Schwartz said that with The Mirage, Wynn showed three significant things that shaped modern-day Las Vegas: a resort of its size, with 29 stories and more than 3,000 rooms, could be built all at once - something never previously done in Las Vegas how you could pay for it and sell Wall Street on it and that it’s something tourists wanted. The resort quickly established itself as one of the premier entertainment destinations thanks to offerings such as the illusions and white tiger-taming acts of Siegfried and Roy, a controversial dolphin habitat and an eye-catching volcano show on Las Vegas Boulevard. That helped bring in billions of new investments to Las Vegas, helping build the city into what much of what it is today. MGM later acquired the resort in May 2000 when it bought Wynn’s Mirage Resorts for $4.4 billion.Įven though the resort was built using so-called junk bonds, the resort paid them off faster than most and replaced them with low-interest, mainstream loans. It helped change the face of Las Vegas by bringing in a new era dominated by integrated megaresorts that went far beyond the casino floor - helping cement a blueprint that every other company would soon follow.
Originally developed by Steve Wynn on the former Castaways site, The Mirage opened its doors in November 1989. 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 firsthand how special it is, and what a great opportunity it presents to the Hard Rock team. “This transaction is a significant milestone for MGM Resorts, and for Las Vegas,” MGM President and CEO Bill Hornbuckle said in a statement Monday. The purchase is expected to close in the first half of 2022. Hard Rock, which is owned by the Seminole Tribe of Florida, said it will enter into a long-term lease agreement with VICI Properties, who announced a $17.2 billion deal in August to purchase The Mirage’s real estate from MGM Growth Properties. Jim Allen, chairman of Hard Rock International, said the company is “honored to welcome The Mirage’s 3,500 team members to the Hard Rock family.” “It really did move the city and its resorts ahead.” “The Mirage really is the model for pretty much everything that’s been built in Las Vegas since 1989,” Schwartz said, noting that it combined the theme elements of Caesars Palace with the large resort aspects of The International, now The Westgate. The fact that that brand is going away means quite a bit,” said David Schwartz, UNLV ombudsman and gaming historian. “The Mirage is the casino, more than any other one, that’s inspired what Las Vegas is right now.
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MGM Resorts said it will retain The Mirage name and brand, and will license it to Hard Rock for up to three years while it finalizes its plans to rebrand the property. A rendering of the property by Hard Rock also shows the resort with a new blue-and-white motif and “The Mirage” name at the top of the resort replaced with “Hard Rock.” The deal kicks off a rebranding for the resort - which first opened its doors in 1989 - as well as a change in the Las Vegas skyline.Īs the new operators, Hard Rock announced plans to build a guitar-shaped hotel on the 77-acre property and rename it Hard Rock Las Vegas, bringing the company’s signature hotel style to the Strip. Hard Rock will pay $1.075 billion in cash to acquire the operations of The Mirage in a deal that is expected to close in the second half of 2022, pending regulatory approvals and closing conditions. Baskow/Las Vegas Review-Journal) Mirage, the iconic Strip resort that helped usher in the modern era of ultra-luxury in Las Vegas, is being sold by MGM Resorts International to Hard Rock International, the companies announced Monday. Plexiglass is installed throughout many areas as the Mirage reopens following a COVID-19 shutdown on Thursday, Aug.
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