Hard Rock pays $1.08 billion for MGM's Mirage resort in Vegas
The billion-dollar acquisition of Mirage Hotel & Casino in Las Vegas represents a major expansion for the Hard Rock brand, which is owned by Florida’s Seminole tribe.
www.latimes.com
Hard Rock pays $1.08 billion for MGM’s Mirage resort in Vegas
With the Las Vegas Hard Rock Hotel and Casino now owned by Virgin Hotels, its owner has been looking for a new footprint on the Strip, and now will have one in the Mirage.
(Lawrence K. Ho / Los Angeles Times)
BY CHRISTOPHER PALMERI
BLOOMBERG
DEC. 13, 2021 5:18 PM PT
Hard Rock International is buying the Mirage Hotel & Casino from MGM Resorts International for $1.08 billion, giving the Florida-based casino chain a prominent place on the Las Vegas Strip.
Hard Rock will lease the Mirage name royalty-free for three years. MGM expects to net $815 million after taxes and fees from the sale, which is expected to close in the second half of next year, according to a statement Monday.
The deal represents a major expansion for the Hard Rock brand, which is owned by Florida’s Seminole tribe. There was a Hard Rock casino located off the Strip for a number of years that is now owned by Virgin Hotels. The company has been looking for a casino on the Strip, the center of Las Vegas nightlife, for a while.
