Who Owns the Flamingo Hotel in Las Vegas: What Most People Get Wrong

If you’re walking down the Las Vegas Strip and you see those neon pink feathers glowing against the desert sky, you’re looking at a ghost. Not a literal one—though some folks swear they’ve seen Bugsy Siegel pacing near the garden chapel—but a ghost of an era that basically shouldn't exist anymore. The Flamingo is the oldest resort still standing on the Strip. It has survived mob hits, corporate raids, and enough "final" closing rumors to fill a library.

But who actually signs the paychecks there in 2026?

Honestly, the answer is a lot more corporate than the movies make it out to be. The Flamingo Las Vegas is owned and operated by Caesars Entertainment, Inc. You’ve probably heard of them. They’re the massive conglomerate that owns everything from the Roman-themed palace next door to the Horseshoe. If you’ve got a Caesars Rewards card in your wallet, you’re essentially a customer of the same people who own the pink neon legend.

The Caesars Empire and the "Almost" Sale

It’s kinda funny because, for a minute there, we almost weren’t talking about Caesars at all. Back in 2022, the rumor mill was working overtime.

The CEO of Caesars Entertainment, Tom Reeg, basically told investors that they were looking to sell one of their major Strip assets. Everyone and their grandmother assumed it was the Flamingo. The logic made sense: the property is old, maintenance is a beast, and the land itself is worth more than most small countries.

But then? Nothing.

The market got weird, interest rates did their thing, and Caesars eventually pulled the "For Sale" sign off the lawn. Instead of offloading it, they decided to double down. As of early 2026, they are still the undisputed owners, and they’ve been pouring money into the place like they’re trying to win a high-stakes poker game.

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Why the Ownership History is a Total Mess

To understand who owns the Flamingo now, you sort of have to look at the trail of breadcrumbs left behind. This isn't just a hotel; it's a hot potato that has been passed around for eighty years.

Billy Wilkerson was the guy with the original vision. He was the founder of The Hollywood Reporter and a guy who loved to gamble way more than he loved his bank account. He ran out of cash, and that’s when the mob stepped in.

1. The Mob Era (1946–1967): Bugsy Siegel is the name everyone remembers. He took Wilkerson’s dream, spent a fortune of the Mafia’s money on it, and then got shot in Beverly Hills for his trouble. After that, guys like Meyer Lansky and Gus Greenbaum ran the show.
2. The Corporate Pivot (1967–1972): This is when Kirk Kerkorian, the legendary "Father of the Mega-Resort," bought the place. It was the first sign that the suits were winning over the wise guys.
3. The Hilton Years (1972–1998): For a long time, it was officially the "Flamingo Hilton." Hilton brought a level of stability—and maybe a little less drama—to the property.
4. The Park Place & Harrah’s Era (1998–2005): Hilton spun off its gaming division into Park Place Entertainment, which later became Caesars (the old version).
5. The Modern Caesars (2005–Present): Harrah’s Entertainment bought the whole lot in 2005 and eventually took the name Caesars Entertainment.

Even the company "Caesars Entertainment" itself changed owners! In 2020, a company called Eldorado Resorts did a "reverse merger" with Caesars. So, technically, the people running the Flamingo today are the survivors of that massive $17.3 billion deal.

What’s Happening at the Flamingo Right Now?

If you visit the Flamingo this year, you’ll notice it doesn't look like a 1940s relic. Dan Walsh, the SVP and General Manager of the resort, has been spearheading a massive renovation project just in time for the property's 80th anniversary.

They aren't just painting the walls. They’ve completely overhauled the lobby.

The new arrival experience features a "pod-style" front desk and bronze flamingo statues that look like they belong in a high-end art gallery. They also just finished a total reimagining of Bugsy’s Bar. It’s a weird balance—honoring a mobster while serving $20 craft cocktails to tourists from Iowa.

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Recent Additions to the Property

• Category 10: This is the massive Luke Combs-inspired entertainment venue. It’s a partnership with Opry Entertainment Group that’s supposed to be fully roaring by late 2026.
• Pinky’s by Vanderpump: Lisa Vanderpump brought her signature "pink everything" aesthetic to the property recently, which, let’s be real, fits the Flamingo better than almost any other hotel on the Strip.
• Gordon Ramsay Burger: Because you can’t walk five feet in Vegas without seeing Gordon Ramsay’s face, his second burger spot on the Strip is now firmly planted here.

Is the Land Owned by Someone Else?

Here is the "insider" detail that confuses people. In the world of modern Las Vegas, owning the business is different from owning the dirt.

Most of the big hotels on the Strip sold their land to Real Estate Investment Trusts (REITs) like VICI Properties. The hotels then pay "rent" to the REIT.

While VICI owns the land under many Caesars properties (like Caesars Palace), the Flamingo has occasionally been the exception in these giant leaseback deals. As of the latest financial filings, Caesars Entertainment still maintains the primary operational control and ownership interest in the Flamingo, though the complex web of VICI leases often involves the Flamingo as collateral or as part of the broader portfolio.

Basically: if you want to buy the Flamingo, you're talking to Tom Reeg at Caesars.

The 80-Year Legacy

It is sort of a miracle the Flamingo is still there. Every other "classic" hotel—the Sands, the Stardust, the Riviera—has been imploded. They’re gone. Dust in the wind.

The Flamingo stays because it has the best location on the planet. It’s "Center Strip." You can walk out the front door and you're right in the middle of the madness.

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The ownership might be corporate and the vibe might be more "family-friendly" than it was in 1947, but the DNA of the place hasn't changed. It’s still a tropical oasis with actual flamingos (and those grumpy African penguins) living in the backyard.

Summary for Your Next Trip

If you're planning to stay there or just want to win a bar bet about the owner, here is the deal:

Current Owner: Caesars Entertainment, Inc. (NASDAQ: CZR).
Key Figure: Dan Walsh (SVP and General Manager).
Recent Change: Massive 2024–2026 renovations to the lobby, bars, and the addition of the Category 10 venue.
Status: No longer for sale (for now).

If you want to experience the "real" Flamingo, skip the standard rooms and try to book one of the renovated "Flamingo Rooms." They’ve got the retro-chic vibe without the "this carpet hasn't been changed since 1994" smell. Also, make sure to walk through the Wildlife Habitat in the morning. It’s free, and it’s one of the few places on the Strip where you can actually hear yourself think.

Next time you’re there, take a look at the memorial plaque for Bugsy Siegel near the wedding chapel. It’s a small nod to the guy who started it all, even if his "ownership" ended with a bullet and a corporate takeover.

Check the Caesars Rewards app before you book. They often run "Flash Sales" for the Flamingo that can get you a room for under $50 on weekdays, especially during the shoulder seasons like early January or late August.