Who Owns Vegas
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By Andrew Hudson
Last updated:
First published: October 2005
M Resorts
Hotels: 1; Rooms: 2,000
Private | Controlled by Tony Marnell II, founder, Chairman and CEO.
Building The M Resort (opening 2009 with 390 rooms, more rooms in later phases) in south Las Vegas. The M Resort is a $1.8 billion casino, hotel, and commercial development on 79 acres in Henderson, by I-15 and St. Rose Parkway. It is close to Southern Highlands Casino-Resort by Olympia Gaming.
M Resorts was founded in 2005 by Anthony A. Marnell III (son of Tony Marnell II of Marnell Corrao) and Raymond J. Shapiro. In April 2007, MGM Mirage invested $160 million for a potential 50% equity interest in The M Resort.
| M Resorts Hotels in Las Vegas | ||
| Hotel | Opened | Rooms |
| M Resort | 2009 | 2,000 |
| Total | 2,000 | |
Madrone Capital Partners
In 2007, bought a minority stake in Global Hyatt Corp. Based in Menlo Park, California, Madrone is affiliated with the chairman of Wal-Mart Stores Inc., Rob Walton. A general partner of Madrone, Greg Penner, is on Hyatt's board.
Majestic Realty Company
Hotels: 1; Rooms: 660
Private | Hoover's profile | Chaiman and CEO: Ed Roski, Jr.
Edward Roski, Jr. owns the Silverton (300 rooms expanding to 660 rooms by 2009). The Silverton opened in 1994 as Boomtown with Majestic Realty as landlord. Boomtown stumbled financially and Majestic took control in 1997, and changed the name to Silverton.
Roski heads Majestic Realty, a family-owned firm based in California founded by Roski's father in 1948. Roski is part owner of the Los Angeles Lakers, Los Angeles Kings, and the Staples Center. Majestic Realty builds and manages industrial parks in southern California.
Majestic Resorts, Inc.
Planned but cancelled the Conrad Las Vegas (912 rooms. 216 hotel rooms on floors 11-20, 696 condo-hotel rooms on floors 21-49, 2009). The top ten floors were to be Waldorf=Astoria Residences. The 5.43-acre site was sold in October 2007 for $180 million to Las Vegas North Strip LLC and then to Triple Five Nevada Development Corp.
CEO Lorenzo Doumani was born in Las Vegas. His father, Edward Doumani, built the Tropicana, El Morocco, and La Concha, and was Steve Wynn's longtime partner in the Golden Nugget.
Majestic Star Casino, LLC
Private | Don Barden | majesticstar.com
Filed for bankruptcy in November 2009.
Wholly-owned by Detroit businessman Don Barden, who is Chairman and CEO of the company. Based in Gary, Indiana, the company was formed in 1993. Manages Fitzgerald's (1987, 624 rooms plus 14 suites) which is owned by Barden's Barden Development, Inc.
The Maloof Companies
Hotels: 1; Rooms: 802
Private | palms.com
Profiles from Wikipedia and NBA
Owns The Palms, operated by George Maloof. The Palms (opened in 2001 with 430 rooms, second tower added in 2006) is being expanded with a third tower (Palms Place) containing 599 condo-hotel rooms (2008).
The Maloof family consists of brothers Gavin, George jr., Joe and Phil; sister Adrienne Maloof-Nassif; and mother Colleen. The brothers' grandfather, Joe Maloof, emigrated from Lebanon to New Mexico and, in 1892, opened a small general store in northern New Mexico. By the 1930s, the Maloof family had secured the rights to distribute Coors beer to a region of New Mexico. Following a major heart attack in 1944, Joe's son George took over the company and expanded distribution to the whole state. Owned a trucking company, hotels, a bank and the NBA Houston Rockets. When George died in 1980, the businesses went to his wife, Colleen, and five children — four sons and a daughter.
In 1994, the family bought property in North Las Vegas for $10 million and built the Fiesta Casino Hotel. Six years later, it was sold for $185 million. In 2001, The Palms opened with 430 or 447 rooms in a 42-story tower. A second tower was added in 2006 and a third tower for condos will open in 2008.
