Who Owns Vegas


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

Edge Group LLC

Controlled by Trevor Pearlman, Reagan Silber and Adam Frank


July 2007: May join with Africa Israel to develop a 60-acre plot near the Hard Rock, previously the site of the cancelled W Las Vegas.

Edge Group LLC is a Las Vegas-based development and investment company formed in 2004 by principals Trevor Pearlman, Reagan Silber and Adam Frank. Former lawyers turned entrepreneurs, they bought the Bourbon Street hotel in 2004 and sold it to Harrah's in 2005 for $40m profit.

In 2005, Edge proposed The W Las Vegas Hotel, Casino and Residences, with 4,000 rooms and condos, opening in 2008. Edge was to own 75% of the project, through a subsidiary, Edge Resorts LLC, with Starwood Hotels & Resorts Worldwide owning the remaining 25%. However, Starwood pulled out and in May 2007 Edge announced the cancellation. Of the 50-acre land, Edge bought 22 acres in 2005 from home builder D.R. Horton for $108 million and 25 acres in 2006 for $202 milllion from the Las Ramblas group (After Midnight, Centra, George Clooney, and Related). Edge has proposed the Edge East project, with several boutique hotels and a casino.

Edge is a 1/3 partner in Weststate Holdings, which owns a 63-acre parcel west of I-15 by Mandalay Bay on which there may be built several Starwood hotels.

Edge Resorts LLC

A subsidiary of Edge Group which was to own The W Las Vegas.

Ian Bruce Eichner

A Miaimi and New York developer. Is a partner in 3700 Associates, LLC.

3700 Associates started the Cosmopolitan / Grand Hyatt project but foreclosure struck and Deutsche Bank took ownership.

3700 Associates owns 5% of Riviera Holdings Corp. In November 2006, Eichner and the D.E. Shaw Group made a $262 million takeover offer for Riviera Holdings Corp.

Elad IDB Las Vegas

Bought The New Frontier (986 rooms, opened 1942, closed 2007) from Phil Ruffin. Paid $1.2 billion ($33 million an acre) for the Frontier and intends to replace it with The Las Vegas Plaza, a $5 billion project with 4,100 hotel rooms and 2,600 condos to open in 2011. The project will be modeled after the Plaza Hotel in New York, which Elad Group bought in 2005 and owned through subsidiary Elad Properties.

Elad IDB Las Vegas is a joint venture between:

  • Elad Group (52.5%) of New York. a private real estate development company controlled by Israeli billionaire Yitzhak Tshuva.
  • Property & Building Corp. (47.5%), a subsidiary of Israeli-based IDB Holdings Corp.
Elad IDB's Proposed Hotel in Las Vegas
The Las Vegas Plaza 2011 4,100
Total 4,100

El Ad Group (El Ad US Holding, Inc.)

Private | Yitzhak Tshuva

Owns 52.5% of Elad IDB Las Vegas which, in 2007, bought The New Frontier (986 rooms).

Elad is a private real estate company based in New York, and owned by Israeli businessman Yitzhak Tshuva who runs his empire through three companies: Elad Holdings, Tshuva Holdings and Delek Group. The president and CEO is Miki Naftall. Elad owns numerous Manhattan properties and bought New York's Plaza Hotel in 2005.

Eldorado Resorts Corp.

A subsidiary of The Berkley Group, Inc..

Emerald Suites, LLC.

Hotels: 4; Rooms: 887


Extended-stay lodging in four Emerald Suites hotels.

Emerald Suites Hotels in Las Vegas
Emerald Suites Cameron 98
Emerald Suites Las Vegas Blvd 396
Emerald Suites Nellis 168
Emerald Suites Tropicana 225
Total 887

EW Common, LLC

A partner in 155 East Tropicana LLC which owns Hooter's. EW Commons, LLC includes the owners of the previous incarnation of this hotel, the San Remo — father-and-son Sukeaki and Toyoruko Izumi from Japan, who previously operated as S.I. Enterprises, LLC. The other parter in 155 is Florida Hooters.

Exclusive Resorts

This destination club will develop and own 30 condos on floors 42-48 in Vdara Condo Hotel, part of Project CityCenter by MGM Mirage. The CEO is Donn Davis.

Extended Stay, Inc.

See Blackstone.

In 2007, an investor group led by Lightstone bought Extended Stay from Blackstone Group for $8 billion. However, the chain went into bankruptcy in June 2009 and was bought in May 2010 for $3.9 billion by Paulson & Co., Centerbridge Partners and, guess who, Blackstone Group.

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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.