The leading globally recognized entertainment and hospitality company, Hard Rock International (HRI), made an important step toward acquiring the iconic hotel and casino The Mirage from MGM Resorts International earlier this week. This happened after the Nevada Gaming Control Board (NGCB), the regulator in the state, issued a recommendation for the acquisition of the property. Shortly after, HRI dismissed local reports claiming it plans to cease the operation of The Mirage.
HRI Dismisses Claims The Mirage Will Close
In a deal for a whopping $1.08 billion, HRI bought The Mirage from MGM Resorts. The initial deal dates back to December last year. However, earlier this week, the NGCB recommended the Nevada Gaming Commission to approve Hard Rock’s licensing and the acquisition of The Mirage.
This marked an important step forward for Hard Rock. Still, the acquisition will likely close by the end of the year, after a meeting set for December 22 when the Nevada Gaming Commission is expected to grant final approval sealing the billion-dollar acquisition deal.
With plans to acquire The Mirage, HRI unveiled details regarding an overhaul of the venue. Still, in a statement released on Thursday, Hard Rock explained that it doesn’t have plans to close The Mirage at this time. The leading operator explained that the redevelopment of the venue may be initiated late in 2023 or in 2024.
“There are no current plans to cease operation of The Mirage and any reporting to the contrary is inaccurate. Yesterday, the Nevada Gaming Control Board unanimously recommended to the Nevada Gaming Commission that it approve Hard Rock International’s licensure and acquisition of The Mirage Hotel and Casino,“
reads a statement released by Hard Rock International
The Company Plans Revamping of the Property
HRI reminded that during a meeting on December 7 with the NGCB, the company’s Chairman, James Allen confirmed that at the current moment, the company doesn’t plan to close the property. With that in mind, Allen did not rule out the option of a temporary closure at some point in mid-2024.
“We do not have definitive plans to close the property at this time, but for full transparency, that could be an option a year and a half down the road.“
James Allen, chairman of Hard Rock International
Upon closing the deal and the start of the expansion and revamping of The Mirage, HRI is planning to create a new iconic venue. The company plans to increase the number of slots from 800 to 2,000 and also increase the table games from 51 to 212. Still, Hard Rock acknowledged that further details regarding the transformation of the resort can be expected late next year.