The iconic Mirage hotel-casino on the Las Vegas Strip will shut its doors this summer, marking the end of an era for a property that played a pivotal role in transforming Sin City into a premier luxury resort destination.

The closure on July 17 will pave the way for extensive renovations and new construction on the 80-acre (32-hectare) property. In 2027, the site will reopen as the Hard Rock Las Vegas featuring a hotel tower shaped like a guitar, rising nearly 700 feet (about 210 meters) above the Strip.

“We’d like to thank the Las Vegas community and team members for warmly welcoming Hard Rock after enjoying 34 years at The Mirage,” Jim Allen, chairman of Hard Rock International, said in a statement on Wednesday.

This will be the second casino on the Strip to close this year. The Tropicana Las Vegas ceased operations in April after 67 years to make way for a $1.5 billion baseball stadium, planned as the future home of the Oakland A’s, who are relocating.

From Polynesian Themes to Mega Resorts

The Mirage, developed by former casino mogul Steve Wynn, opened its doors in 1989 with a Polynesian theme, becoming the Strip’s first megaresort. This milestone spurred a building boom on the famous boulevard throughout the 1990s. The Mirage’s volcano fountain was among the first of the Las Vegas Strip’s sidewalk attractions, setting a trend that would later include the Venetian’s canals and the Bellagio’s dancing fountains.

For years, tourists flocked to the Mirage to witness Siegfried and Roy taming white tigers or to enjoy a Cirque du Soleil performance set to Beatles music. The final performance of the Beatles-themed show, which brought Paul McCartney and Ringo Starr back together for public appearances during its 18-year run, will also be in July.

Employee Transition and Future Plans

Hard Rock International announced that more than 3,000 employees will be laid off, with an expected $80 million in severance payouts. The Culinary Workers Union, representing about 1,700 Mirage employees since its opening, stated that last year’s contract ensures laid-off workers will receive $2,000 for each year of service. Additionally, the contract offers these workers the option to be called back to work and retain their seniority when the hotel reopens.

“Culinary Union will continue to ensure workers are protected and centered in the property’s future,” the union stated.

The Mirage made history in 2022 as the first Strip property to be run by a Native American tribe. Hard Rock International, owned by the Seminole Tribe of Florida, purchased the Mirage from MGM Resorts in a cash deal worth nearly $1.1 billion. At the time, Hard Rock assured that the property would remain operational under the Mirage brand while renovation plans were finalized.

The Mirage is currently accepting no bookings beyond July 14, with all reservations past that date to be canceled and refunded.

Source: “Mirage, a landmark Strip resort, prepares to vanish”. May 15, 2024.

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Real estate development company LVXP has revealed its visionary proposal for a transformative mixed-use project on the iconic Las Vegas Strip, signaling a new era of innovation and excitement for the city. Anchored by a cutting-edge entertainment and sports arena, the development aims to redefine the landscape of entertainment, hospitality, and urban living.

LVXP’s Transformative Development Set to Change the Game with State-of-the-Art Venue

Spanning a prime 27-acre site at 2601 South Las Vegas Boulevard, LVXP’s project promises to be a game-changer for the region, strategically positioned near renowned landmarks such as Fontainebleau Las Vegas and Resorts World Las Vegas. 

The centerpiece of the development will be a state-of-the-art venue designed to host a diverse range of entertainment and sporting events, offering an immersive experience like no other.

James R. Frasure Jr., CEO of LVXP remarked: “We are honored to be stewards of this significant milestone in the city’s legacy. Our commitment is to create a destination that captures the essence of Las Vegas and provides lasting benefits for the community. For me, this endeavor is more than a project – it’s a promise to uphold the spirit of innovation and enthusiasm that defines our local culture.”

In addition to the entertainment complex, LVXP’s ambitious vision encompasses a vibrant mix of retail spaces, convention facilities, luxury accommodations, and a world-class casino, promising visitors an unparalleled fusion of excitement and luxury. Notably, the site is also being considered as a potential home for a new NBA franchise, signaling a significant milestone in the city’s sporting landscape.

Chairman Segerblom Applauds LVXP’s Visionary Project

Clark County Commission Chairman Tick Segerblom expressed his admiration for the project, highlighting it as a pivotal development with extensive benefits for the community. He stated that the visionary project could potentially transform the Las Vegas Strip into a vibrant center of activity, providing long-term value and opportunities for both residents and visitors.

