The transition from mob to corporate control of Las Vegas wasn't a single event but a fifteen-year process involving regulatory reform, federal prosecutions, and the attraction of legitimate capital. By 1985, the transformation was largely complete.

The Regulatory Framework

The Corporate Gaming Act of 1969 made corporate ownership practical by eliminating the requirement that every shareholder be individually licensed. This opened the door for publicly traded companies and their institutional investors.

The Federal Assault

The FBI's BRILAB and Strawman investigations documented mob control with unprecedented detail. Wiretaps captured bosses discussing skims, murders, and corruption. The resulting prosecutions sent dozens of mob figures to prison.

The New Operators

Kirk Kerkorian, Steve Wynn, and other corporate operators brought different skills: capital raising, brand building, entertainment programming. They competed on amenities and marketing rather than mob connections and muscle.

The Definitive End

The Spilotro murders in 1986 and the final Stardust license revocation marked the definitive end. A few mob associates lingered in peripheral positions, but control of the Strip had passed permanently to publicly traded corporations.