He added: “The monetization of our entire real property portfolio, together with the addition of Cit圜enter and our agreement to acquire The Cosmopolitan of Las Vegas, will position the company with a fortress balance sheet, premier portfolio and significant financial resources to pursue our strategic objectives."
#SAMICK GUITAR MIRAGE JHJCN SERIES#
“This announcement marks the culmination of a series of transformational transactions for MGM Resorts during the last several years,” said Paul Salem, Chairman of the MGM Resorts board of directors. The underlying Mirage real estate is now owned by MGM Growth Properties, which is being bought by New York-based VICI Properties in a $17.2 billion deal expected to close next year. When the Connecticut-based Mohegan Tribe opened a casino at the new Virgin Hotels Las Vegas earlier this year, it became the first tribe to operate a Las Vegas casino.Īnd gaming regulators are expected this week to issue a decision on the San Manuel Band of Mission Indians' bid to acquire the off-strip hotel-casino, The Palms. It wasn’t immediately clear if the volcano will remain at the property, which MGM Resorts acquired in 2000.Īs traditional gambling industry players shift their business focus to sports betting and expand in markets in Asia and the Middle East, the sale reflects the growing presence of tribal-run enterprises on the Strip. It was known as a venue where tourists could see Siegfried and Roy taming white tigers or a Cirque du Soleil act set to a Beatles soundtrack. Its iconic volcano fountain was among Las Vegas’s first strip-side attractions, pre-dating the Venetian’s canals and the Bellagio’s fountains. The Mirage, developed by former casino mogul Steve Wynn, opened with a Polynesian theme more than three decades ago. The sale marks the end of an era for a property credited with helping transform Las Vegas from a gambling hub into an ultra-luxury resort destination with broader appeal.
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