What is the Largest Property in Vegas?
The largest single hotel property in Las Vegas, in terms of room count, is the MGM Grand. Owned and operated by MGM Resorts International, the MGM Grand has a massive 6,852 rooms, making it the largest hotel complex in the world by number of rooms.
With over 6,800 rooms and suites, the MGM Grand is truly a city within a city. In comparison, other iconic Vegas properties like Caesars Palace (3,976 rooms) and The Venetian (4,027 rooms) seem almost quaint.
| Hotel | Number of Rooms |
|---|---|
| MGM Grand | 6,852 |
| The Venetian/Palazzo | 7,117 |
| Caesars Palace | 3,976 |
| Aria | 4,004 |
| Bellagio | 3,933 |
Data source: Las Vegas Convention and Visitors Authority
While massive in scale, the MGM Grand is actually only the second largest hotel resort complex in the United States when measuring by total square footage. That title goes to the combined Venetian and Palazzo resorts which comprise over 8 million square feet of space.
Largest Casino Properties in Vegas by Square Footage
When ranked by gaming area or casino square footage, a different property takes the top spot as the largest casino in Las Vegas – Wynn/Encore.
Covering a massive 191,424 square feet of gaming space, the combined Wynn and Encore casino resorts on the northern end of the Strip beat out even casino giants like MGM and Caesars.
Here are the Top 10 largest casino gaming areas on the Strip by square footage:
- Wynn/Encore – 191,424 square feet
- Venetian/Palazzo – 178,000 square feet
- MGM Grand – 171,500 square feet
- Caesars Palace – 166,000 square feet
- Aria – 150,000 square feet
- Bellagio – 116,000 square feet
- Mandalay Bay – 115,000 square feet
- Mirage – 107,000 square feet
- Luxor – 100,000 square feet
- Treasure Island – 95,000 square feet
Data sourced from the Nevada Gaming Control Board
In terms of gaming revenue, however, Wynn/Encore was only the third highest grossing casino in Las Vegas in 2021 at $1.1 billion in revenue. The top spot went to MGM Grand at $1.3 billion, followed by Bellagio at $1.2 billion.
Largest Landowners on the Las Vegas Strip
While famous brands like MGM, Caesars, and Wynn operate many of the iconic hotels and casinos along the Las Vegas Strip, the largest owner of the actual land and buildings is real estate investment trust Vici Properties (VICI).
Vici owns over 20 million square feet of prime real estate on the Strip, having gobbled up major properties like Caesars Palace, Harrah’s, and The Venetian in recent years. In 2022, Vici‘s revenue from its Vegas properties jumped an astounding 72% to over $2.6 billion after its multi-billion dollar acquisitions.
Other major players when ranked by Strip square footage owned include:
- MGM Resorts International – 17 million square feet
- Wynn Resorts – 9 million square feet
- Venetian – 7 million square feet
- Caesars Entertainment – 5 million square feet
- Las Vegas Sands – 2 million square feet
While casinos and hotels may operate the buildings, Vici maintains ownership and collects rent from its tenants. This has allowed the company to quietly become the largest landlord and landowner on the Vegas Strip.
The Families and Billionaires Who Own Las Vegas
Beyond the corporate landlords and casino operators, a few ultra high net worth individuals and families hold major sway in Las Vegas through their land holdings and business empires. Here are some of the billionaires who own Las Vegas:
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Sheldon Adelson Family: Worth an estimated $35.3 billion before his death in 2021, casino magnate Sheldon Adelson and his wife Miriam built Las Vegas Sands Corporation into a Strip powerhouse. The Adelsons owned The Venetian, Palazzo, and Sands Expo Center through LV Sands.
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Steve Wynn: Billionaire Steve Wynn pioneered the luxury resort concept on the Strip, turning properties like The Mirage, Bellagio, and Wynn into world-famous destinations. Wynn has an estimated current net worth of $3.2 billion.
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Phil Ruffin: With an estimated net worth of $2.5 billion, businessman Phil Ruffin owns Treasure Island and Circus Circus on the Strip. He first entered the Vegas market by acquiring New Frontier Hotel and Casino in 1997.
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Frank and Lorenzo Fertitta: Brothers Frank III and Lorenzo Fertitta built their estimated $4 billion fortune through casino operator Stations Casinos and the Ultimate Fighting Championship (UFC) promotion.
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Anthony Hsieh: The billionaire founder of LoanDepot recently made headlines for buying a nearly 30,000 square foot mansion in Las Vegas for $25 million – the highest price ever paid for a home in the city‘s history.
Millionaire Enclaves: Where Vegas Billionaires Live
When it comes to residential real estate, the most exclusive and expensive properties in Las Vegas are concentrated in ultra-high net worth communities like The Ridges in Summerlin and MacDonald Highlands in Henderson.
Home prices in The Ridges frequently surpass $10 million, with the community home to casino executives, pro athletes, and other elites. MacDonald Highlands holds the record for the highest home sale in Vegas history – Anthony Hsieh‘s $25 million mega-mansion.
Other billionaire billionaire enclaves and luxury communities include:
- Southern Highlands Golf Club: Gated community with homes averaging $3-$5 million
- Ascaya: 600 acre country club community north of Henderson
- The Summit Club: 500 acre country club and golf community in Summerlin
- Spanish Hills: Exclusive gated community in the foothills west of the Strip
The wealthy residents of these communities – casino magnates, execs, and entrepreneurs – exert major influence over the Las Vegas economy and landscape. Understanding who owns the land and casinos in Las Vegas provides insight into the power dynamics and future of Sin City itself.