Who Owns Vegas


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

Carl Icahn

See American Real Estate Partners, L.P.

Icahn Nevada Gaming Acquisition LLC

On 1/27/10, acquired the half-built Fountainbleau for $156m. The developer, Fountainebleau Las Vegas (3,800 rooms), had spent $2 billion on the property before filing for bankruptcy in June 2009.

Deutsche Bank A.G. may or may not still have some ownership.

IDB Group

www.idb.co.il | Chairman: Nochi Dankner

Owns 30% of The New Frontier (986 rooms).

The IDB Group is the largest investment company in Israel. Through subsidiaries IDB Holding Corporation and Discount Investment Corporation, owns 63% of Israel's Property & Building Corporation Ltd. which owns 47.5% of Elad IDB Las Vegas which owns the site of The New Frontier (986 rooms, 1942-2007).

IDM Properties

Investorin LVT1 which is building the Crown Las Vegas. Privately-held by Chris (Christopher) Milam, a Texas developer based in Austin, TX. IDM = International Development Management.

Infinity World Development Corp.

A wholly-owned subsidiary of Dubai World and 50% owner (with MGM Mirage) of CityCenter Holdings, LLC, builder of Project CityCenter.

InterContinental Hotels Group, PLC.

Hotels: 7; Rooms: 903

NYSE: IHG | ihgplc.com | Hoovers profile

Based in Windsor, United Kingdom, InterContinental is the world's largest hotel company by room count, with over 3,500 properties. Brands include Holiday Inn, Crowne Plaza, Staybridge Suites, and Candlewood Suites.

InterContinental Hotels in Las Vegas
Candlewood Las Vegas 276
Crowne Plaza Chinatown (2010)
owned by Cogent
Crowne Plaza LV
owned by RCI
Holiday Inn Express Henderson 101
Holiday Inn Express Las Vegas North 74
Holiday Inn Express Las Vegas Central 177
Holiday Inn Express Las Vegas West 65
Holiday Inn Express US 95 Ann Road (2006) 100
Holiday Inn Express Rainbow/Sobb (2006) 110
Total 1,490

International Gaming and Entertainment

IGE does not own any hotels in Las Vegas but, in 2006, the company made an unsupported bid to buy Riviera Holdings, owners of the Rivieria (2,070 rooms).

IGE is/was a privately-held group, possibly formed solely for the Riviera bid. Principals include: Jeffrey Wu, majority shareholder of United International Bank in New York; Michael Signorelli, principal of NevStar Gaming Entertainment Corp; Bagus Tjahjono. IGE was allied to BT Enterprises, a merchant equity fund in Boston, MA.

Interstate Hotels and Resorts

NYSE: IHR | ihrco.com

Manages the Pinnacle (1,104 condo-hotel rooms, 2009) by Falcon Group and Renaissance (578, 2004) by Jackson-Shaw.

Intrawest Corporation

Hotels: 0; Rooms: 0

Acquired by Fortress Investment Group in October, 2006.

Intrawest developed the MonteLago Village condominium-hotel project at Lake Las Vegas. The resort is operated through Playground Destination Properties, Inc.. Based in Vancouver, Canada, Intrawest Corporation (NYSE: IDR and TSX: ITW) is a developer of four season resorts. Joe Houssian founded the company in 1976 and teamed with Hugh Smythe to buy Blackcomb Mountain resort in 1986. The company went public in 1990 and was acquired by Fortress Investment Group for $2.8 billion in October, 2006.

Istithmar Hotels FZE

In Sept 2007, bought 25% (for $300 million) of the 40-acre "Atlantis" project (2012), teaming with Kerzner (25%)/MGM (50%) project.

Launched in April 2006, Istithmar Hotels FZE is an investment company for the hospitality and leisure sector. Istithmar Hotels FZE is 100%-owned subsidiary of Istithmar PJSC, an investment company 100%-owned Dubai World, which in turn is wholly owned by the Government of Dubai. The CEO of Istithmar is Joe Sita. Istithmar has an ownership stake in Kerzner Group and is a partner in Extreme Hotels.

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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.