The family still owns Joe G. Maloof & Co. (Hoover's profile), which is now New Mexico's largest wholesale beer and liquor distributor. The Maloof family also owns: Maloof Sports and Entertainment, owners of the Sacramento Kings NBA franchise, the Sacramento Monarchs WNBA franchise, and part of Sacramento's ARCO Arena; Maloof Music, a record label with Interscope Records (Interscope/Geffen/A&M Records) (2004); Maloof Productions, a movie and TV production company. The Maloof Companies is also the largest single shareholder in Wells Fargo Bank.
Colleen Maloof serves as Chair of the Board of Directors of the Maloof Companies. Joe Maloof is president of the corporation and oversees the banking and sports and entertainment divisions, while Gavin Maloof is vice chairman, also leading the sports and entertainment daily operation. George Maloof, Jr., is an executive vice president and heads the hotel division, and Adrienne Maloof is the secretary/treasurer of the company. Phil Maloof is an executive vice president and a former New Mexico state senator.
Mandarin Oriental International, Ltd
Owned by Jardine Matheson Holdings Limited, will operate (but not own) the Mandarin Oriental in MGM Mirage's Project CityCenter.
Marathon Asset Management, LLC
Partnering with 3700 Associates and Hyatt on the Grand Hyatt Las Vegas in The Cosmopolitan Resort and Casino (1,000 hotel rooms plus 1,700 condo-hotel units, opening 2008). In February 2008, bought in to the project when the developer, 3700 Associates, defaulted on a construction loan.
Founded in 1998, Marathon Asset Management LLC is a global alternative investment and asset management company with $11 billion in capital under management.
| Marathon Hotels in Las Vegas | ||
| Hotel | Opened | Rooms |
| Grand Hyatt Las Vegas | 2008? | 1,000 |
| Total | 1,000 | |
Marcus Hotels and Resorts
Hotels: 1
Operates the Platinum (255 condo-hotel rooms, 2006, owned by Diversified Real Estate Concepts) and other hotels. A division of the Marcus Corporation.
The Marcus Corporation
Hotels: 1; Rooms: 255 condo-hotel
NYSE: MCS | marcuscorp.com | Hoover's profile
Founded in 1935 as a movie theatre company, the Marcus Corporation is a publicly-traded company based in Milwaukee, Wisconsin. Through their division Marcus Hotels and Resorts, operates several upscale hotels including the Platinum Hotel and Spa (2006, 255 condo-hotel rooms, owned by Diversified Real Estate Concepts). The Platinum is a condo-hotel on Flamingo Road, just east of Bally's, and part of the Preferred Hotels collection. Marcus is 75% controlled by CEO Stephen Marcus and his sister Diane Marcus Gershowitz.
| Marcus Hotels in Las Vegas | ||
| Hotel | Opened | Rooms |
| Platinum | 2006 | 255 |
| Total | 255 | |
Marnell Corrao Associates, Inc.
Private | marnellcorrao.com
Controlled by Tony Marnell II, founder, Chairman and CEO.
A prolific construction company based in Las Vegas and owned by the Marnell family. In 2005, formed a separate company — M Resorts — to create The M Resort (opening 2009 with 400 rooms) in south Las Vegas. The M Resort will be designed by Marnell Architecture and built by Marnell Corrao Associates.
Marnell Corrao Associates is owned by the Marnell family. The company has a long history of construction and development in Las Vegas. Marnell built The Rio (1990, owned 1990-1999), Bellagio (1998), and Wynn Las Vegas (2005). Other construction projects include Caesars Palace, The Mirage, Forum Shops, Stardust, and Treasure Island. In 1986, Marnell formed Rio Hotel & Casino, Inc. (former NYSE: RHC) and Tony Marnell served as Chairman of the Board and Chief Executive Officer of the company and its wholly owned subsidiary Rio Suite Hotel & Casino until its acquisition by Harrah's Entertainment, Inc. on January 1, 1999.
Marriott International, Inc.
Hotels: 14; Rooms: 3,661
NYSE: MAR | marriott.com | Hoovers profile
Based in Bethesda, MD., Marriott is the largest hotelier in the world (by revenue) with around 2,600 operated or franchised properties in more than 65 countries. Marriott's brands include Renaissance and Ritz-Carlton. CEO J. W. Marriott, Jr. and his family own about 15% of the company. Marriott has a corporate policy against direct ownership of gambling businesses as the Marriott family members belong to the Mormon Church, which opposes gambling.
