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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.
On October 15, 1998, Wynn opened the even more opulent Bellagio, a $1.6 billion resort considered among the world's most spectacular hotels. [27] The architect was Jon Jerde of The Jerde Partnerships, and construction was undertaken by Wynn's company Mirage Resorts, Inc. When built, the Bellagio was the most expensive hotel in the world.
In October 1998, Wynn opened the even more opulent Bellagio, a $1.6 billion resort considered among the world’s most spectacular hotels. [15] The architect was Jon Jerde of The Jerde Partnerships, and construction was handled by Mirage Resorts, Inc. When built, the Bellagio was the most expensive hotel in the world.
[37] [38] The acquisition included the Venetian and Palazzo casino hotels and the Sands Expo convention center. [38] Apollo Global Management bought the operating business and leased the property from Vici for $250 million per year. [37] In April 2022, Vici acquired MGM Growth Properties for $17.2 billion (including $5.7 billion in assumed debt).
The land entrance side of the Beau Rivage, as seen pre-Katrina in 2002. The name of Beau Rivage was originally meant for the Bellagio casino resort on the Las Vegas Strip, however, developer Steve Wynn of Mirage Resorts changed Beau Rivage into Bellagio, and reserved this name for his new waterfront casino in Biloxi.