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Who Owns Vegas
Las Vegas Hotels by Owner:
Who Owns What On The Las Vegas Strip
Last updated: Nov 11, 2008.
First published: October 2005.
By Andrew Hudson
For hotels listed by name, click here.
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11/17/08: Las Vegas Sands may go bankrupt.
10/30/08: MGM Mirage and Kerzner International are indefinitely delaying their unnamed 4,000-room project. Starwood Hotels will develop and own a condo tower on Las Vegas Sands' Venetian property called The St. Regis Residences at the Venetian Palazzo, Las Vegas.
Read more at News.
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.
Of the 131,503 hotel in Las Vegas (LVCVB 2006), MGM MIRAGE controls about one quarter and Harrah's controls about one eighth. About 40,000 rooms are under construction, bringing the room count to 171,276 by 2010.
Let's see who owns what.
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Copyright 2005-2008 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.
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