Hard Rock International has announced that it has agreed to purchase The Mirage Hotel and Casino in Las Vegas from owner MGM Resorts International in a straight cash deal worth $1.075 billion (€956.7 million).
The deal is subject to the usual regulatory approvals and will see Hard Rock enter into a long-term lease agreement with CICO Properties Inc. which owns the land The Mirage is located on. Once the deal goes through, Hard Rock has revealed that it plans to build a guitar-shaped hotel on the strip.
Speaking following the announcement, Jim Allen, Chairman of Hard Rock International said:
“We are honored 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 center-Strip location.”
Hard Rock International secured the naming rights for the Hard Rock Hotel & Casino in May of 2020 and at the time made it clear that it intended to establish a hotel and casino on the strip. The previous Hard Rock Hotel & Casino, which is now operating as Virgin Hotels Las Vegas, had no connection with Hard Rock International.