Who Actually Owns Las Vegas?
Steven Campbell, host of Not Leaving Vegas, reports that the chain of ownership in Las Vegas and across the nation’s vacation industry is deep and twisted, and impacting tourism.
So who actually owns most of the interest Las Vegas and its famed Strip? Campbell says the immediate answer is MGM Resorts, Caesars Entertainment, Wynn and Las Vegas Sands. But that’s the illusion of choice, he says. The real king of the hill is Vanguard, who some say hijacked The Strip in Vegas, ultimately leading to alleged charges of fixing hotel room rates and creating absurd resort fees and, eventually, an antitrust lawsuit.
Vanguard, one of the world’s largest corporations, has amassed a stunning 32.5 percent of all the common stock in properties on The Strip, a massive $5.4 billion investment! And they are the surprising owners of Vici Properties, who have scooped most of the land and structures on The Strip, turning the casino operators into renters beholden to landlords and subject to lease agreements.
In the following video, Campbell reveals the timeline of Vanguard’s corporate takeover and how the antitrust lawsuit will have a huge impact on the city and The Strip.
