ShareThe 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. The new owners, themselves part of the Seminole tribe of Florida operations, plan to replace the volcano with a giant guitar-shaped tower.
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. Original owner Steve Wynn then sold it to MGM in 2000 for $6.4billion, which included $2 billion in debt.
Despite 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.
Hard Rock International, a company owned by the Seminole Tribe of Florida, will pay $1.08billion in a cash deal for the resort.
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.
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.”
“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.
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.”
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: “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.”
An artist’s depiction of the proposed guitar-shaped tower shows a purple guitar with six light beams – denoting the strings – stretching skyward.
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.
What a day and experience of a lifetime! Congratulations to everyone @HardRockHolly on an amazing Grand Opening! pic.twitter.com/UEZpBeJCTx
— Tony Burns (@MDTonyB) October 25, 2019
