Hard Rock International (HRI) announced that it has entered into an agreement to acquire the operations of the Mirage Hotel and Casino in Las Vegas from its current owner, MGM Resorts International.
In place of The Mirage’s Y-shaped hotel, which has been a fixture on the Strip for over 30 years, Hard Rock is planning to build an iconic guitar-shaped hotel.
ADVERTISING
Trendy right now
HRI said it will purchase The Mirage Hotel and Casino’s facilities for $ 1.075 billion in cash, subject to customary working capital adjustments. The music-oriented hotel and entertainment brand also announced that it will sign a long-term lease with real estate investment trust company VICI Properties for the property on which The Mirage is currently located.
“We are honored to welcome the 3,500 team members at The Mirage to the Hard Rock family,” said Jim Allen, chairman of HRI. “When completed, Hard Rock Las Vegas will be a fully integrated resort that will welcome meetings, groups, tourists, and casino guests from around the world to its 150-acre downtown location.”
Before last year, Hard Rock International was not involved in the previous iteration of the Hard Rock Hotel & Casino in Las Vegas and didn’t acquire the licensing and naming rights until May 2020.
The old Hard Rock Hotel & Casino Las Vegas, located right on the Strip on Harmon Avenue, operated for 25 years before finally closing in June 2020. Even then, HRI promised to bring its iconic brand back to the Las Vegas Strip when the right opportunity arose.
