It opened in November 1989, with a sidewalk-side volcano spewing fire years before gondoliers began plying canals at the Venetian and fountains started dancing at the Bellagio. The sale marks the end of an era for a Polynesian-themed property built by former casino mogul Steve Wynn and credited with helping transform Las Vegas from a gambling hub into an ultra-luxury resort destination with broader appeal. New York-based VICI owns properties and leases them back to hospitality and entertainment operators.

Hard Rock International also entered into a long-term lease agreement with VICI Properties Inc., a real estate investment trust that acquired MGM Resorts properties this year in a $17.2 billion deal with MGM Growth Properties, a publicly traded landowner of holdings in eight states. “The process … ultimately will dramatically reimagine every aspect of the resort and change the Las Vegas skyline with the addition of a guitar-shaped hotel tower,” the company promised. Costs have not been disclosed.ĭaily operations “are set to continue under The Mirage brand for the foreseeable future, and all room reservations and group bookings will be honored with no action required by guests or group organizers,” the company said. The Mirage redevelopment plan is projected to run through 2023. It bought licensing and naming rights in May 2020. Seminole-owned Hard Rock International had no previous involvement with the former Hard Rock Hotel & Casino that operated from 1995 to 2020. West of the Strip, an affiliate of the California-based San Manuel Band of Mission Indians owns and operates The Palms.

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