Last Updated on July 31, 2026 by Daniel Globe
Caesars Palace is one of the best-known resorts on the Las Vegas Strip, but the answer to “Who owns Caesars Palace?” is not as simple as naming one company. The resort’s real estate is owned by one company, while another company operates the hotel, casino, restaurants, entertainment venues, and Caesars brand.
Quick Answer
As of July 31, 2026, VICI Properties owns the Caesars Palace real estate, while Caesars Entertainment, Inc. leases and operates the resort. Caesars has agreed to be acquired by Fertitta Entertainment, but the transaction remains pending, so Fertitta is not yet the completed owner.
Key Takeaways
- VICI Properties owns the land and resort real estate associated with Caesars Palace.
- Caesars Entertainment, Inc. operates the hotel and casino under a long-term lease and controls the Caesars brand and guest experience.
- Eldorado Resorts acquired the former Caesars company in 2020 and renamed itself Caesars Entertainment, Inc.
- Fertitta Entertainment signed an agreement to acquire Caesars Entertainment in May 2026, but Caesars still described the transaction as pending on July 28, 2026.
- The Forum Shops at Caesars Palace is a separately owned shopping center operated by Simon Property Group.
Who Owns Caesars Palace?
The most accurate answer separates the resort’s physical property from the business that runs it.
| Part of the Business | Current Company | Role |
|---|---|---|
| Land and resort real estate | VICI Properties | Owns the physical real-estate asset and leases it to Caesars. |
| Hotel and casino operations | Caesars Entertainment, Inc. | Runs the hotel, casino, restaurants, entertainment, rewards program, and most guest-facing operations. |
| Caesars name and brand | Caesars Entertainment, Inc. | Controls the Caesars brand used by the resort and other properties. |
| Pending corporate buyer | Fertitta Entertainment | Signed an agreement to acquire Caesars Entertainment, subject to completion of the transaction. |
| The Forum Shops | Simon Property Group | Owns and manages the separately held shopping center connected to Caesars Palace. |
Note: Hotel ownership articles often use “owner” to describe the operator, the brand company, or the real-estate landlord. At Caesars Palace, those roles are divided between Caesars Entertainment and VICI Properties.
VICI Properties Owns the Real Estate
VICI Properties identifies Caesars Palace as one of the major gaming and hospitality properties in its real-estate portfolio. VICI owns the resort property and leases it to Caesars through the Caesars Las Vegas Master Lease.
Caesars’ own 2025 Form 10-K classifies Caesars Palace Las Vegas as a leased property and confirms that Caesars leases Caesars Palace and Harrah’s Las Vegas from VICI.
Caesars Entertainment Operates the Resort
Caesars Entertainment, Inc. remains responsible for the guest-facing business. It operates the casino, manages hotel reservations, employs the resort staff, runs Caesars Rewards, books entertainment, and oversees most restaurants and amenities associated with the resort.
This is why a hotel booking, casino account, show ticket, or customer-service interaction normally displays the Caesars Entertainment name rather than VICI Properties. VICI functions primarily as the real-estate landlord, not the hotel manager.
What the Lease Structure Means
Caesars Palace operates under a long-term lease rather than a simple hotel-management agreement. Caesars pays rent and remains responsible for operating and maintaining the property under the terms of its VICI leases.
For most guests, the arrangement makes little practical difference. Reservations, casino services, rewards, dining, and entertainment continue to be handled through Caesars. The distinction matters mainly when discussing legal ownership, corporate transactions, lease obligations, or investment in the property.
Caesars Palace has 3,980 hotel rooms, approximately 124,500 square feet of casino space, and a 4,300-seat Colosseum, according to current company and property disclosures.
Caesars Palace Ownership History
Caesars Palace opened in 1966 as a Roman-themed resort created by hotel developers Jay Sarno and Stanley Mallin. Sarno wanted guests to feel as though every visitor could live like Caesar, which is also why “Caesars” is plural rather than possessive.
The original resort was much smaller than today’s 3,980-room complex. Strong demand led to new towers, entertainment facilities, restaurants, shopping areas, and casino expansions. Caesars Palace also became closely associated with major boxing matches, celebrity performances, and highly publicized events.
Sarno and his associates sold Caesars Palace to the owners of the Lum’s restaurant company in 1969. The business later became known as Caesars World. The property passed through additional corporate owners over the following decades as the casino industry consolidated.
Harrah’s Entertainment acquired the Caesars business in 2005. Harrah’s later adopted the Caesars Entertainment name, using the better-known Caesars brand for the combined company.
The 2017 VICI Real-Estate Separation
VICI Properties was created during the restructuring of the former Caesars organization. In 2017, the Caesars Palace real estate became part of VICI’s property portfolio, while Caesars continued operating the resort under a lease.
This separation created the ownership structure that remains in place today: VICI owns the physical property, and Caesars runs the resort business.
