Who Owns Caesars Palace

Are you wondering who owns Caesars Palace? The brand is one of the most iconic in Vegas, so it’s a question that many people ask. 

While Caesars Entertainment Inc operates the property, it’s actually owned by a corporation by the name of Vici Properties.

The story behind this question takes a few twists and turns and includes some interesting facts and trivia about Las Vegas. 

Caesars Entertainment Corporation

Caesars Corporation

Whenever you’re looking online at Caesar’s Properties in Vegas, you see the Caesars brand logo all over the place. 

This is because it’s one of the most recognized and respected hospitality brands in the entire world. With brand recognition like that comes money – and who would want to give up that level of revenue? Unfortunately, Caesars Operating Company had to file for Chapter 11 bankruptcy, and from that, Vici Properties (a real estate investment trust) acquired the famous Sin City resort.

After Vici Properties acquired the resort, they leased the property back to the Caesars Group for the not-small price tag of $165 million per year. 

But the story takes more twists and turns than just that – other investors have wanted a piece of the company business also along the way. 

Back in 2005, the Caesars Entertainment Corporation was purchased by Harrah’s, which owned the property until the ownership was transferred over to Vici. In 2020, the Caesars Corporation was purchased by Eldorado Entertainment, which is based out of Reno. 

Throughout all of this, Caesars still operates the resort, while the actual ownership has remained under Vici. 

About Caesars Palace

About Caesars Palace

Caesars Palace opened in 1966 with an ancient Roman Empire theme. It was founded by Jay Sarno and Stanley Mallin with the idea that anyone staying there would feel like a Caesar. The architecture and amenities don’t disappoint. 

The hotel features six towers, along with one of the largest casinos in Sin City. The hotel offers 3,960 rooms and suites for guests, along with just about any dining and entertainment venue you can imagine. If they don’t offer it, one of the other hotels under the brand surely will. 

The history of the resort involves some notable moments. For instance, the time that Evel Knievel almost lost his life when Caesars Palace hosted what was to be one of his career-defining jumps. 

He didn’t successfully complete it, but his son later did.  The resort was also home to famous performers, including Frank Sinatra and Celine Dion. 

Over the years, the property, which is sometimes coined as Caesars World (thanks to the casino & hotel operator that once went by the same name), has maintained its status of being one of the best resorts in all of Nevada, often being preferred over just about any new hotel that makes its way to the Strip.

The Casino & More

There are several features that this luxury property on the Strip is known for. First of all, there’s the casino. The first casino at the resort was called Circus Circus, but the name was dropped, and the casino rebranded after some disagreements that involved organized crime – Sin City has some shady history! 

Today, the casino offers a 124,181-square-foot gaming space. There’s poker, slot machines, video blackjack, roulette, baccarat – you name it! 

The property is also home to the Forum Shops, which is one of the most popular shopping venues in the city. In addition to a number of famous shows and residencies, plus the Colosseum, the property is also home to some of the best restaurants and table services in the city. 

What Other Properties Does Caesars Inc Own?

Other properties owned by the world-famous hospitality brand include:

  • Flamingo 
  • Harrah’s 
  • Horseshoe 
  • Paris 
  • Planet Hollywood
  • Rio
  • Cromwell 
  • LINQ

FAQs

What hotel chain is Caesars Palace part of?

Caesars Palace Vegas belongs to the family of Caesars Entertainment Inc., which includes many famous Vegas properties, such as Paris Las Vegas, Planet Hollywood, Rio All-Suite Hotel, the u003ca class=u0022wpil_keyword_linku0022 href=u0022https://vegasfoodandfun.com/the-cromwell-las-vegas/u0022 title=u0022Cromwellu0022 data-wpil-keyword-link=u0022linkedu0022u003eCromwellu003c/au003e, Linq, and more. 

Did MGM buy Caesars Palace?

MGM did not buy and is not the owner of Caesars Palace. The iconic Vegas hotel is operated by Caesars Entertainment Inc and owned by Vici Properties. 

How much was Caesars Palace bought for?

According to the Las Vegas Review-Journal, Reno-based Eldorado Resort Inc recently purchased the Caesars Brand, which operates Caesars Palace, for a hefty $17.3 billion. 

Who is the CEO of Caesars Palace?

Thomas Regg is the current CEO of Caesars Entertainment, which is the operating body of Caesars Palace Las Vegas. 

Key Takeaways

  • Caesars Palace Casino & Resort is one of the most prominent properties on the Las Vegas Strip
  • 124,181 square feet of gambling space is a huge visitor attraction to the resort
  • Caesars Palace is operated by Caesars Entertainment but owned by Vici Properties
  • Caesars Entertainment Inc has changed owner hands multiple times
  • The original owners – Jay Sarno and Stanley Mallin, are as big of names in Sin City as Steve Wynn.  

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