The Real History Behind Caesars Palace and BetMGM

Caesars Palace opened on the Las Vegas Strip on August 5, 1966, while BetMGM launched as a joint venture between MGM Resorts International and Entain on July 30, 2018 — more than 50 years apart. Both names now power two of the biggest online casino brands in the US, but their real-world roots go back to very different eras of Las Vegas history.

Key Takeaways:

• Caesars Palace was built by Jay Sarno and Stanley Mallin, opening on the Las Vegas Strip on August 5, 1966 at a cost of $24 million.
• Caesars Palace was the first themed megaresort on the Strip, pioneering the Roman-empire aesthetic that later Las Vegas casinos widely copied.
• MGM Resorts International traces its lineage to Kirk Kerkorian's 1969 International Hotel and his 1973 launch of the MGM Grand brand.
• BetMGM launched in 2018 as a 50/50 joint venture between MGM Resorts International and Entain (then GVC Holdings), timed to the US Supreme Court's repeal of PASPA that same year.
• Both Caesars Palace Online Casino and BetMGM Casino let players earn real-world loyalty points redeemable at their physical Las Vegas properties.

Caesars Palace: From Roman Fantasy to Online Casino

Caesars Palace was the vision of Jay Sarno, an Atlanta motel developer, and his business partner Stanley Mallin. Backed by a $10.6 million loan from the Teamsters union, they opened the property on August 5, 1966 at a cost of $24 million — an enormous sum for the era.

Sarno's idea — an ancient Roman-themed resort in the middle of the Nevada desert — was unlike anything on the Strip at the time. Caesars Palace introduced themed architecture, imported Italian sculpture, split-level suites, and toga-wearing cocktail waitresses, permanently changing what a Las Vegas casino resort could look like.

The corporate history behind the name is more complicated than the building itself. Harrah's Entertainment acquired the original Caesars Entertainment, Inc. in 2005, and in 2020, Eldorado Resorts acquired the company and took on the Caesars Entertainment name — meaning today's Caesars Entertainment is technically the former Eldorado, wearing the Caesars name it acquired.

Caesars Palace Online Casino, the regulated digital product, carries that legacy forward through its Caesars Rewards loyalty program, which is redeemable at the physical Caesars Palace and dozens of other Caesars properties nationwide — a real, tangible link between a 1966 casino floor and a 2026 mobile app.

MGM Resorts and the Rise of BetMGM

MGM Resorts International's roots trace back to Kirk Kerkorian, often called the "father of the megaresort," who opened the original International Hotel in Las Vegas in 1969 after acquiring the film studio Metro-Goldwyn-Mayer. He launched the MGM Grand brand in 1973, fusing Hollywood glamour with large-scale Las Vegas tourism.

The company took its modern corporate form gradually — renamed MGM Mirage in 2000 after acquiring Mirage Resorts, then rebranded MGM Resorts International in 2010.

BetMGM itself is a much newer creation. It launched on July 30, 2018, as a 50/50 joint venture between MGM Resorts International and Entain (then known as GVC Holdings), timed deliberately to the US Supreme Court's repeal of PASPA that same year, which opened the door to legal sports betting nationwide. MGM brought its brand recognition and physical casino network; Entain brought its online gaming technology platform.

BetMGM Casino's loyalty program, M life Rewards, ties directly into MGM's physical resorts — including MGM Grand Las Vegas and Borgata in Atlantic City — letting online play earn perks usable at real casino floors.

The Cultural Legacy Behind the Brand Names

Caesars Palace's opening night in 1966 reportedly drew 1,800 guests and a then-astonishing amount of press coverage, and the property became a fixture of Las Vegas pop culture for decades afterward, appearing in films, hosting championship boxing matches, and setting the template other Strip resorts would copy through the 1970s and 1980s.

MGM's cultural footprint runs just as deep, though through a different channel — the MGM Grand name is inherited from the Metro-Goldwyn-Mayer film studio that Kirk Kerkorian acquired in 1969, tying the casino brand to one of Hollywood's most recognizable logos rather than to an ancient-world theme.

Two Different Paths to the Same Online Casino Era

Caesars Palace's story starts with a single, audacious 1966 building; BetMGM's starts with a 2018 corporate partnership between two already-massive companies.

What they share is a strategy: use decades of built-up land-based brand equity and physical loyalty programs to give a regulated online casino product something a pure-tech startup can't easily replicate — a real building players can walk into.

Both operators are licensed and regulated. Always play within your means. For support with problem gambling, contact the National Council on Problem Gambling at ncpgambling.org or call 1-800-GAMBLER.

Frequently Asked Questions

When did Caesars Palace open?

Caesars Palace opened on the Las Vegas Strip on August 5, 1966, built by Jay Sarno and Stanley Mallin at a cost of $24 million.

Who founded MGM Resorts International?

MGM Resorts traces its lineage to Kirk Kerkorian, who acquired the Metro-Goldwyn-Mayer film studio in 1969 and opened the original International Hotel that same year, later launching the MGM Grand brand in 1973.

When did BetMGM launch?

BetMGM launched on July 30, 2018, as a 50/50 joint venture between MGM Resorts International and Entain, timed to the US Supreme Court's repeal of PASPA that same year.

Is Caesars Entertainment the same company that owned Caesars Palace in 1966?

Not exactly. The corporate ownership has changed hands several times — Harrah's Entertainment acquired the original Caesars Entertainment, Inc. in 2005, and in 2020 Eldorado Resorts acquired the company and adopted the Caesars Entertainment name.

Do Caesars Palace Online Casino and BetMGM Casino connect to physical loyalty programs?

Yes. Caesars Rewards and M life Rewards both let players earn points through online play that are redeemable at physical Caesars and MGM properties nationwide, including in Las Vegas.

Why did MGM Resorts partner with Entain instead of building BetMGM alone?

MGM brought brand recognition and a physical casino network but lacked a mature online gaming technology platform; Entain (then GVC Holdings) already had that expertise, making the 50/50 joint venture faster to market than building in-house.

Read our full Caesars Palace Online Casino review and BetMGM Casino review for current bonuses and game libraries, or compare them directly in our Caesars vs BetMGM comparison.