The casinos are interesting use cases because I assume the casino operators (e.g. MGM, Wynn, Melco) operate the hotels that are directly above their casinos, and in the case of Mandalay Bay, I think MGM operates whateverr THEHoltel is now called as well. When they bring in other flags (like Four Seasons), I wonder how hands-on they are. Here in Asia, owners often like to insert their noses into operations a lot. For example, I used to do some consulting work directly for the owner of the Westin Shanghai. He had a team of about 15 people that were onsight most of the time overseeing management and coming up with "suggestions" of their own. The Starwood (this was pre Marriott) people didn't seem to appreciate their presence a great deal.