Who Owns Vegas


Next: H

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

Jackie Gaughan

Hotels: 1; Rooms: 308

Jackie Gaughan owns El Cortez (308 rooms, opened in 1941). His son is Michael Gaughan.

Michael Gaughan

Hotels: 1; Rooms: 1,350

Owns Michael Gaughan's South Point Hotel and Casino (opened 2005 as South Coast with 662 rooms; 688 rooms added in 2006). In 2007, Gaughan started work on a $95 million expansion with 830 new rooms to open in 2008, bringing the total to 2,180 rooms. The son of legendary casino owner Jackie Gaughan, Michael Gaughan opened his first casino, the Barbary Coast (now Bill's Gamblin' Hall), in 1979. He founded Coast Resorts and sold the company to Boyd Gaming Corp in 2004 for $1.3 billion. Boyd opened the $600 million South Point (then known as South Coast) in 2005, then sold the resort back to Gaughan in 2006 for about $512 million in Boyd Gaming stock. Gaughan renamed the resort South Point in 2006. The hotel opened with in 2005 with 662 rooms; a second tower with 688 rooms opened in 2006 and a third tower with 830 rooms is planned for 2008.

Michael Gaughan Hotels in Las Vegas
Hotel Opened Rooms
South Point 2005 1,350
Total: 1,350

General Growth Properties

Based in Chicago, General Growth is the nation's second-largest mall owner with 158 properties. The company entered Chapter 11 bankruptcy on April 16, 2009.

Owns five shopping malls in Las Vegas:

GeoHoliday Vacation Club

Timeshare in Jockey Club, part of RCI. Based in Canada.


An investment group led by developer Harold Rothstein of D.I. Investment, 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.

Global Hyatt Corporation

Hotels: 1; Rooms: 1,842

Controlled by the Pritzker family; Thomas Pritzker is chairman and CEO

Private | hyatt.com | Hoover's profile

Involved with the Cosmpolitan at Las Vegas (1,000 hotel rooms plus 1,700 condo-hotel units); see Deutsche Bank.

Hyatt owns Hyaa Place Las Vegas, previously known as AmeriSuites. Hyatt bought the AmeriSuites chain from The Blackstone Group in 2004 and renamed the brand Hyatt Place in 2007. AmeriSuites Hotels was founded in 1991 by Mark Yale Harris, cofounded of Red Roof Inns in 1972. Harris sold AmeriSuites in 1998 to Blackstone.

Hyatt used to manage but did not own the Hyatt Regency Lake Las Vegas. However, the hotel was sold developer Transcontinental Corp in 2006 to Loews Corp. (25%) and a private investor (75%) and renamed Loews Lake Las Vegas.

Chicago-based Global Hyatt Corporation owns Hyatt Corporation (domestic U.S., Canada and Caribbean hotels), Hyatt International Corporation (international properties), Hyatt Vacation Club, Inc. (timeshares) and U.S. Franchise Systems, Inc. (which franchises America's Best Inns and Suites, AmeriSuites, Hawthorn Suites, and Microtel). There are over 200 hotels and resorts in 43 countries around the world operating under the Hyatt(R), Hyatt Regency(R), Grand Hyatt(R) and Park Hyatt(R) brands.

The company was founded in 1957 when Jay Pritzker bought the Hyatt House in Los Angeles. Following his death in 1999, the Pritzker family formed Global Hyatt in 2005 by combining the various Hyatt holdings. In 2007, a minority interest was sold for $1 billion to a group of investors including Goldman Sachs Capital Partners and Madrone Capital Partners.

Hyatt Hotels in Las Vegas
Hawthorn Henderson 71
Hawthorn Las Vegas 278
Grand Hyatt Las Vegas 2008 1,000
Hyatt Place Las Vegas
Hyatt Regency Lake Las Vegas 1999 493
Total 1,842

The Goldman Sachs Group, Inc.

Hotels: 8; Rooms: 4,806

NYSE: GS | www2.goldmansachs.com

Through their investment arms Whitehall Street Real Estate Funds, Goldman Sachs owns the Stratosphere and two Arizona Charlie's hotels (bought from Carl Icahn's AREP in 2007). Also owns part of the Las Vegas Hilton (possibly through WH/LVH Managers Voteco) and has a minority stake in Global Hyatt Corporation. In 2007, bought a small stake in Related Cos.

Based in New York City, Goldman Sachs is one of the world's largest investment banks. The firm was founded in 1869 by Marcus Goldman, who was later joined by his son-in-law Samuel Sachs. The Whitehall Street Real Estate Funds are Goldman Sachs' primary investment vehicles for making privately negotiated real estate investments. Goldman Sachs manages Whitehall and is also Whitehall's largest investor. In 2004, Whitehall invested $60 million to get a 40% voting share of Colony Resorts LVH Acquisitions which owns the Las Vegas Hilton (2,956). In May 2006, Whitehall bought 130 U.S. hotels from Tharaldson for $1.2 billion, including a Marriott Courtyard, Fairfield, Holiday Inn Express, and Residence Inn.

Goldman Sachs/Whitehall Hotels in Las Vegas
Arizona Charlies Boulder Hwy 2000 303
Arizona Charlies Decatur 1988 258
Las Vegas Courtyard 140
Las Vegas Fairfield Inn and Suites 142
Las Vegas Hilton (40%) 1969 2,956
Las Vegas Holiday Inn Express 177
Las Vegas Residence Inn 160
Stratosphere 1996 2,444
Total 4,806

Gordon Gaming Corporation

Previous owner of the Sahara. On March 2, 2007, Gordon Gaming agreed to sell the Sahara to SBE Entertainment and Stockbridge for an undisclosed sum. Gordon may still own nearby Strip property such as a vacant 26-acre site across Las Vegas Boulevard.

Gordon Gaming is the operating company of William Gordon, son and heir of Bill Bennett who bought the Sahara in 1995.

Grand Central South Partners

Proposing the Grand Central Hotel, a 2,500-room, 61-story hotel at Charleston Boulevard and Grand Central Parkway.

The group includes:

  • Merrill Group of Cos., a development and management firm with projects in Nevada and Utah.
  • Craig Katchen

The Greenspun Corporation

Hotels: 2; Rooms: 699

Owned by Brian Greenspun and family.


Brian Greenspun is the owner of the Las Vegas Sun. Through his real estate development arm, American Nevada Co., Greenspun is a 50-50 joint-owner (with Station Casinos) of the Green Valley Ranch (2001) and Alliante Station (2008).

The Greenspun Corporation (TGC) was started in 1950 by Hank Greenspun, publishing the Las Vegas Sun, Nevada's oldest family-owned newspaper. Hank died in 1989 and the company continued under Brian and Danny Greenspun. Greenspun Corp. started in 1996 and owns Vegas.com. The Greenspun Corporation also owns lasvegas.com, Showbiz Weekly, Las Vegas Weekly, and SkyMall (50% with Spire Capital).

Through American Nevada Company, owns 50% of Green Valley Ranch Resort (2001) and Aliante Station (2008, 202 rooms) (with Station Casinos) and has a 5% interest in The Palms Hotel and Casino (not included below).

Greenspun Hotels in Las Vegas
Aliante Station 2008 202
Green Valley Ranch 2001 497
Total 699

Next: H

Home | Introduction | Top Players | New Projects | News
Hotels | Index | Timeshares | Links | Email

1 | A | B | Blackstone | C | D | E | F | G | H | Harrah's | I | J | K | L
M | MGM | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

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.