'This transaction is a significant milestone for MGM Resorts, and for Las Vegas,' Bill Hornbuckle, CEO & president of MGM Resorts International, said in the MGM statement. VICI Properties will lease the land back to Hard Rock in a long-term agreement. While MGM International owned the operations of The Mirage, the land the resort sits on was purchased by VICI Properties for $17.2 billion in August as part of a deal expected to close in the first part of 2022, according to the Las Vegas Review-Journal. Not to mention the white tigers.īy signing up, you will receive newsletters and promotional content and agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. At the time, it was the largest hotel in the world and brought a new sense of luxury, complete with shopping, more dining options than ever before and family-friendly attractions, such as its famous erupting volcano, to the Strip. The Mirage, a megaresort and the first of its kind in Las Vegas, ushered in a new era for the city. '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 center-Strip location.' 'We are honored to welcome The Mirage's 3,500 team members to the Hard Rock family,' Jim Allen, chairman of Hard Rock International, said in a statement from the company.

MGM will keep The Mirage name and brand but license it back to Hard Rock for up to three years while the new owners work out a final plan for the redevelopment. The Mirage logos on the original towers will be replaced with Hard Rock branding, as shown in renderings released by the company. Along with the new name, the resort will also get a new look, including a massive guitar-shaped structure similar to other Hard Rock buildings around the world. With the change of ownership, The Mirage will rebrand as Hard Rock Las Vegas. Las Vegas-based gaming giant MGM Resorts will sell The Mirage to Hard Rock International in a $1.075 billion cash deal expected to close in the second half of 2022, according to a statement released by MGM.įor more TPG news delivered each morning to your inbox, sign up for our daily newsletter. It's official: The Mirage, the iconic 77-acre resort in the heart of the Strip that changed Las Vegas forever when it opened its doors in 1989, has a buyer.

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