It was recently announced that MGM Resorts sold the iconic Mirage Resort to Hard Rock International (The Seminole Tribe of Florida) for $1.07 Billion. The ink wasn’t even dry on the press release before the new owners let it be known that they plan to demolish the volcano and replace it with a 30 story tall guitar-shaped hotel.
With that news and no set timeline announced on when the volcano will go away, other than “soon”, I figured I needed to go see it one last time. As always, it did not disappoint and the crowds loved it.
In replacing the popular volcano with a neon-lit hotel tower (??), I believe Hard Rock International is making a HUGE mistake in its marketing plans. Looking at what they already have stated about their plans for the resort, this is one of many more blunders to come. Dooming their chances of success in Las Vegas. But that is the subject of another Vlog!
In December, MGM Resorts announced that they had sold The Mirage to Hard Rock International in a $1.075 billion cash deal that is expected to close in the second half of 2022, according to a statement released by MGM.
MGM will retain 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 resort’s redevelopment.
With this change of ownership, The Mirage will rebrand as Hard Rock Las Vegas. Not only will the property get a 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. The Mirage logos on the original towers will be replaced with Hard Rock branding, as shown in renderings released by the company.
MGM International owned the operations of The Mirage, the land the resort sits on was purchased, along with other MGM properties by VICI Properties for $17.2 billion in August. VICI Properties will lease the land back to Hard Rock in a long-term agreement.
It Changed Vegas
The Mirage was built by casino mogul Steve Wynn. It opened in 1989 as the first “Mega Resort” and changed Las Vegas forever. In 2000, MGM Resorts bought Mirage Resorts (The Mirage Resort’s parent company) for $4.4 billion from Steve Wynn.
From the very beginning, the volcano has been a traffic stopper as well a “Must See” Vegas attraction. Like the Bellagio Fountains, also created by Steve Wynn, the volcano has found its way into movies, video games, and marketing campaigns for Las Vegas.
The Mirage volcano will certainly be missed!