Hard Rock International Purchases Operations of The Mirage
Hard Rock International has reached a deal to acquire the operation of The Mirage Hotel and Casino in Las Vegas from MGM Resorts International.
The deal is subject to regulatory approvals and various other standard closing conditions. However, assuming all goes ahead as planned, Hard Rock intends to build a guitar-shaped hotel on the famous Strip.
Hard Rock has agreed to pay $1.075 billion in cash for the operating assets of The Mirage. The company will enter into a long-term lease agreement with VICI Properties for the real estate property of The Mirage.
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.
Prior to 2020, HRI had no involvement with the Hard Rock Hotel and Casino Las Vegas. The company then acquired the licensing and naming rights for the Hard Rock Hotel and Casino Las Vegas in May 2020 and promised that it would be bringing the brand to the Strip as soon as possible.
Hard Rock International has venues in 67 countries across 249 locations that include owned/licensed or managed hotels, casinos, rock shops, live performance venues, and cafes. In 2020, the company launched a joint venture called Hard Rock Digital, which is an online sportsbook, retail sportsbook, and online gaming platform company.
Hard Rock is the owner of an immensely valuable collection of music memorabilia consisting of more than 86,000 items. These items are displayed at their venues around the world. The company also has a guitar-shaped hotel in Florida that once won Property of the Year at the Global Gaming Awards.