Who are the landlords of casinos that aren't owned by the operators?

In today's QoD, you listed the individuals and companies that operate all the casinos in the Las Vegas. Some own the properties, but with all the real estate deals going on lately, many don't. Can you please also list who owns the properties? In other words, who are the landlords of casinos that aren't owned by the operating companies?

In the previous Question of the Day, we listed the operators of all the major resort properties, along with more than a few minor ones.

Here are the owners of the underlying real estate. Some, as you can see, are repeats from the the other QoD, since they both own and operate their properties.

Aria: Blackstone Group*

Bellagio: Blackstone Group*

Casino Royale: Margaret Elardi

Caesars Palace: Vici Properties**

Circus Circus: Phil Ruffin

Cosmopolitan of Las Vegas: Blackstone Group*

The Cromwell: Caesars Entertainment

Encore: Wynn Resorts

Excalibur: Vici Properties*

Flamingo Las Vegas: Caesars Entertainment

Harrah’s Las Vegas: Vici Properties**

Horseshoe Las Vegas: Caesars Entertainment

The Linq: Caesars Entertainment

Luxor: Vici Properties*

M Resort: Gaming & Leisure Properties (operated by Penn Entertainment)

Mandalay Bay: Vici Properties*

MGM Grand: Vici Properties*

The Mirage: Vici Properties (operated by Hard Rock International)

New York-New York: Vici Properties*

Oyo Las Vegas: Highgate/Oyo Hotels & Homes

Palazzo: Vici Properties#

Paris-Las Vegas: Caesars Entertainment

Park MGM: Vici Properties*

Planet Hollywood: Caesars Entertainment

Resorts World Las Vegas: Genting Group

Sahara: Meruelo Group

South Point: Michael Gaughan

The Strat: Golden Entertainment

Treasure Island: Phil Ruffin

Tropicana Las Vegas: Gaming & Leisure Properties (operated by Bally’s)

The Venetian: Vici Properties#

Westgate Las Vegas: Westgate Resorts

Westin Las Vegas: Highgate/Cerberus Capital Management

Wynn Las Vegas: Wynn Resorts

* operated by MGM Resorts International

** operated by Caesars Entertainment

# operated by Apollo Management

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Comments

Don the Dentist May-04-2023

Rampart??

Did not see them on the list.

Ray May-04-2023

How does it affect us?

What does it matter who owns the property? When I eat at a restaurant I never worry about whether the management owns or rents the space. Same thing with a sporting event. Or almost anything else. The real question is "how does ownership of the property affect me, the gambler, the visitor, the patron? Do those that own offer better deals, more comps, better paybacks, better service? Or is it the other way around?

Kevin Lewis May-04-2023

How about a list of...

...the first 100 persons in line for the British monarchy? With hair color, of course.

O2bnVegas May-04-2023

it mattered

Well, Ray, I guess it matters to somebody, the one who submitted the question.  I appreciate the list, for no special reason.  Maybe the person who submitted the question will jump in and elaborate about why it matters to them.

Kevin, ya gotta know that #27 in line is secretely hoping something will happen to move him/her up higher.  Better housing?  More invites to royal events?  LOL

Candy

[email protected] May-04-2023

Who Cares?

I'm with "Ray" here and why any typical casino goer WOULD care amazes me UNLESS they are part of the worthless subset of folks that like to "boycott" certain people or groups they don't agree with.....likely politically. And THOSE people are the ones that I would "boycott" no matter which "side" they are addicted to....

jay May-04-2023

Interesting

I find it interesting that Vici Properties owns casinos run by both MGM and Caesars. IE NYNY is a MGMer and the Linq is Caesars. I am wondering if they could evict a tenant - Ie bounce Caesar out of Caesars Palace and hand over the leasehold to someone willing to pay better freight. If so I could see an investor activist like Bill Ackman leveraging control of Vici and then parlaying that into a short play against Caesars. 

When I have been reading about the various REIT's (realestate trusts) I have always thought they were shells setup by the casinos themselves to redirect monies out of the core business coffers to line other pockets. Never thought some of these were pure plays of this magnatude.

Question of the Day - 04 May 2023

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