Decoding the Ownership Mystery of Hollywood Park Casino

Hollywood Park Casino, nestled in the vibrant city of Inglewood, California, has been a staple in the gaming and entertainment landscape. Its history is rich with tales of glitz, glamour, and intrigue, but one question that often comes up is: Who owns Hollywood Park Casino? This article delves into the fascinating world of ownership, providing insights into the individuals, corporations, and entities that have had a hand in shaping this iconic establishment.

The Rise and Fall of Hollywood Park Casino

Established in 1979, Hollywood Park Casino was one of the first legal casinos to open in Los Angeles County. Over the years, it has become a symbol of the region's entertainment scene, attracting visitors from all over the world. However, like many things in life, its journey has had its ups and downs.

The casino was initially owned by a group of investors led by the late real estate magnate, John E. Johnson. Under Johnson's guidance, the casino flourished and became one of the most popular destinations in the area. However, in 2013, the property was sold to Station Casinos, a Las Vegas-based gaming company.

Station Casinos' ownership brought about a new era for Hollywood Park Casino. The company invested heavily in the property, updating its facilities and introducing new gaming options. This period of growth and expansion marked a turning point for the casino, solidifying its place as a top entertainment destination.

The Ownership Puzzle

Now, let's tackle the big question: Who owns Hollywood Park Casino? The answer is not as straightforward as one might think. The ownership of the casino is a complex web of corporations, partnerships, and investments.

1. Station Casinos

As mentioned earlier, Station Casinos became the new owner of Hollywood Park Casino in 2013. The company, founded by Frank Fertitta III and Lorenzo Fertitta, has a strong presence in the gaming industry, owning and operating several casinos across Nevada and California.

2. Fertitta Family

The Fertitta family is the backbone of Station Casinos. Frank Fertitta III serves as the CEO, while his brother, Lorenzo Fertitta, is the President and COO. The family's passion for gaming has driven Station Casinos' success, and their influence is evident in Hollywood Park Casino's operations.

3. Private Equity Firms

In addition to the Fertitta family, private equity firms have played a significant role in the ownership of Hollywood Park Casino. These firms, such as TPG Capital and Apollo Global Management, have invested in Station Casinos, providing financial backing and strategic guidance.

4. Shareholders

Station Casinos is a publicly traded company, meaning that it has shareholders who own a portion of the company. These shareholders, ranging from individual investors to institutional funds, have a vested interest in the casino's performance and success.

The Impact of Ownership

The ownership of Hollywood Park Casino has had a profound impact on its operations and future. Here are a few key points to consider:

1. Investment in Infrastructure

With the acquisition of Hollywood Park Casino, Station Casinos invested heavily in the property. This included a $500 million renovation project that transformed the casino into a state-of-the-art entertainment destination. The improvements have not only enhanced the gaming experience but have also attracted a new generation of visitors.

2. Expansion into Other Markets

The success of Hollywood Park Casino has allowed Station Casinos to explore new markets. The company has since acquired or invested in casinos in other states, further expanding its reach and influence in the gaming industry.

3. Community Engagement

Ownership has also led to increased community engagement. Hollywood Park Casino has become a significant employer in Inglewood, providing jobs and contributing to the local economy. Additionally, the casino has invested in community programs and initiatives, fostering a positive relationship with residents.

4. Competition and Innovation

With the rise of online gaming and other entertainment options, the ownership of Hollywood Park Casino has pushed the company to innovate and stay competitive. This has led to the introduction of new gaming technologies, promotions, and events, ensuring that the casino remains relevant and appealing to its patrons.

Questions and Answers

1. Q: How has the ownership of Hollywood Park Casino changed over the years?

A: The ownership has undergone several changes since its inception. It started with a group of investors, moved to John E. Johnson, and eventually transitioned to Station Casinos.

2. Q: Who owns Station Casinos?

A: Station Casinos is owned by the Fertitta family, with Frank Fertitta III serving as CEO and Lorenzo Fertitta as President and COO.

3. Q: How has the Fertitta family influenced the casino's success?

A: The Fertitta family's passion for gaming and their strategic approach to business have driven Station Casinos' success. They have invested heavily in the property and have expanded the company's presence in various markets.

4. Q: What impact has the ownership had on the community?

A: The ownership has had a positive impact on the community, providing jobs, contributing to the local economy, and engaging in community programs.

5. Q: How has Hollywood Park Casino adapted to the competitive gaming landscape?

A: Hollywood Park Casino has adapted by investing in infrastructure, introducing new gaming technologies, and creating innovative promotions and events to remain competitive in the gaming industry.