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HOLLYWOOD, Fla., J/PRNewswire/ - Hard Rock International is commemorating its historic 50 th anniversary year celebrating five decades of music, fun, good food and one-of-a-kind experiences at its 253 locations of Hotels, Casinos, Rock Shops®, Live Performance Venues and Cafes.
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That’s a realm in which several tribal operators can afford to play.As Hard Rock Cafe concludes its 50 th anniversary year, locations from London to Daytona are celebrating this key milestone It’s widely believed that Caesars Entertainment is inching closer to selling one of its Las Vegas casino-hotels, and it’s aiming for a price tag of at least $1 billion. There’s also speculation that as other Strip assets come up for sale, tribal gaming entities could be contenders for those venues, owing to their strong cash positions. However, of those three venues, only Mirage is on the Strip, making Hard Rock the first tribal operator to gain entry to the most famous stretch of casino real estate in the world. sold the Palms Casino Resort to the San Manuel Band of Mission Indians of California for $650 million. Mohegan Gaming & Entertainment runs the gaming operations at Virgin Hotels Las Vegas, and earlier this year, Red Rock Resorts, Inc. Hard Rock’s Las Vegas entry increases the presence of tribal operators in the largest domestic casino center. and Hard Rock is entering into a lease agreement with the gaming landlord. VICI Properties owns Mirage’s real estate.
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The aforementioned statement doesn’t mention when construction on Mirage will commence, or for how long the venue could be closed while it’s undergoing enhancements. But the venue will ultimately be renamed Hard Rock Las Vegas. MGM is retaining rights to the Mirage name, licensing it to Hard Rock for three years up to the official name change. Since then, some plans emerged for the venue, including the likely removal of the Mirage’s iconic faux volcano and the tribal operator’s intent to refurbish the venue in the shape of a guitar, which is a signature of many of its properties. At that time, the companies said the transaction is scheduled to close in the second half of 2022. Last December, MGM Resorts International announced the sale of the Mirage’s operating rights to Hard Rock for $1.075 billion. Looking ahead, Hard Rock also recently announced property expansion in Las Vegas, set to open in 2025, and Athens in 2026,” according to the statement.Ī request for comment from Hard Rock was not returned prior to publication of this article. Power 2022 North America Guest Satisfaction Study, Hard Rock International - the gaming arm of the Seminole Tribe - mentioned new ventures, including Las Vegas. In a statement issued earlier this week highlighting its second consecutive year atop the J.D. Hard Rock International could temporarily close the venue.
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The Mirage could be slated for an extended, though temporary, closure as it transitions to becoming a Hard Rock casino-resort. Financial, Gaming Business, Mergers and Acquisitions.