Stockbridge, in addition to owning the casino, is also the land developer for the former racetrack site and a joint partner in the NFL stadium. The current owners are Stockbridge Capital Group, a San Francisco-based land developer which purchased both the casino and racetrack in 2005 for nearly $260 million. It was the first building of the complex to be constructed and opened. The casino is part of the Hollywood Park development which also features SoFi Stadium, home to the Los Angeles Rams and Los Angeles Chargers of the National Football League and will later include multiple housing, business parks, luxury hotels, a movie theatre, and an open-air shopping center. The racetrack was sold and shut down in December 2013 though the casino operations continued while the current casino building opened in October 2016.

Afterwards the casino went through a series of owners including Churchill Downs. The original casino owners were the Hollywood Park Operating Co., which also owned the race track.

In 1994, a casino called the Hollywood Park Casino, with a poker card room, was added to the Hollywood Park Racetrack complex.