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MGM Resorts is selling The Mirage Hotel and Casino to Hard Rock International for $1.075 billion in cash.
The hospitality and entertainment brand said Monday night that it will enter into a long-term lease agreement with VICI Properties Inc. for the real estate property of the hotel.
Much attention was focused on who would buy the iconic Mirage, one of the staples of the MGM porfolio.
Hard Rock plans to build an iconic guitar-shaped hotel, which will be located on the Las Vegas Strip.
The sales follows Las Vegas Sands’ move earlier this year to sell its Venetian Resort Las Vegas and the Sands Expo and Convention Center to investment firm Apollo Global Management for $6.25 billion.
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