Hard Rock Completes Acquisition of Mirage Hotel & Casino for $1.075 Billion

Hard Rock Mirage

LAS VEGAS, NV – Hard Rock International (HRI), the gaming arm of the Seminole Tribe of Florida, has received regulatory approval from the Nevada Gaming Commission for its acquisition of The Mirage Hotel & Casino from MGM Resorts International. HRI assumed operations control of the property as of Monday, Dec. 19. Under terms of the transaction, HRI paid $1.075 billion in cash for the operating assets of The Mirage Hotel & Casino and entered into a long-term lease agreement with VICI Properties Inc. for the real estate property of The Mirage. The purchase makes HRI the first tribal operator with a presence on the Las Vegas Strip.

The 3,044-room casino resort will continue to operate as The Mirage Hotel & Casino until the renovation and rebranding of the property to the Hard Rock Hotel & Casino Las Vegas is complete. The process is anticipated to take an extended period, but will dramatically re-imagine every aspect of the resort and change the Las Vegas skyline with the addition of a guitar-shaped hotel tower adjacent to Las Vegas Blvd.

Hard Rock The Mirage

“Today, we’d like to officially welcome the 3,500 team members at The Mirage to the 45,000 global Hard Rock family and express our gratitude to the Nevada Gaming Control Board and the Nevada Gaming Commission for approving the gaming license for us to operate The Mirage Hotel & Casino,” said Jim Allen, Hard Rock International Chairman and Seminole Gaming CEO. “We are excited to create an integrated resort on the strip that will make this legendary entertainment community proud.”

Daily operations of the famed Las Vegas resort 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 Mirage will continue to offer entertainment and dining options, including Cirque Du Soleil’s The Beatles™ LOVE™ through 2023. There are no plans to close The Mirage or to lay off any of the team members.

Casino players and guests will now utilize Unity™ by Hard Rock, a loyalty program that will enable patrons to earn and redeem rewards at participating Hard Rock hotels, cafes, and casinos around the world.

Prior to 2020, Hard Rock International had no previous operational involvement with the former Hard Rock Hotel & Casino in Las Vegas at the off-strip location. HRI purchased the licensing and naming rights for Hard Rock Hotel & Casino Las Vegas in May 2020 and planned to bring the iconic brand to the Las Vegas Strip when the right opportunity presented itself.

Hard Rock expects to release details of the rebranded and re-imagined resort, its new features and attractions, and development timeline at the end of 2023. Barclays served as financial advisor to Hard Rock International in connection with the transaction, and Jones Day served as legal advisor to Hard Rock International together with Fox Rothschild LLP and McDonald Carano LLP as special gaming counsel.