What Eldorado Resorts Bought in 2020
Eldorado Resorts completed its acquisition of the former Caesars Entertainment Corporation on July 20, 2020. After closing the transaction, Eldorado changed its own corporate name to Caesars Entertainment, Inc.
Eldorado did not replace VICI as the real-estate owner of Caesars Palace. Instead, the combined Caesars company became the operator and tenant responsible for the resort under the VICI lease.
Is Fertitta Entertainment the New Owner?
Not yet. Caesars Entertainment entered a definitive agreement in May 2026 to be acquired by Fertitta Entertainment in a transaction valued at approximately $17.6 billion, including assumed debt.
However, Caesars described the agreement as pending when it released its second-quarter results on July 28, 2026. Until the transaction closes, Caesars Entertainment remains the current public operating company.
If the acquisition is completed under its announced terms, Fertitta Entertainment would become the corporate owner of Caesars Entertainment. That would give Fertitta control of the company operating Caesars Palace, but it would not automatically transfer VICI’s ownership of the resort real estate.
Ownership status as of July 31, 2026: VICI owns the real estate, Caesars Entertainment operates the resort, and the Fertitta Entertainment acquisition remains pending.
Amenities and Features at Caesars Palace Hotel
Caesars Palace combines a large hotel, casino, entertainment venue, pools, spa facilities, restaurants, nightlife, meeting space, and luxury shopping in one central Strip complex.
The Garden of the Gods Pool Oasis includes several pool environments, cabanas, and Roman-inspired landscaping. Pool access, operating dates, age restrictions, and cabana policies can vary by season, so guests should review the current resort information before visiting.
Qua Baths & Spa offers massages, skincare services, body treatments, Roman-inspired bathing areas, and other wellness facilities. A fitness center is also available, although access rules and fees can depend on the room package or treatment booked.
Pro Tip: Caesars Palace is a very large resort. Check which hotel tower contains your room and where your restaurant or show is located before arrival. Walking from one end of the complex to another can take longer than expected.
Entertainment at Caesars Palace Hotel
The Colosseum at Caesars Palace is the resort’s signature performance venue. The approximately 4,300-seat theater has hosted long-running residencies, concerts, comedy performances, and special events featuring internationally known entertainers.
The relatively compact seating layout helps provide closer views than many arena shows. Performance dates and resident artists change throughout the year, so travelers should check the official Caesars Palace show calendar rather than relying on an undated list of performers.
Entertainment at the resort extends beyond the Colosseum. Depending on the date, guests may find comedy, nightlife, lounge entertainment, seasonal events, and special casino promotions throughout the property.
Dining Options at Caesars Palace Hotel
Caesars Palace offers fine dining, celebrity-chef restaurants, casual counters, bakeries, lounges, and buffet service. The lineup changes periodically, making it important to verify that a restaurant is still operating before planning a meal.
| Restaurant | Cuisine or Status | What to Know | Reservation Advice |
|---|---|---|---|
| Gordon Ramsay Hell’s Kitchen | British and European-inspired | Known for Beef Wellington, prix-fixe menus, and a television-show-inspired dining room. | Advance reservations are strongly recommended. |
| Mr. Chow | Permanently closed | The Caesars Palace location closed on May 17, 2025, after operating for approximately nine years. | No longer accepting reservations. |
| Bacchanal Buffet | International buffet | Caesars promotes a large rotating selection of seafood, carving-station dishes, international food, and desserts. | Reservations are recommended, especially at peak meal times. |
| Nobu Restaurant & Lounge | Japanese-Peruvian | Offers sushi, Black Cod Miso, omakase-style dining, and other Nobu signature dishes. | Advance reservations are recommended. |
Other current dining options include Restaurant Guy Savoy, Peter Luger Steak House, Brasserie B by Bobby Flay, Gordon Ramsay Pub & Grill, Dominique Ansel, and several casual venues. Restaurants may close temporarily, change service periods, or introduce seasonal menus, so the official Caesars Palace dining directory is the best place to confirm hours.
The Casino at Caesars Palace Hotel
The Caesars Palace casino contains approximately 124,500 square feet of gaming space. Caesars’ current property disclosures list about 1,310 slot machines and 170 table games, although the exact mix can change as machines and gaming areas are updated.
Common games include blackjack, roulette, baccarat, craps, video poker, and slot machines. The property also offers a sportsbook and designated high-limit gaming areas.
Poker availability and tournament schedules can change, so players should confirm current poker-room information directly with Caesars rather than relying on older travel guides.
Warning: Casino gambling is restricted to eligible adults. Set a spending limit before playing, never gamble with money needed for essential expenses, and use responsible-gaming support if gambling stops being recreational.
Accommodations at Caesars Palace Hotel
Caesars Palace has 3,980 hotel rooms and suites spread among six towers. Room sizes, layouts, renovations, views, and walking distances vary substantially by tower, so travelers should compare more than the nightly rate.
