Who Owns Vegas


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

Daily Management, Inc.


See The Berkley Group, Inc.

Formed in 1981 to provide professional management of day-to-day operations at resorts developed and/or owned by The Berkley Group, Inc. such as the Grandview at Las Vegas (384 rooms, opened 2004).

Dennis Publishing Inc.

Privately owned by Felix Dennis | theden.co.uk and dennispublishing.com | Hoover's profile

No longer involved with Las Vegas. Was going to license the name for the Maxim Hotel and Casino, based on the magazine "Maxim". But in 2007, the plan was abandoned and the land was sold by owner Concord Wilshire Partners to MGM Mirage.

June 2007: Agreed to be sold to Quadrangle Group, a private equity company based in New York.

Founded in 1974 and based in London, UK, Dennis Publishing is one of the world's leading independent magazine publishers. U.S. magazines include Maxim, Stuff, Blender, and The Week.

There was previously a Maxim hotel-casino in Las Vegas. The hotel was not affiliated with the magazine and is now known as the Westin Casuarina, owned by Columbia Sussex.

Desert Rock Enterprises LLC

Owned by brothers Derek and Greg Stevens. In March 2007, Desert Rock bought a 50% stake in the Golden Gate (106 rooms, opened 1906), Las Vegas' oldest hotel-casino. Bought from, and now co-owns the hotel with, the Brandenburg family.

Desert Rock also owns 9% of Riviera Holdings, owners of the Riviera hotel.

D.E. Shaw and Co., L.P..


In November 2006, with Ian Bruce Eichner, made a $262 million takeover offer for the Riviera. The D.E. Shaw group already owns about 10% of Riviera Holdings Corp.

A global investment and technology development firm, the D. E. Shaw group was founded in 1988 by David E. Shaw, chairman and CEO. Dr. Shaw received his Ph.D. from Stanford University in 1980.

Deutsche Bank AG

This German bank is the unintended, and probably reluctant, owner of a swath of Las Vegas' foreclosed properties, including:

  • Cosmopolitan of Las Vegas

    may open in December 2010 with about two-thirds of its 2,995 rooms. Originally projected to cost $1.9 billion, it is now $2 billion over budget and two years behind schedule. According to the Las Vegas Sun, this is "the most expensive debacle in the city for a single lender." Deutsche Bank acquired the project for $1 billion when it foreclosed on developer Ian Bruce Eichner and his company 3700 Associates LLC. in 2009. There have been rumors that Hilton Hotels Corp. may operate the hotel under the Conrad and Hilton brands.
  • Ritz-Carlton Lake Las Vegas (348 rooms, 2003-2010). This beautiful Tuscan-styled hotel has been on the rocks since January 2008 when the Lake's developer, Transcontinental Corp. defaulted on a $540 million loan. The new owner, The Atalon Group, put the property into bankruptcy in July 2008 and Deutsche Bank acquired the hotel in 2009 (via Village Hospitality LLC) but "could no longer fund the hotel."
  • A minority interest in bankrupt Station Casinos
  • Possibly the unfinished Fontainebleau, although Carl Icahn bought the property in 2010 for $105 plus the forgiveness of $49 in debt-in-possession.

D.I. Development Group

Through affiliate GIH-SPE II, LLC, this company owned the Greek Isles (202 rooms) from 2007 to 2009. After GIH defaulted on a loan and entered bankruptcy, ownership of the Greek Isles was assumed by Canparters.

Diversified Real Estate Concepts, Inc.

Private, owned? by Michael Peterson, president and chief executive.

Chicago-based developer Diversified Real Estate Concepts is building the Platinum Hotel and Spa (255 condo-hotel units opening in 2006). Operated by Marcus Hotels and Resorts.

Another project, Aqua Blue (825 condo-hotel rooms), was cancelled in July 2005 due to high building costs. Diversified is also building Urban Village (2,400 condos) and Club Renasissance condo tower (950 condos, opening 2007) with Downtown Development Group.

Peterson has developed several housing projects in Chicago and Wisconsin, owns several Houlihan's franchise restaurants and has developed several condo-hotel and resort projects in Wisconsin.

DLJ Merchant Bank Partners

An affiliate of Credit Suisse, this private equity firm owns 85.9% of The Hard Rock Hotel. The remaining 14.1% is owned by Morgans Hotel Group Co. which also manages the hotel.

Dominion Financial LLC

Controlled by Canadian Syd Ghermezian, owns a portion of Riviera Holdings and the Riviera Hotel and Casino (2,700 rooms, opened in 1955).

Donner Investment Trust

Headed by Andrew Donner, owns about 66% of Downtown Resorts and the Lady Luck.

Doumani Family

Lorenzo Doumani and his family own Majestic Resorts. Developing The Conrad Majestic (272 hotel rooms, 286 condo-hotel rooms, 2009). Original developers of The Tropicana, which they no longer own.

Downtown Resorts, LLC.

From 2005 to 2007, owned the Lady Luck Casino and Hotel (791 rooms, opened 1964). Bought in 2005, then sold to developer CIM Group, possibly for $25 million.

Downtown Resorts was formerly known as The Henry Brent Company (2003-2007) and was owned by Keith Grossman, Andrew Donner and Robert O'Neil.

Dubai World

Chairman: Sultan Bin Sulayem

11/27/09: CityCenter investor Dubai World may default, although partner MGM Mirage says this would not affect CityCenter.

Through subsidiary Infinity World Development Corp., owns 50% (with MGM Mirage) of CityCenter Holdings, LLC, builder of Project CityCenter.

Dubai World is an investment holding company owned by the government of the Persian Gulf emirate of Dubai. Dubai World was launched in 2006 by Sheikh Mohammed Bin Rashid Al Maktoum (Ruler of Dubai, UAE Vice President and Prime Minister) and is led by Sultan Ahmed Bin Sulayem (chairman). Dubai World owns the famous Dubai real estate projects of Nakheel's Palm developments and The World. Dubai World invests in a portfolio of businesses that includes DP World, Jafza, Nakheel, Dubai Drydocks, Maritime City, Istithmar, Kerzner, One & Only, Atlantis, Barney's, Island Global Yachting, Limitless, Inchcape Shipping Services, Tejari, Technopark and Tamweel. Nakheel LLC, is an entity owned by the Government of Dubai. Dubai World's Board members include: Sultan Ahmed Bin Sulayem (Chairman), Jamal Majid Bin Thaniah, Ahmed Butti Ahmed, Saeed Ahmed Saeed, Chris O'Donnell, Saad Abdul Razak, Geoff Taylor, Maryam Sharaf, Suleiman Al Mazrouei, Khulood Al Rostamani, David Rutledge, David Jackson, Alan Rogers and Omar Hijazi.

Dune Capital Management

Funds 3700 Associates which owns the Grand Hyatt (2008, 1000 rooms).

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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.