Who Owns Vegas


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Who Owns Vegas
Photo © Andrew Hudson
Welcome to fabulous Las Vegas
Last updated:
First published: October 2005

Fairfield Resorts, Inc.

This division of Wyndham Worldwide manages time-share resorts.

Falcon Group

Developing Pinnacle (1,104 condo-hotel rooms, 2009). A strategic partnership consisting of the Falconi Group, Praxis Resources and Elysium Enterprises. Contractor is Marnell Corrao, manager is Interstate Hotels.

FCP Acquisition Sub

An interim takeover vehicle used by Fertitta Colony Partners LLC in 2007 to privatize Station Casinos for about $5.4 billion.

Fertitta Colony Partners LLC

The parent company of Station Casinos, Inc.

In Nov 2007, took control Station Casinos, Inc. for about $5.4 billion. This takeover vehicle is a partnership of the founders and managers of Station — brothers Frank J. Fertitta III (CEO) and Lorenzo J. Fertitta (President) who owned about 25% of Station — and Colony Capital Acquisitions, part of Tom Barrack's Colony Capital which owns the Las Vegas Hilton. Colony Capital owns 75.8 percent, the Fertittas 24.2 percent.

Owners are:

  • affiliates of Frank J. Fertitta III, Chairman and Chief Executive Officer of Station
  • affiliates of Fertitta, Vice Chairman and President of Station
  • affiliates of Blake L. Sartini and Delise F. Sartini
  • affiliates of Colony Capital, LLC.

Frank and Lorenzo are cousins of Tillman J. Fertitta who owns Landry's Restaurants Inc.

Fertitta Colony Partners (Station Casinos) Hotels in Las Vegas at Takeover (2007)
Aliante Station 2008 202
Boulder/Nellis Project 2012? ?
Boulder/Tropicana Project 2012? ?
Boulder Station 1994 300
Durango Station ? 400+600
Fiesta Henderson 1998 224
Fiesta Rancho 1994 100
Green Valley Ranch 2001 497
Palace Station 1991 (ren 1996) 1,028
Red Rock Station 2006 414
Santa Fe Station 1997 200
Summerlin South Project 2010 ?
Sunset Station 1997 457
Texas Station 1995 200
Wild Wild West Redevelopment 2008 1,000
Total 4,714

Fertitta Gaming LLC.

Owned by brothers Frank and Lorenzo Fertitta. Has an ownership in Station Casinos.

Fertitta Holdings Inc.

Owns Landry's Restaurants Inc. which owns the Golden Nugget (opened in 1946, now with 1,907 rooms + 400 being added) in downtown Las Vegas. Fertitta Holdings is owned (?) by Tilman J. Fertitta.

Tillman J. Fertitta lives in Houston, Texas and is a cousin of Frank and Lorenzo Fertitta, owners of Station Casinos, Inc.

Fertitta Holdings Hotels in Las Vegas
Golden Nugget 1946 2,307
Total 2,307

Fifield Companies


Partner in Sahara Investments, LLC which is building a 1,300-room hotel in Allure Las Vegas. Fifield is based in Chicago, Illinois. Chairman is Steve Fifield; Senior Vice Presidentis Alan Schachtman.

President and founder, Steven Fifield, established Fifield Companies in 1977 as a surburban office developer in Chicago.

Fifeld Hotels in Las Vegas
Allure Las Vegas 2010? 1,300
Total 1,300

Financial Capital Investment Company

Hotels: 1; Rooms: 1,500

A private company operated by Richard Alter and Eddy Chao.

In 2004, Los Angeles developer Richard Alter bought Alexis Park Resort (opened in 1984, 500 rooms).

Next to the Alexis, he has proposed a second, as yet unnamed 1,000-room resort. However, that project has not moved for several years.

Richard Alter's Hotels in Las Vegas
Alexis Park Resort 1984 500
Alexis 2 (Unnamed resort) ? 1,000
Total 1,500

Flag Luxury Properties, LLC.

Private. Paul Kanavos (chairman) and Robert Sillerman

A partner in MetroFlag (which built the Hawaiian Marketplace mall with Brett Torino) and RivAcquisitions (which is bidding to buy the Riviera).

Flag is a New York-based developer of Florida Ritz-Carltons in South Beach and Jupiter. Paul Kanavos (chairman) and Robert Sillerman are the managing members.

In June 2007, Flag sold its 50% ownership of FX Luxury Realty LLC to Robert Sillerman's CKX.

Florida Hooters, LLC

A partner in 155 East Tropicana LLC which owns Hooter's. Florida Hooters includes the founders of Hooters of America, Inc. plus two local Hooters franchisees. The other parter in 155 is EW Commons LLC.

Andrew Fonfa

Through his investment company ABF, Inc, Fonfa is a partner in Sahara Investments, LLC which is building a 1,300-room hotel in Allure Las Vegas. Fonfa may have bought the 5-acre land in 1985.

Fontainebleau Las Vegas Holdings LLC

(Now defunct)

On 1/27/10, the Fontainebleau Las Vegas was bought out of bankruptcy for $156m by Carl Icahn's Icahn Nevada Gaming Acquisition LLC.

Filed for bankruptcy on 6/10/09. Two affiliates — Fontainebleau Las Vegas Holdings and Fontainebleau Las Vegas Capital Corp. — also filed for bankrupcty the next day. Fontainebleau Miami Beach, a separate company, was not included in or affected by the filing.

