Who Owns the Flamingo Hotel Las Vegas: The Real Story for 2026

Walk down the Las Vegas Strip today, and it’s a sea of neon, glass, and massive LED screens. But if you stand right at the center—where the Flamingo sits—you’re basically standing on the ghost of the city's original soul. People ask all the time: who owns the Flamingo Hotel Las Vegas now? Honestly, the answer is a lot more corporate than the pink feathers and mob lore might suggest, but the story behind how it got here is wild.

The short answer is that Caesars Entertainment, Inc. owns and operates the Flamingo. Specifically, it’s owned by a subsidiary of the massive NASDAQ-listed giant (ticker: CZR).

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But "ownership" in Vegas is rarely just one name on a deed. It’s a tangle of REITs, parent companies, and history.

The Modern Empire: Who Holds the Keys?

Right now, in 2026, the Flamingo is a crown jewel in the Caesars Entertainment portfolio. This isn't the old Caesars from the 90s, though. The current company is actually the result of a massive 2020 merger where Eldorado Resorts basically swallowed the old Caesars Entertainment Corporation and took its name because, well, "Caesars" has way more brand power.

You’ve got guys like Tom Reeg (CEO) and Anthony Carano (President) running the show from the corporate side.

They don't just own the Flamingo. They own a literal wall of the Strip:

• Caesars Palace
• Planet Hollywood
• The LINQ
• The Cromwell
• Paris Las Vegas
• Harrah’s

It’s a massive operation. When you stay at the Flamingo, you're part of the Caesars Rewards ecosystem. That means your slot play in a pink-themed room helps you get a free dinner over at a French-themed bistro down the street. It’s all connected.

Wait, Does VICI Properties Own the Land?

Here is where things get kinda technical. If you follow Vegas real estate, you know that companies like MGM sold off almost all their physical buildings to a company called VICI Properties and then started paying rent.

Surprisingly, for a long time, Caesars kept the Flamingo’s real estate under its own umbrella rather than doing a "sale-leaseback" with a REIT (Real Estate Investment Trust). While VICI owns the land under Caesars Palace and Harrah's, the Flamingo has remained a core owned asset for the Caesars group.

There were rumors for years—literally since 2022—that Caesars might sell the Flamingo. They even publicly talked about selling one of their Strip assets to pay down debt. Everyone thought the Flamingo was on the chopping block.

But it never happened.

Instead, they doubled down. As we hit the 80th anniversary of the Flamingo in 2026, Caesars is pouring money back into it. They just finished a massive renovation of the lobby, revamped Bugsy’s Bar, and added new spots like Pinky’s by Vanderpump. They aren’t acting like a company that wants to sell; they’re acting like a proud owner.

The Mob, Billy Wilkerson, and the "Bugsy" Myth

You can’t talk about who owns the Flamingo without talking about who used to own it. This is where the history gets messy.

Most people think Benjamin "Bugsy" Siegel sat down and dreamt up the Flamingo. Not true.

The real visionary was a guy named Billy Wilkerson. He founded The Hollywood Reporter. He was a gambling addict who wanted to build a European-style luxury resort in the desert. He ran out of money—mostly because he kept gambling away the construction budget.

That’s when the mob stepped in.

Siegel and his partners, including Meyer Lansky, took over. Siegel was the "owner" in the eyes of the public, but he was really the manager for the Chicago Outfit and other syndicates. After he was famously gunned down in Beverly Hills in 1947 (just six months after the hotel opened), the property went through a revolving door of owners.

The Ownership Timeline (The Quick Version)

• 1946: Billy Wilkerson starts it; Bugsy Siegel finishes it.
• 1947: Siegel is murdered; his mob associates take the reins.
• 1960s: A group including Morris Lansburgh and Daniel Lifter buys it (still mob-linked).
• 1967: Kirk Kerkorian buys it. This was huge. It was the first step toward "corporate" Vegas.
• 1970: Hilton Hotels buys it. They renamed it the "Flamingo Hilton."
• 1998: Hilton spins off its gaming division into Park Place Entertainment.
• 2005: Harrah’s Entertainment buys Park Place (which had become Caesars Entertainment).
• 2020: Eldorado Resorts merges with Caesars, keeping the Caesars name.

Why the Flamingo Still Matters in 2026

In a city that loves to blow up its history with dynamite, the Flamingo is a survivor. It’s the oldest operating resort on the Strip.

Why hasn't Caesars sold it? Location.

It sits on the "50-yard line" of the Las Vegas Strip. You can walk out the front door and you're right across from Caesars Palace and next to the LINQ Promenade. It’s the most valuable real estate in Nevada.

Also, the brand is weirdly resilient. It’s not "luxury" like the Wynn or Fontainbleau, but it has a specific "Vegas kitsch" that people love. The pink neon, the actual live flamingos in the wildlife habitat, the "Go Pool" day club—it appeals to a younger crowd that wants the Vegas vibe without the $500-a-night price tag.

Misconceptions About the Ownership

One thing people get wrong is thinking the Hilton family still owns a piece of it. They don't. The Hilton name came off the building years ago.

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Another weird one? Some people think Donny and Marie Osmond owned it because they performed there for eleven years. Nope. They were just the star attraction.

Currently, the management is led by Dan Walsh, who is the Senior Vice President and General Manager of the property. He reports up the chain to the corporate office at One Caesars Palace Drive.

What’s Next for the Flamingo?

If you're visiting this year, you'll see the results of the 2025-2026 "refresh."

They’ve moved away from the old, dark lobby feel. It’s all about "retro-chic" now. They are leaning into the 1940s aesthetic but with 2026 technology. Think bronze flamingo statues, custom murals, and high-tech pod-style check-in desks.

They also just brought in Category 10, which is a massive Luke Combs-inspired entertainment venue. This shows that Caesars is trying to bridge the gap between "Old Vegas History" and "Modern Country/Pop Culture."

Actionable Insights for Visitors

If you're planning a trip to this Caesars-owned icon, keep these things in mind:

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1. Use the App: Since it’s a Caesars property, use the Caesars Rewards app. Don't wait in the lobby line. You can check in on your phone and get a digital key.
2. Visit the Habitat: The Flamingo Wildlife Habitat is still free. It’s one of the last free things to do on the Strip. It’s owned and maintained by the hotel as a "public" service.
3. Check the Resort Fees: Like almost every corporate-owned hotel in Vegas now, the Flamingo has resort fees. Expect to pay around $45-$50 extra per night on top of the room rate.
4. The "Bugsy" Seat: If you go to the newly renovated Bugsy’s Bar, look for the tributes to the original owner. It’s corporate now, but they still respect the ghost of the man who (barely) started it all.

The Flamingo has survived the mob, the corporate raiders of the 80s, bankruptcy cycles, and a global pandemic. Under the current ownership of Caesars Entertainment, it looks like the pink neon isn't going anywhere anytime soon.

To get the best experience, always book directly through the Caesars website to ensure your rewards credits are tracked correctly and to avoid third-party booking headaches.