A Deep Dive into the Ownership of El Cortez Hotel and Casino

El Cortez Hotel and Casino, located in the heart of Las Vegas, has long been a staple of the Strip's iconic history. But who owns this historic landmark? In this comprehensive exploration, we will uncover the fascinating tale of the ownership of El Cortez Hotel and Casino, shedding light on its intriguing past and future.

The Founding of El Cortez

Established in 1941 by Benny and Betty Siegel, El Cortez was the first resort to be built on the Las Vegas Strip. The hotel was named after Benny's mother, who hailed from Monterrey, Mexico. As the first major hotel and casino to be built in Las Vegas, El Cortez set the tone for the vibrant hospitality industry that would later define the city.

Benny Siegel, a notorious mobster, had a vision for a hotel that would cater to the growing number of tourists flocking to Las Vegas. He envisioned a luxurious resort that would offer everything from top-notch accommodations to world-class entertainment. El Cortez quickly became a popular destination for celebrities, gamblers, and tourists alike.

The Rise of El Cortez

Throughout the years, El Cortez has undergone several transformations, each reflecting the changing times and the evolving tastes of its patrons. The hotel has been known for its elegant decor, comfortable rooms, and a wide variety of amenities. El Cortez has also been a hub for entertainment, featuring top acts and performances over the years.

Despite the hotel's enduring popularity, it faced several challenges, including competition from newer, more luxurious resorts. However, El Cortez's loyal customer base and its enduring legacy as the first hotel on the Strip have helped it maintain its status as a cherished Las Vegas icon.

Ownership Transitions

El Cortez has undergone several ownership changes over the years. In 1956, Benny Siegel sold the hotel to his son-in-law, Benny Binion, who was a prominent figure in the Las Vegas gaming industry. Binion continued to run El Cortez until his death in 1989.

After Binion's passing, his estate sold El Cortez to a group of investors, who continued to operate the hotel under the same name. In 2001, the El Cortez was acquired by Gaming and Leisure Properties, Inc., a real estate investment trust specializing in gaming real estate properties.

Ownership Today

Gaming and Leisure Properties, Inc. is currently the owner of El Cortez Hotel and Casino. The company has made significant investments in the hotel, including renovations and improvements to ensure that El Cortez remains a top-tier destination in Las Vegas.

Under the ownership of Gaming and Leisure Properties, Inc., El Cortez has continued to thrive as a beloved Las Vegas icon. The hotel has become a beacon of nostalgia, reminding visitors of the city's rich history and its enduring spirit.

FAQs

1. Who was Benny Siegel?

Benny Siegel was a notorious mobster and the original owner of El Cortez Hotel and Casino. He was a key figure in the Las Vegas gaming industry and had a vision for the hotel that would make it a staple of the Strip.

2. When was El Cortez built?

El Cortez was built in 1941, making it the first resort to be built on the Las Vegas Strip.

3. How many owners has El Cortez had?

El Cortez has had several owners, including Benny Siegel, Benny Binion, and currently, Gaming and Leisure Properties, Inc.

4. Why is El Cortez important to Las Vegas?

El Cortez is important to Las Vegas as it was the first hotel built on the Strip, setting the tone for the vibrant hospitality industry that would define the city.

5. What are some of the notable acts that have performed at El Cortez?

El Cortez has been a hub for entertainment, featuring top acts such as Frank Sinatra, Sammy Davis Jr., and The Rat Pack. The hotel has also hosted numerous boxing matches, including the famous "Battle of the Century" between Muhammad Ali and Joe Frazier.