Who owns the bellagio casino in las vegas
Who owns the bellagio casino in las vegas
The Bellagio Casino in Las Vegas is owned by MGM Resorts International, a multinational hospitality company. MGM Resorts operates casinos, hotels, and resorts in Las Vegas and in other cities across the United States and internationally.
MGM Resorts acquired the Bellagio in 2000, when it purchased Mirage Resorts, which had developed the casino and resort complex in the 1990s. Since then, MGM Resorts has invested heavily in the Bellagio, renovating and expanding the property to maintain its position as one of the most iconic and luxurious resorts in Las Vegas.
Company History and Acquisition
MGM Resorts International, led by CEO Bill Hornbuckle, became the sole owner of Bellagio in 2016 after it acquired stakes previously owned by Blackstone Group and Deutsche Bank for $4.25 billion with the financing of its real estate investment trust (REIT), MGM Growth Properties (MGP). The transaction solidified MGM's already dominant position on the Las Vegas strip.
Current Ownership Structure
The Bellagio Hotel and Casino is currently owned by MGM Resorts International, a publicly traded company on the New York Stock Exchange (NYSE).
Ownership Changes and Future Plans
In 2021, Vici Properties, a realty investment trust, acquired the Bellagio's real estate for $4.25 billion. Blackstone, a private equity firm, continues to own the casino operations.
MGM Resorts maintains full control of the Bellagio brand and all related trademarks. Looking ahead, the ownership group plans to invest in upgrades and expansions, including a potential renovation of the gaming floor and guest rooms.