Standard rooms generally include modern televisions, private bathrooms, bedding, seating, and climate control. Larger suites may add separate living areas, dining space, soaking tubs, wet bars, or Strip views.
The resort also offers high-end villas and specialty suites designed for guests seeking larger living areas, private amenities, and enhanced service. These accommodations can vary widely in size and configuration.
Before booking, review the specific tower, room photographs, cancellation conditions, resort fee, deposit requirements, and included amenities. A room described simply as being “at Caesars Palace” may offer a different experience depending on its tower and renovation history.
Shopping at Caesars Palace Hotel
The Forum Shops at Caesars Palace is a large luxury shopping and dining complex connected to the resort. It features Roman-inspired architecture, fountains, decorative statues, restaurants, and more than 160 specialty shops and dining venues.
Retailers include luxury fashion houses and well-known international brands. Store availability and operating hours can change, so visitors should consult the official Forum Shops directory.
Despite its name and physical connection to the hotel, The Forum Shops is not owned through the same real-estate structure as the main Caesars Palace resort. Simon Property Group owns and manages the shopping center.
Note: A purchase, restaurant booking, or customer-service question involving The Forum Shops may need to be handled by Simon or the individual tenant rather than the Caesars Palace hotel desk.
Current and Future Ownership of Caesars Palace
Caesars Palace continues to operate under the Caesars Entertainment name while VICI Properties owns the real estate. Caesars remains responsible for the hotel, casino, entertainment, rewards program, and most operating decisions that directly affect guests.
The pending Fertitta Entertainment acquisition represents the next possible corporate change. If completed, it would transfer control of Caesars Entertainment to Fertitta Entertainment. It would not, by itself, mean that Fertitta had purchased the Caesars Palace land and buildings from VICI.
Future renovations and capital projects are also shaped by the lease. VICI’s disclosures state that Caesars’ leases include capital-expenditure requirements, including spending allocated to Caesars Palace. This helps explain why the landlord and operator both have an interest in maintaining and upgrading the property.
Travelers should therefore remember three names:
- VICI Properties: current real-estate owner
- Caesars Entertainment, Inc.: current resort operator and brand company
- Fertitta Entertainment: prospective buyer under a pending acquisition agreement
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Frequently Asked Questions
Who owns Caesars Palace Hotel?
VICI Properties owns the Caesars Palace real estate. Caesars Entertainment, Inc. leases and operates the hotel, casino, entertainment venues, and Caesars-branded guest services.
Does Caesars Entertainment own the Caesars Palace building?
No. Caesars Entertainment operates the resort under a lease, while VICI Properties owns the underlying real-estate asset.
Who operates Caesars Palace?
Caesars Entertainment, Inc. operates Caesars Palace. It handles hotel bookings, casino operations, Caesars Rewards, entertainment, and most guest-facing services.
Did Eldorado Resorts buy Caesars Palace?
Eldorado Resorts acquired the former Caesars Entertainment company in 2020 and renamed itself Caesars Entertainment, Inc. The transaction gave the combined company control of resort operations, but VICI remained the Caesars Palace real-estate owner.
Does Fertitta Entertainment own Caesars Palace now?
Not as of July 31, 2026. Fertitta Entertainment has signed a definitive agreement to acquire Caesars Entertainment, but Caesars continued to describe the transaction as pending in its July 28, 2026 financial release.
Who owns The Forum Shops at Caesars Palace?
Simon Property Group owns and manages The Forum Shops. The shopping center is connected to Caesars Palace but is separately owned from the main resort real estate.
When was Caesars Palace built?
Caesars Palace opened in 1966. Jay Sarno and Stanley Mallin developed the original Roman-themed resort.
How many rooms does Caesars Palace have?
Current property and company disclosures list 3,980 hotel rooms across six towers.
What amenities does Caesars Palace offer?
Amenities include hotel rooms and suites, a large casino, the Colosseum, pools, spa and fitness facilities, restaurants, lounges, nightlife, meeting space, and access to The Forum Shops.
Is Caesars Palace a popular tourist destination?
Yes. Its central Strip location, Roman theme, casino, Colosseum, restaurants, pools, and connected shopping complex make it one of Las Vegas’s most recognizable resorts.
Sources
- VICI Properties: Caesars Palace Property Profile — supports the real-estate ownership, room count, resort size, and Colosseum capacity.
- Caesars Entertainment 2025 Form 10-K — supports the lease structure, casino size, room count, gaming inventory, and operating-company information.
- Caesars Entertainment Second-Quarter 2026 Results — confirms that the Fertitta Entertainment acquisition remained pending on July 28, 2026.
- Eldorado Resorts and Caesars Entertainment Complete Merger — explains the 2020 acquisition and corporate name change.
- UNLV Special Collections: Jay Sarno — supports the resort’s founding, 1966 opening, Roman theme, and 1969 sale.
- Simon Property Group: The Forum Shops at Caesars Palace — supports the shopping center’s separate ownership and current retail offering.