Home Stock Markets Iconic Las Vegas Strip Resort Casino Likely to Shut Down

Iconic Las Vegas Strip Resort Casino Likely to Shut Down

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Iconic Las Vegas Strip Resort Casino Likely to Shut Down

A long list of iconic (and not-so-iconic) names has come and gone on the Las Vegas Strip.

The current lineup of Caesars Entertainment (CZR) – Get Caesars Entertainment Inc. Report and MGM Resorts International (MGM) – Get the MGM Resorts International report Casinos are relatively stable, which is not always the case on the Strip and the Greater Las Vegas area.

In recent years, Hard Rock and even WWE Casino have gone (really) without much ceremony, but that’s hard to compare to the list of names that once reigned supreme and have since imploded (in most cases). The Dunes met that fate in 1993, while Sands made way for the Venetian on the Las Vegas Strip, a once estate turned into a circus-circus.

What was once Aladdin is now where Caesars Planet Hollywood sits on the Las Vegas Strip, and the burned-out El Rancho will finally be the long-awaited Fontainebleau resort. Additionally, Boardwalk and Stardust — big names at the time — were razed to make way for something new.

Now, a storied casino name will be a thing of the past (perhaps revived on another property), and while something new will appear on the site, the property will likely remain closed for an extended period of time.

Mirage will be closed during Hard Rock transition

MGM sold Mirage to Hard Rock International in late 2021. The deal has yet to officially close, but once it does, you can expect significant changes to the property.

As we all know, Phantom Volcano will eventually be closed to make way for the Guitar Hotel, like Hard Rock’s iconic hotel in the Fort Lauderdale area. The company has been vague about its plans for the Phantom Tower, but some new details have emerged.

“Looking ahead, Hard Rock also recently announced property expansions in Las Vegas, set to open in 2025, and Athens in 2026,” Casino.org reports.

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It’s possible, but not confirmed by Hard Rock, that Mirage may be closed for an extended period of time during renovations.

Earlier this year, employees of a major theater production contacted TheStreet and said they had only been offered a one-year contract extension. They suggested that production would be interrupted at least during construction.

Hard Rock has the right to use the Mirage name royalty-free for up to three years. It is expected that once construction is complete, the property will be renamed Hard Rock Las Vegas (or similar). The company has not confirmed any plans to close the resort or remove the volcano.

Las Vegas loses Mirage, gets Guitar Hotel

MGM basically traded the Phantom for the Metropolis, which it bought at about the same time.

“Now I’ve mentioned in the past that we’re comfortable with the exposure we have in Las Vegas right now,” Bill Hornback said on the company’s third-quarter earnings call. “As such, we are currently in the early stages of selling the Mirage business. Doing so will allow us to maintain our existing Las Vegas business while focusing on the complementarity and diversity of our hometown offering.”

Hard Rock, the gaming arm of the Seminole Tribe, will be the first Native American tribe to operate a casino on the Las Vegas Strip.

Mohegan Gaming & Entertainment owns Mohegan Sun in Connecticut and operates a casino at the Virgin Hotel in Las Vegas, while San Manuel of California Indians led the purchase of Strip Palms earlier this year.

The recently reopened Palms includes more than 700 hotel rooms and suites, multiple casual and upscale dining options, meeting and meeting spaces, a 2,500-seat theater, pool and spa, and Palms Place condos. It is also home to numerous restaurants by famous chefs. Bobby Flay, Gordon Ramsay, Guy Fieri, Robert Irvine, Wolfgang Puck and “Iron Chef” Michael Symon will bring his Mabel’s BBQ brand back to Palms.

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