel Ownership
Las Vegas Hotels: Who Owns What
By Andrew Hudson
Last updated: January 2012. First published: October 2005
Welcome to Who Owns Vegas, a detailed list of who owns the major hotels of Las Vegas.
This site will be improved in 2012 with a better design, news, photos, and a searchable database. Until then, here is the archived version.
If you have any thoughts or comments, please send me an email.
— Andrew Hudson
More times than not, Las Vegas casinos and area businesses rely on Dell IT solutions for all of their computing and technology needs.
Latest News:
7/12/10: The Riviera files for bankruptcy.
5/29/10: Extended Stay (with four hotels in Las Vegas) gets bought out of bankruptcy by a group including Blackstone for $3.9 billion. A pretty cool investment since Blackstone sold the chain in 2007 for $8 billion!
4/23/10: The Rio may be sold by Harrah's, possibly to Starwood Capital or Colony Capital for around $500 million.
4/22/10: The proposed 3,000-room Elvis Las Vegas resort is no more as FX Luxury Las Vegas I LLC (a subsidiary of FX Real Estate) files for bankruptcy. The 18 acres of prime Strip land that was carefully assembled will be auctioned off. I guess Elvis really has left the building.
4/21/10: Steve Wynn says he may move Wynn Resorts’ headquarters to Macau. What happens in Vegas doesn't always stay in Vegas.
4/20/10: I've improved the navigation menu at Who Owns Vegas. Now, from any page, you can reach any other page.
4/20/10: MGM Mirage may change its name to MGM Resorts International. The decision will be made in June.
4/19/20: Station Casinos Inc. agrees to a reorganization plan. Fertitta and Colony would get half of “PropCo” (Red Rock Resort, Sunset Station, Boulder Station and Palace Station) and make a “stalking horse” minimum bid for “OpCo” (Santa Fe Station, Texas Station, Fiesta Henderson, Fiesta Rancho). Boyd Gaming says it is “interested in acquiring Station assets.” No news on the Greenspun-shared properties (Green Valley Ranch and Aliante Station).
4/14/10: Rumor (150 rooms) is announced by Siegel Group. Formerly the St. Tropez, this all-suite hotel opposite the Hard Rock on Harmon will be one of five boutique hotels known as Siegel's Boutique Chic Retreats.
4/7/10: The recently-renamed “Cosmopolitan of Las Vegas” may open in December 2010 with about two-thirds of its 2,995 rooms. Two years late and $2 billion over budget, the foreclosed property now owned by Deutsche Bank is described by the Las Vegas Sun as “the most expensive debacle in the city for a single lender.”
4/2/10: The turnaround arrives? In possibly the first positive economic sign since the global depression, Trump Resorts gets a lifeline with $190 million of long-term financing from German-based Hypo Real Estate Holdings AG.
Hotels Bankrupt Today
(or “Who Doesn't Own Vegas”):
- 7/12/10: The Riviera files for bankruptcy.
- 4/22/10: The Elvis hotel (planned with 3,000 rooms but not built) by FX Real Estate and Entertainment, Inc. declares bankruptcy.
- 11/6/09: Planet Hollywood (2,567 rooms) owner BH/RE LLC defaults. May get bought by Harrah's.
- 7/28/09: Station Casinos, owner of 18 casino properties. A reorganization plan has been filed and the company may emerge at the end of 2010.
- 3/22/09: Terrible's Hotel and Casino (400 rooms), owned by Herbst Gaming. May emerge in 2010.
- 1/17/08: Not even open yet, the Cosmopolitan/Grand Hyatt project (2,995 rooms) was seized from 3700 Associates is now owned by Deutsche Bank AG.
Also bankrupt in Vegas:
- 1/13/10: The Monorail. Filed for Chapter 11 bankruptcy protection.
- 4/16/09: Malls: Fasion Show and The Grand Canal Shoppes at The Venetian, owned by GGP.
- July 2008: Lake Las Vegas. Developer Transcontinental Corp. defaulted on a $540 million loan in January 2008 and the new owner, The Atalon Group, put the property into bankruptcy.
Read more news in the archives.
Compiled for the book A Photo Tour of Las Vegas
Introduction
Want to own a Las Vegas hotel? You'll need company, or at least a company. Since Del Webb acquired the Sahara in 1961, the resort hotels of Las Vegas have been mainly financed, built and bought by corporations. When a new hotel costs billions of dollars (Wynn Las Vegas cost $2.7B in 2005), only groups that can tap equity and stock markets have big enough pockets to build something new. Talk about a big gamble.
Let's see who owns what.
Copyright © 2005–2011 Andrew Hudson for Photo Tour Books, Inc. Written for A Photo Tour of Las Vegas. You may reproduce this article for personal, educational, non-commercial and non-Internet use, such as in a hobbyist newsletter or school project. No Internet publishing is permitted. For commercial use, please email Andrew Hudson for permission.