The Hard Rock Hotel buys the Mirage for $ 1.075 billion

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The owners of the Hard Rock International brand plan to create a rock and roll-themed casino on the Las Vegas Strip. Hard Rock has agreed to buy the Mirage operations from MGM Resorts International for $ 1.075 million. The Hard Rock plans to build a huge guitar-shaped hotel on the Strip and lease the land under the Mirage to VICI Properties Inc.

But for the first three years, MGM Resorts plans to assign the Mirage name to Hard Rock royalty-free. The Hard Rock also intends to keep the 3,500 employees on board.

Prior to 2020, Hard Rock International was not involved with the Hard Rock Hotel, the off-Strip casino that reopened as Virgin Hotels in April. Hard Rock International purchased the licensing and naming rights for the Hard Rock Hotel in May 2020 and has promised to bring the iconic brand to the Las Vegas Strip when the right opportunity presents itself.

MGM Resorts has already said it is ready to sell the Mirage earlier this year. The Mirage, the northernmost casino operated by MGM Resorts on the Strip, was one of the last to reopen after the state shut down all non-essential businesses in March 2020 to slow the spread of COVID-19.

The Mirage itself is undergoing a transformation, with restaurants such as Pantry still not open 24 hours a day, Tom Colicchio’s Heritage Steak, Italian restaurant Costa, Diablo’s Cantina, Japanese Otoro Robata Grill & Sushi and Stack, which once attracted celebrities on weekends. to pack old Jet and 1 OAK nightclubs. Rhumbar also closed last summer to make way for a new ultra lounge.

The Mirage opened in 1989 as the first new property on the Las Vegas Strip in 16 years. The former site of the Castaways has become Las Vegas’ first mega-resort with over 3,000 rooms and a South Pacific theme. In 2000, MGM Resorts took over ownership of the resort.

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