Current Ownership Structure of Westgate Las Vegas
Westgate Las Vegas Resort and Casino is currently owned by Westgate Resorts LLC, a privately held company controlled by its founder, Sheldon Adelson, until his passing in January 2021. As of the latest available public data, the property operates under the corporate umbrella of Westgate Resorts, which maintains direct ownership of the land and operating entity. The resort sits on a 64-acre parcel on the Las Vegas Strip, with the main tower rising 30 stories and containing over 2,900 rooms. Ownership records show the property has been continuously operated under the Westgate brand since 2014, when the resort was renamed from the Las Vegas Hotel and Casino. The current operating license is held by Westgate Resorts Development Company, a subsidiary of the parent entity. For the most recent corporate filings, the SEC page for Westgate Resorts provides direct access to ownership disclosures and financial statements SEC Westgate Resorts filings.
The ownership chain traces back to the original development by the Las Vegas Convention and Visitors Authority and subsequent private acquisition. In 2014, the property was fully acquired and rebranded under the Westgate name, consolidating ownership under a single corporate structure. The resort operates as a standalone property with no shared ownership with other Strip casinos. Real estate records confirm the land is held in the name of Westgate Resorts Development Company, while the gaming operations are managed through a separate Nevada-licensed operating company. This structure separates the real estate asset from the day-to-day gaming operations, a common practice among large Strip resorts. The current ownership model prioritizes long-term asset retention rather than sale or redevelopment, with the property functioning as a flagship resort for the Westgate brand.
Key Shareholders and Corporate Control
Westgate Resorts LLC is a privately held company, meaning its ownership is not publicly traded on stock exchanges. The primary controlling interest has historically been held by the Adelson family through private investment vehicles. After Sheldon Adelson's death, control passed to his wife, Miriam Adelson, and the family trust structure. The company's ownership is concentrated among a small group of private investors and family trusts, with no public equity market listing. This private structure limits public disclosure of exact ownership percentages, though corporate filings with the Nevada Gaming Control Board provide partial transparency. The family trust structure ensures continuity of control without requiring public shareholder votes or quarterly earnings disclosures.
The resort's operating subsidiary is Westgate Resorts Development Company, which holds the gaming license and manages daily operations. This subsidiary is wholly owned by the parent Westgate Resorts LLC, creating a clear vertical ownership structure. The company's headquarters are located in Las Vegas, Nevada, with the Westgate Las Vegas property serving as the primary operating asset. The corporate structure includes separate entities for real estate holdings, gaming operations, and marketing, each wholly owned by the parent company. This layered structure is typical for large privately held resort companies in Las Vegas. For additional corporate background, the Forbes profile of Westgate Resorts provides an overview of the company's history and ownership Forbes Westgate Resorts profile.
Historical Ownership Timeline and Brand Context
The property opened in 1969 as the International Hotel and has undergone several ownership changes before becoming the Westgate Las Vegas. Key ownership transitions include the Kirk Kerkorian era, when the property was part of MGM Grand Inc., and subsequent sales to private investors. The resort was renamed the Las Vegas Hotel and Casino in 1995 after a period of ownership by a group of Las Vegas businessmen. The Westgate brand acquisition in 2014 marked the final ownership change, with the property becoming the flagship resort of the Westgate Resorts portfolio. The resort has maintained its position as one of the largest hotels on the Strip by room count, with over 2,900 rooms and extensive convention facilities. The Westgate