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Hard Rock International is set to shell out a whopping $1.075 billion (£812,017,375) for the operating assets of The Mirage Hotel and Casino and will enter into a long-term lease for the property with VICI Properties, Inc. the company that owns the land the hotel is on.
Jim Allen, Chairman of Hard Rock International said: "We are honoured to welcome The Mirage's 3,500 team members to the Hard Rock family.
"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."
The acquisition is part of Hard Rock International’s plan to ‘build an iconic guitar-shaped hotel which will be located on the famous Las Vegas Strip’.
The hotel’s current tower will remain in place, according to Vital Vegas, with the giant guitar being built alongside the existing hotel.
An artist’s impression of how the site might look shows a huge, curved purple-coloured guitar switch six beams of light firing up into the sky to depict its strings.
The deal is set to close in the second half of next year, with MGM Resorts licensing the name The Mirage to Hard Rock for up to three years while it works on finalising plans to fully rebrand the hotel.
The Mirage first opened its doors more than three decades, with one Las Vegas historian saying it ‘set a template’ for the area and helped boost tourism.
Michael Green, an associate professor of history at University of Nevada, Las Vegas, told Today: "[The Mirage] set a template.
"The theme, the elegance, the special attractions... while the Mirage was not unique in having any of these ideas, it was unique at the time in putting them all together."
Saying a farewell to the building, MGM Resorts CEO and President Bill Hornbuckle said: "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.
"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."
Featured Image Credit: Hard Rock International
Topics: US News
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