Marriott operates the Renaissance Las Vegas Hotel (548 rooms + 30 suites, opened 2004, by the convention center) which is owned by the Jackson-Shaw Company of Dallas. A division of Marriott, Marriott Vacation Club International (Hoover's profile, based in Orlando, FL), operates Marriott's Grand Chateau, a Marriott Vacation Club Resort (1,534 suites, opened 2005), which is jointly owned by Marriott and individuals who have purchased time-shares.
Through their subsidiary The Ritz-Carlton Hotel Company, LLC (Hoover's profile, based in Chevy Chase, MD), Marriott operates the Ritz-Carlton Lake Las Vegas (owned by Transcontinental Properties, Inc. and Cook Inlet Region, Inc.).
A Ritz-Carlton hotel (400 rooms, 2009) may be part of MGM MIRAGE's Project CityCenter.
2007: Owns the land under the Marriott Suites, Marriott Residence Inn and Marriott Courtyard (and The Beach nightclub). May replace all three with a Marriott Marquis Las Vegas.
| Marriott Hotels in Las Vegas | ||
| Hotel | Rooms | Owner |
| Courtyard Henderson | 149 | |
| Courtyard LV Conv Ctr | 149 | |
| Courtyard LV South | 146 | |
| Courtyard LV Summerlin | 148 | |
| Fairfield Inn LV Airport | 129 | |
| Fairfield Inn LV South | 142 | |
| JW Marriott LV Resort (2001) | 459 | Larco |
| Marriott Suites LV | 278 | |
| Renaissance LV Hotel (2004) | 578 | Jackson-Shaw Company |
| Residence Inn Henderson | 126 | |
| Residence Inn LV Conv Ctr | 192 | |
| Residence Inn LV Hughes Ctr | 256 | |
| Residence Inn LV South | 160 | |
| Ritz-Carlton Lake Las Vegas (2003) | 349 |
Transcontinental Properties, Inc. and Cook Inlet Region, Inc |
| Ritz-Carlton Las Vegas (2009) | 400 | MGM Mirage |
| Total: | 5,195 | |
| Marriott Condo-Hotels in Las Vegas | |
| Hotel | Rooms |
| Marriott's Grand Chateau (2005) | 1,534 |
| Total: | 1,534 |
Marriott Vacation Club International
A division of Marriott International, Inc. that operates the time-share hotels.
Metroflag Management LLC
Led by Las Vegas developer Brett Torino. May develop two hotel towers on the Strip opposite CityCenter, on the southeast corner at Harmon Avenue. One hotel may be called St. Regis Retreats (licensed from Starwood). Has assembled about 18 acres of Strip property from the Harley-Davidson Cafe to Smith & Wollensky.
Subsidiaries include:
- Metroflag BP LLC: Travelodge and 5.5 acre lease ($6m in 2001). Also the Harley-Davidson Cafe on 1 acre ($14.9m in 2006).
- Metroflag Polo LLC: Hawaiian Marketplace developed by Metroflag, opened 2004 on 2.5 acres of the Strip in front of the Polo Towers. The area was previously called Polo Plaza.
- Metroflag SW LLC: Smith & Wollensky on 1 acre.
Formed in 2005, Metroflag is a joint venture between: Brett Torino's Metroplex LLC (Torino Companies); Leviev Voymel Green; and Flag Luxury Properties, LLC, a New York-based luxury commercial developer. President is Scott Butera who came from Trump Hotels. Participated in a bid for the Riviera.
MGM MIRAGE, Inc.
See MGM Mirage. MGM controls so much of Las Vegas that I had to give devote a separate page!
Millennium Gaming, Inc.
A subsidiary of Millennium Management Group that owned 2/3 of the Cannery Casino and Hotel (opened 2003, 200 rooms) in North Las Vegas via Cannery Casino Resorts.
Millennium Management Group
Previously owned part of Cannery Resorts but that company was purchased in 2007 by Crown LTD.
Equally owned by former Circus Circus Enterprises executives Bill (William) Paulos and Bill (William) Wortman (48%), and former state gaming regulator Guy Hillyer (5%).
From 2002-2007, owned and operated the Rampart Casino, which is adjacent to the JW Marriott Las Vegas Resort and Spa (536 rooms, owned by Larco). Also owned Millennium Gaming, Inc. which owned 58% of Cannery Casino Resorts. Cannery Casino Resorts owned and operated the Cannery Casino and Hotel in North Las Vegas and was building a second version entitled Eastside Cannery on Boulder Highway. The company was sold in 2007 to Crown LTD.
