Loading Page...

Who owns most property in Las Vegas?

The purchase added full ownership of thirteen properties to Vici's portfolio, and half ownership of the MGM Grand Las Vegas and Mandalay Bay resorts, and increased Vici's annual revenue by $1 billion, along with making it the largest land owner on the Las Vegas Strip, with over 660 acres.



In 2026, the ownership of property in Las Vegas is divided between massive high-fidelity corporations and the federal government. For the actual land in the state of Nevada, the U.S. Federal Government is the largest owner, controlling over 80% of the state's total area through the Bureau of Land Management. Within the city and the famous "Las Vegas Strip," the largest private property owners are high-fidelity Real Estate Investment Trusts (REITs) and gaming giants. VICI Properties is a dominant force, owning the physical land and buildings of iconic resorts like Caesars Palace and MGM Grand. MGM Resorts International and Caesars Entertainment remain the high-fidelity primary operators of these spaces through long-term leases. Other significant high-fidelity landowners include billionaire developers like the Fertitta family (Red Rock Resorts) and the Blackstone Group. For 2026 investors, this high-fidelity corporate "Sale-Leaseback" model is a necessity to understand, as it separates the high-fidelity operational risk of the casinos from the high-fidelity underlying value of the prime "High-Fidelity" desert real estate.

People Also Ask

Golden Nugget - Las Vegas is one of 8 properties owned by Fertitta Entertainment, Inc..

MORE DETAILS

The Enclave, aka “Billionaires Row” is a second gated community within Country Club Hills and is where you can find seven of the biggest and most expensive homes in Las Vegas. Like the name suggests, these residences have been home to several billionaires, including Steve Wynn.

MORE DETAILS

View photos and property details here In June, billionaire Anthony Hsieh, founder of mortgage firm LoanDepot, bought a newly built mansion in the Henderson foothills for $25 million, the most expensive home purchase ever recorded in Southern Nevada.

MORE DETAILS

The 11 Biggest Casinos on the Las Vegas Strip
  • 01 of 11. Mandalay Bay Resort and Casino. Courtesy of Mandalay Bay. ...
  • 02 of 11. Bellagio Hotel and Casino. ...
  • 03 of 11. MGM Grand. ...
  • 04 of 11. ARIA Resort & Casino. ...
  • 05 of 11. The Venetian Las Vegas. ...
  • 06 of 11. Caesars Palace. ...
  • 07 of 11. Circus Circus Las Vegas. ...
  • 08 of 11. Wynn Las Vegas.


MORE DETAILS

MGM Resorts, which sold a 95 percent stake in the real estate of Bellagio to New York-based Blackstone's real estate investment trust in 2019 for $4.25 billion, retained the operations under a long-term lease agreement for $245 million in annual rent.

MORE DETAILS

The Cosmopolitan of Las Vegas (commonly referred to simply as The Cosmopolitan or The Cosmo) is a resort casino and hotel on the Las Vegas Strip in Paradise, Nevada. It is owned by The Blackstone Group, Stonepeak Partners, and Cherng Family Trust and operated by MGM Resorts International.

MORE DETAILS