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Bellagio (/ b ə ˈ l ɑː ʒ i. oʊ / bə-LAH-zhee-oh) is a resort, luxury hotel, and casino on the Las Vegas Strip in Paradise, Nevada. It is owned by Blackstone Inc. and operated by MGM Resorts International. Bellagio was conceived by casino owner Steve Wynn, and was built on the former site of the Dunes hotel-casino.
The company's background can be traced to 1969, when airline and casino tycoon Kirk Kerkorian bought a controlling stake in the Metro-Goldwyn-Mayer (MGM) film studio. [15] In 1970 and 1971, Kerkorian struggled with debt from his acquisitions of MGM and Western Airlines, and was forced to sell a majority of his casino company, International Leisure, to Hilton Hotels at a steep discount.
Corey Sanders has served as Chief Operating Officer of MGM Resorts International since June 2010. He oversees operations at the Company’s wholly owned properties, which in Nevada include Bellagio (resort), MGM Grand Las Vegas, Mandalay Bay, New York-New York Hotel and Casino, Luxor Las Vegas, Excalibur Hotel and Casino.
Several measures were taken by MGM and the county to reduce traffic, [203] including the construction of roundabouts in front of Aria and Vdara that connect to other CityCenter properties. [204] [205] A monorail, the Aria Express, also travels around CityCenter with stops at Bellagio and Park MGM (formerly Monte Carlo). [206]
The company was acquired in 2000 by MGM Grand Inc., which then changed its name to MGM Mirage, for $6.4 billion, including $2 billion in assumed debt, after an initial all-cash offer of $17 per share and a final offer of $21 per share. The company was majority owned by Wynn.
Golden Nugget Companies Inc. was formed by Steve Wynn in 1973. The company was created after Wynn acquired majority control of the Golden Nugget in Las Vegas, Nevada.. In 1980, the company opened the Golden Nugget Atlantic City in New Jersey but in 1987, Wynn's and the company's interest in Atlantic City did not last very long due to frustration with state gaming regulators.
Blackstone Real Estate Income Trust will acquire the Bellagio for $4.25 billion through a 95-5 joint venture with MGM and will lease it back to a unit of the casino company for an initial annual ...
MGM acquired Mandalay Bay in 2005, and The Blackstone Group became a co-owner in 2020. Vici acquired MGM's ownership stake in 2022. Mandalay Bay has a tropical South Seas theme and covers 120 acres (49 ha). It includes a 147,992 sq ft (13,748.9 m 2) casino and 3,209 rooms.