I can honestly say that I did not see this one coming. We knew one day soon the Hard Rock brand would find its place on the Strip. But I did not see them acquiring the Mirage.
Florida’s Seminole tribe, the people who now own the Hard Rock brand, announced yesterday that they are buying the Mirage from MGM Resorts for $1.08 billion. With another $1.5 billion for massive remodeling.
Their plans announced for the property so far include keeping the main tower, removing the iconic volcano (!!). And building a guitar-shaped tower in its place (??).
According to Jim Allen, Chairman of Hard Rock International, 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.”
The sale includes the use of the Mirage brand for three years royalty-free to help in the transition. Hard Rock will also pay rent to MGM Growth Properties, a real estate investment trust that owns the Mirage land. According to the press release, the sale should close in the second half of next year.
The Hard Rock brand is now owned by Florida’s Seminole tribe. The original Hard Rock Las Vegas was located off the Strip. It opened in 1995 and closed in 2020 and is now owned by Virgin Hotels.
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