![]() ![]() It was founded by Jay Sarno and Stanley Mallin with the idea that anyone staying there would feel like a Caesar. Throughout all of this, Caesars still operates the resort, while the actual ownership has remained under Vici.Ĭaesars Palace opened in 1966 with an ancient Roman Empire theme. In 2020, the Caesars Corporation was purchased by Eldorado Entertainment, which is based out of Reno. ![]() 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.Īfter 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.īut the story takes more twists and turns than just that – other investors have wanted a piece of the company business also along the way.īack in 2005, the Caesars Entertainment Corporation was purchased by Harrah’s, which owned the property until the ownership was transferred over to Vici. This is because it’s one of the most recognized and respected hospitality brands in the entire world. Whenever you’re looking online at Caesar’s Properties in Vegas, you see the Caesars brand logo all over the place. ![]()
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