MGM Resorts International has plans to sell its The Mirage hotel to Hard Rock International for $1.075 billion.
The new owner has plans to renovate and rebrand the 77-acre property, building a guitar-shaped hotel and renaming it Hard Rock Las Vegas. 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.
In a separate deal, Hard Rock will enter into a long-term lease agreement for the real estate property with VICI Properties, Inc.
Originally developed by Steve Wynn, The Mirage opened its doors in November 1989. It was one of the first megaresorts in the city.
The transaction is expected to be complete in the latter half of 2022.
Prior to 2020, Hard Rock International had no previous involvement with the Hard Rock Hotel & Casino in Las Vegas. HRI purchased the licensing and naming rights for Hard Rock Hotel & Casino Las Vegas in M