The Nevada Gaming Control Board (NGCB) has accepted Hard Rock International’s request to buy The Mirage for $1.08 billion. But, the Nevada Gaming Commission will have the final say.
The NGCB’s recommendation is a huge step in the acquisition process. The gaming operator plans to run The Mirage for a year before demolishing it to construct a Las Vegas-style casino in 24 to 30 months.
The Mirage’s Demolition
The NGCB met with Jim Allen, Hard Rock International President and CEO, on Wednesday. He briefly explained the casino’s Mirage project.
The executive stated that they will strip down The Mirage to its shell, reconfiguring surrounding spaces such as outside grounds and pool areas in the 77-acre venue. The redesigned property will increase the number of suites and rooms from 3,044 to 3,640. Besides, its size will increase from 94,000 to 174,000 square feet to offer an extra 161 table games and 1,164 slot machines.
The gaming property’s convention space will increase from 50,000 to 85,000 square feet. Its redeveloped resort will have a Hard Rock Live entertainment venue and 21 restaurants.
Allen revealed that a guitar-shaped tower placed at the front along the Las Vegas Strip will be one of the remodeled casino’s new features. Its addition indicates that the company will replace the faux volcano. Also, it will close two attractions to the public and eliminate them, including Dolphin Habitat and the Secret Garden.
MGM and Hard Rock Partner for the Transition
Allen stated that MGM and Hard Rock will collaborate to smoothly transition all employees, even though the latter will take over the property in a few days. They intend to provide them with the same or better benefits.
He added that they will keep all the 3,600 workers as they run the property next year. Some people had asked if Hard Rock would retain Mirage employees or if it would lay them off immediately.
Allen clarified that he doesn’t want to confuse anyone, but they will keenly monitor the new property’s construction process. He hinted that they intend to run The Mirage for 18 months before they tear it down.
Hard Rock International started receiving “key positions” applications in the information technology, finance, and human resources departments on its websites. Still, it stated that it will call specific applicants to attend its invitation-only events soon.
The Mirage’s New Acquisition
Steve Wynn built The Mirage in 1989, and it was one of the Vegas Strip’s huge resorts. Also, it was Siegfried and Roy’s home for 14 years. It hosted many famous boxing bouts in the late 1980s and early 1990s, like Sugar Ray Leonard and Roberto Duran’s third bout.
Hard Rock disclosed a year ago that it had agreed with MGM Resorts International to buy The Mirage. The company would pay $1.075 billion for all operations and sign a lease agreement with VICI Properties to lease its real estate assets for $90 million annually.
The gaming operator won the October 2022 Top Land-Based Operator of the Year award in the Global Gaming Awards held in Vegas. It finished second in the Responsible Business of the Year category and third in the LATAM and Caribbean of the Year.
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