He noted that his company had no previous involvement with the former Hard Rock Hotel & Casino that operated from 1995 to 2020 east of the Las Vegas Strip. Jonathan Halkyard, MGM Resorts treasurer and chief financial officer, said that as the real estate owner of The Mirage, VICI will be expected to reach a new lease agreement with Hard Rock.Īllen said Hard Rock International will welcome The Mirage’s 3,500 employees to its roster. “The monetization of our entire real property portfolio, together with the addition of Cit圜enter and our agreement to acquire The Cosmopolitan of Las Vegas, will position the company with a fortress balance sheet, premier portfolio and significant financial resources to pursue our strategic objectives," he said.
Hard rock guitar hotel series#
“This announcement marks the culmination of a series of transformational transactions for MGM Resorts during the last several years,” said Paul Salem, Chairman of the MGM Resorts board of directors. The underlying Mirage real estate is now owned by MGM Growth Properties, which is being bought by New York-based VICI Properties in a $17.2 billion deal expected to close next year. What a day and experience of a lifetime! Congratulations to everyone on an amazing Grand Opening! Ready to Weather the Cold Weather Storm The same eye-catching design was incorporated in the Hard Rock Hotel and Casino resort in Hollywood, Florida and the hope is that it will become just as iconic, if not more so, in Las Vegas. He added: “When complete, Hard Rock Las Vegas will be a fully integrated resort welcoming meetings, groups, tourists and casino guests from around the world to its nearly 80-acre centre-Strip location.”Īn artist’s depiction of the proposed guitar-shaped tower shows a purple guitar with six light beams – denoting the strings – stretching skyward. The 3500 employees at the Mirage are expected to be kept on, with Hard Rock Chairman, Jim Allen, stating: "We are honoured to welcome The Mirage's 3,500 team members to the Hard Rock family.” He added: “I want to thank all of our Mirage employees who have consistently delivered world-class gaming and entertainment experiences to our guests for more than three decades.” “As part of the team that opened The Mirage in 1989, I know first-hand how special it is, and what a great opportunity it presents to the Hard Rock team,” said Bill Hornbuckle. MGM Resorts International CEO and President Bill Hornbuckle called the sale of Mirage operations as “a significant milestone for MGM Resorts and for Las Vegas.” Under the terms of the agreement, still to pass regulatory approval, MGM Resorts will keep The Mirage name and brand, licensing it to Hard Rock royalty-free for up to three years while it finalises its plans to rebrand the property as the Hard Rock Las Vegas. Hard Rock International, a company owned by the Seminole Tribe of Florida, will pay $1.08billion in a cash deal for the resort. Original owner Steve Wynn then sold it to MGM in 2000 for $6.4billion, which included $2 billion in debt.ĭespite its amazing history as a poker venue, MGM Resorts downgraded its poker offerings over the years and the once great cardroom finally disappeared last year, replaced by slot machines following the coronavirus shutdown. The currently MGM Resorts-owned Mirage was the most expensive casino resort in Vegas when it opened its doors in 1989, costing $620million and boasting 3000 hotel rooms. The new owners, themselves part of the Seminole tribe of Florida operations, plan to replace the volcano with a giant guitar-shaped tower. The volcano in front of the iconic Mirage hotel on the Las Vegas strip is set to explode no more after the resort was sold to Hard Rock International for almost $1.1billion.
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