Bill Wortman started at Caesars World, became an executive at Circus Circus Enterprises, and was chief operating officer at Luxor when it opened in 1993. Wortman bought the Nevada Palace casino on Boulder Highway in 1984.
Minority owners of Millennium may include Bob Mendenhall, a paving contractor who owned the land for the Cannery, and/or former state gaming regulator Guy Hillyer (5%).
Morgans Hotel Group Co.
Hotels: 3; Rooms: 2,205
NASDAQ: MHGC | morganshotelgroup.com | Hoover's profile
Chief Executive: Ed Scheetz
12/28/09: The Hard Rock opens the new, all-suite HRH Tower. The 374 rooms include 359 “standard” suites, eight spa villas that open directly onto the pool area, and seven penthouse suites on the 16th floor.
Owns 14.1% of, and manages, The Hard Rock Hotel. The remaining 85.9% is owned by DLJ Merchant Bank Partners, an affiliate of Credit Suisse.
Founded in 1983 by Ian Schrager (of Studio 54 fame), Morgans is a New York-based designer of luxury boutique hotels. Properties include the Hudson, Morgans, and Royalton in New York, and Delano in Miami. Morgans went public in 2006. The President and CEO of MHG is W. Edward Scheetz.
In 2006, Morgans announced a 50-50 partnership with Boyd Gaming to develop, as part of the Echelon Place complex, two luxury boutique hotels — Delano (2010, 550 rooms) and Mondrian (2010, 860 rooms).
In May 2006, Morgans agreed to buy the Hard Rock Las Vegas Hotel (647 rooms, opened 1995) for $770 million. Following a $750-million expansion announced in 2007, Morgans may have defaulted on a loan from DLJ Merchant Banking Partners (an affiliate of Credit Suisse) thus ceding majority ownership.
The Hard Rock Hotel was previously built and owned by Peter Morton, co-founder of the Hard Rock chain in 1971. He sold the cafes in 1996 to Rank Group Plc (based in London, RNK, rank.com, Hoover's profile). In 1995, Morton opened the Hard Rock Hotel, licensing the name from Rank, and sold it to Morgans in 2006.
The Hard Rock has 1,500 rooms. The original tower has 648 guestrooms, 64 suites, and one penthouse. A $750-million expansion project added the 490-room Paradise Tower in July 2009 and the 359-suite HRH Tower in December 2009. The property owns 40 acres but intends to sell 15 unused acres.
| Morgans Hotel Group Hotels in Las Vegas | |||
| Hotel | Opened | Rooms | Notes |
| Delano | 2010 | 550 | 50% with Boyd |
| Hard Rock Las Vegas Hotel | 1995 | 1,500 | |
| Mondrian | 2010 | 860 | 50% with Boyd |
| Total | 2,205 | ||
Moulin Rouge Development Corp.
In February 2008, proposed a joint venture with Republic Urban Properties LLC to redevelop downtown's Moulin Rouge with 700 hotel rooms.
Located in downtown Las Vegas, the Moulin Rouge opened in 1955 as the first racially integrated casino in Las Vegas, but closed after five months. In 2003, an arsonist's fire destroyed most of the building but the facade and neon sign survived. MRDC bought the Moulin Rouge Hotel and Casino in January 2004 for $12.1 million. Ground-breaking is planned for 2009.
Founded in 2002, MRDC is a Las Vegas-based real estate development company. CEO/president Dale Scott.
MTR Gaming Group, Inc.
Controlled by CEO Edson R. (Ted) Arneault — chairman, president and CEO
NASDAQ: MNTG | mtrgaming.com | Hoovers profile
Once owned Binion's (360 rooms, opened 1951). Sold to Harrah's in 2007.
Through a subsidiary (Speakeasy Gaming of Fremont, Inc.) owns the Ramada Inn and Speedway Casino. Chairman and CEO Ted Arneault owns about 13% of MTR. MTR is based in Chester, West Virginia.
| MTR Gaming Hotels in Las Vegas | ||
| Hotel | Opened | Rooms |
| Ramada Inn Speedway | 95 | |
| Total | 95 | |
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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.