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MGM Resorts to sell Mirage hotel and casino for $1.08 billion to Hard Rock -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is the logo for the Mirage Casino & Resort, which can be found on Las Vegas Strip (Nevada, USA) February 26, 2018. Photo taken on February 26, 2018. REUTERS/Darrin Zammit Lupi

(Reuters] -MGM Resorts International stated Monday that the Mirage Las Vegas casino and hotel would be sold to Hard Rock International. The sale is expected to bring in $1.08 trillion in cash.

MGM Resorts (NYSE 🙂 acquired The Mirage in 2000. This property is famous for its entertainment opportunities and the volcano that sits 90 feet Strip-side.

MGM Resorts expects to close the deal in the second quarter of 2022. The net cash proceeds from this sale will likely be approximately $815million after taxes and fees.

While the company finalizes plans for rebranding the property, it will continue to retain Mirage’s name and brand.

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