Started building the Fontainebleau-Las Vegas, a 3,889-room hotel including 2,719 standard rooms, 152 suites and 1,018 luxury condominium-hotel units. The 24.5-acre location was on the site of the former El Rancho Hotel and Algiers Hotel.

This Las Vegas-based resort and casino developer was founded in 2005 is a partnership between (majority owner) Florida-based condominium developer Turnberry Associates (majority owner, Jeffrey Soffer is CEO); former Mandalay Resort Group executive Glenn Schaeffer; and (with 19.6% ownership) James Packer's Crown LTD, one of Australia's largest gaming and entertainment corporations. However, Glenn Schaeffer left in May 2009.

Forest City

In 2009, this developer proposed a 1,000-room hotel in downtown.

Forest City Commercial Management

Manages The Venetian's Grand Canal Shoppes.

Four Queens, Inc.

See Summergate.

Fortress Investment Group LLC

Hotels: 0; Rooms: 0

NYSE: FIG | fortressinv.com"

Acquired Intrawest Corporation which developed the MonteLago Village condominium-hotel project at Lake Las Vegas. MonteLago Village is operated through Playground Destination Properties, Inc..

MonteLago includes:

Luna di Lusso condo-hotel
Viera condo-hotel

Fortress is a New York-based global investment and asset management firm. Fortress went public in 2007.

In 2006, Fortress acquired Intrawest Corporation for $2.8 billion. Based in Vancouver, Canada, Intrawest (NYSE: IDR and TSX: ITW) was a destination resort and adventure travel company. Joe Houssian founded the company in 1976 and teamed with Hugh Smythe to buy Blackcomb Mountain resort in 1986. The company went public in 1990.

Four Seasons Hotels, Inc.

Hotels: 1; Rooms: 424

Controlled by Isadore Sharp

NASDAQ: FS | fourseasons.com | Hoovers profile

Operates (but does not own) the Four Seasons Las Vegas. The Four Seasons is part of Mandalay Bay and is owned by MGM MIRAGE.

Based in Toronto, Canada, Four Seasons is an operator of hotels. Founder, CEO, and chairman Isadore Sharp and his family have about 2/3 voting control; Saudi Prince Alwaleed Bin Talal has a 1/4 equity stake.

FX Luxury Realty LLC, or FX Luxury Las Vegas I LLC

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 and Entertainment Inc.) 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.

Subsidiary of FXRE. Bought remaining 50% from Flag Luxury Properties, LLC in June 2007.

Investors include:

  • Robert F.X. Sillerman, owner of the American Idol TV show
  • Paul Kanavos, president of FX Real Estate and Entertainment
  • Brett Torino, local real estate investor

FX Real Estate and Entertainment Inc. (FXRE)

Nasdaq: FXRE

Chairman and CEO: Robert F.X. Sillerman. COO: Barry Shier.

4/22/10: The proposed 3,000-room Elvis Las Vegas resort is no more as FX's subsidiary FX Luxury Las Vegas I LLC 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.

as FX's

Defaulted on a loan from Credit Suisse in Dec 2008 and may be forced to sell the 18-acre property.

Proposing "The Elvis Las Vegas," a 3,000-room resort on the Strip themed for Elvis Presley.

FXRE would own and operate a 2,269-room Elvis-inspired hotel. A joint-venture partner would operate a separate hotel-condominium with 778 hotel rooms and 147 condos. There are many hurdles to overcome, including complex existing leases and raising enough equity. However, all going well, the project would start in 2009 and be completed in 2012.

The 17.72-acre site is known as the Park Central Property. The site is opposite CityCenter by Harmon Avenue and currently hosts the Harley-Davidson Cafe and Smith & Wollensky restaurant. The site cost around $221 million and was assembled with six separate purchases between 1998 and 2005. FX gained full control in 2007 after buying out the remaining half of FX Luxury Realty LLC from Flag Luxury Properties LLC for $100 million.

FXRE was formed in June 2007 as a separately traded spin-off of CKX, Inc. Based in New York. COO Barry Shier spend 15 years with Mirage Resorts Inc. and was previously Chairman and CEO of the Golden Nugget Las Vegas. A principal shareholder is The Huff Alternative Fund, L.P. FXRE owns 1,410,363 shares of common stock of Riviera Holdings Corporation.

Through subsidiary FX Luxury Realty LLC, FXRE has license agreements with Elvis Presley Enterprises, Inc., an 85%-owned subsidiary of sister company CKX, Inc. (Nasdaq: CKXE), and Muhammad Ali Enterprises LLC, an 80%-owned subsidiary of CKX.

Robert (Bob) F.X. Sillerman is a former radio and concert mogul. In the 1990s, Sillerman started SFX Entertainment, which became the biggest US concert, theatre and sports promoter before it was sold in 2000 to Clear Channel for $4bn. He formed CKX in 2005 when another company he owned, Sports Enterprises, bought Simon Fuller's 19 Entertainment.

Robert Sillerman companies:

  • SFX Broadcasting, Inc. (1992-1998)
  • SFX Entertainment, Inc. (1997-2000) sold to Clear Channel Communications for $4.4 billion.
  • MJX Asset Management (2003-)
  • FXM Asset Management LLC
  • FXM, Inc. (2000-2005) a private investment firm
  • CKX, Inc. (2005-)
  • FXRE (FX Real Estate and Entertainment, Inc. (2007-)

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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.