New guitar- shaped hotel planned in Vegas
Seminoles and Hard Rock buy The Mirage on the Strip
HOLLYWOOD — A new guitar- shaped hotel will be built more than 2,500 miles from Hard Rock International’s first one in Hollywood.
The company, owned by the Seminole Tribe, agreed to buy the Mirage Hotel and Casino on the Las Vegas Strip from MGM Resorts International.
The Seminole Hard Rock Hotel & Casino in Hollywood is one of several casinos the company owns and operates in Florida. Its first guitar- shaped hotel rises 450 feet and is an iconic landmark visible from miles away.
The Florida- based company said it will buy the Vegas property for $ 1.075 billion in cash, pending regulatory approval and closing conditions, and will sign a longterm lease with VICI Properties Inc. for the hotel and casino known for its volcano that erupts each evening 60- feet into the air and its atrium and aquarium.
“We are honored to welcome The Mirage’s 3,500 team members to the Hard Rock family,” Jim Allen, chairman of Hard Rock International, said in a prepared statement. “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.”
The deal will allow Hard Rock International to license The Mirage name and brand royalty- free for three years, according to a news release from MGM.
“This is exciting news, and the Tribe is very much looking forward to the opportunity,” said Gary Bitner, a spokesman for the Seminole Tribe.
The deal is expected to be finalized in the second half of 2022, and MGM said it anticipates to profit about $ 815 million from the sale after taxes and fees.