With a focus on sustainability and forward-thinking design, LVXP aims to create a landmark destination that sets new standards for urban development. The project is expected to generate thousands of jobs, bolstering the local economy and reinforcing Las Vegas’ position as a global leader in entertainment and hospitality.

Leading the charge in bringing this ambitious vision to life is a team of seasoned professionals from diverse backgrounds, including real estate, construction, and entertainment. 

Nick Tomasino, chief construction officer at LVXP, expressed his excitement about the project, emphasizing his commitment to delivering a world-class destination that will leave a lasting legacy for generations to come.

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Nevada casinos raked in a hefty $1.27 billion from eager gamblers in January, marking a slight step back from the previous month’s record-breaking figures. The report comes amidst a flurry of activity in the entertainment capital, sandwiched between the grand openings of several resorts in December and the highly popular Super Bowl LVIII hosted in Las Vegas on February 11.

The Last Vegas Strip Records First Decline Since June 2023

While December boasted an impressive $1.43 billion in casino wins, January saw a dip, failing to clinch a spot in the top 10 highest gaming wins on record. Notably, the iconic Las Vegas Strip, typically the powerhouse driving the state’s economy, experienced a downturn with earnings totaling $686.2 million, significantly lower than December’s record-breaking $905.4 million haul.

Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, noted that the decrease in January marked the Strip’s first decline since June 2023, thus breaking a streak of six consecutive increases.

Lawton attributed the decline to various factors, including the disruptive construction associated with the Formula 1 Las Vegas Grand Prix in November and December, prompting some tourists to postpone their visits until February for the Super Bowl festivities. Additionally, the timing of the Chinese New Year influenced visitor patterns, impacting January’s results.

Despite the Strip’s setback, other areas such as downtown Las Vegas, the Boulder Strip, and off-Strip locals’ casinos witnessed a resurgence from December’s figures. Notably, properties in the “Balance of Clark County” category recorded a record-breaking $169.3 million in earnings, buoyed by the recent opening of Durango Casino & Resort in early December.

Slot Machines Fuel Nevada’s Gaming Growth

The state remains on solid footing, boasting a 4.77% increase over the previous year’s performance, with the Strip outperforming at 6.78%. Slot machines emerged as a driving force behind the off-Strip surge, contributing $135.8 million to the overall earnings.

Comparing January 2023 to the present, Nevada saw a modest 0.51% improvement, while the Strip lagged behind by 3.79%. However, the shortfall was compensated by robust performances in Reno, where earnings soared by a staggering 55.0% compared to the previous year, partly attributed to favorable weather conditions that bolstered casino foot traffic.

With February’s figures expected to receive a significant boost from Super Bowl activities, Nevada’s casinos are poised to maintain their winning streak, surpassing the $1 billion mark for the 36th consecutive month.

Meanwhile, the state’s percentage fee collections for February reached $99.7 million, marking a 3.74% increase over February 2023, indicating continued resilience in the gaming sector despite fluctuations in performance on the iconic Las Vegas Strip.

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Culinary Union members in Las Vegas are considering an informational picket after failing to reach a new contract agreements with casino hotels on the Strip. Employees at several properties are threatening to walk off their jobs, demonstrating their desire for new contracts.

The strike is scheduled for tomorrow and will see Culinary Union members working at the Rio Las Vegas, SAHARA Las Vegas and Virgin Hotels Las Vegas leave their workplaces. The Culinary Union also announced that it is planning to begin 36 hours of nonstop picketing of all unsettled casinos.

According to the Union, tomorrow’s demonstration would be an informational picket and not a strike.

Wherever there is an active picket line outside of an unsettled casino, the Culinary Union will be urging customers and community allies to not cross the picket line on Friday and Saturday.

Culinary Union statement

In the meantime, the Culinary Union pushed forward the strike deadline until Monday, February 5, for the 10 downtown Vegas properties without contracts. These include Binion’s, Circa, Downtown Grand, El Cortez, Four Queens, Fremont, Golden Gate, Golden Nugget, Main Street and The D Casino.

As negotiations progress, Culinary Union moves strike deadline to Feb. 5 for 10 DTLV properties, will begin 36-hours of continuous picketing of all unsettled casinos. Strike deadline for Rio, Sahara, & Virgin remains on 2/2.

Culinary Union statement

The Union Already Achieved a Number of Victories

For reference, a whopping 2,600 workers in the Las Vegas hospitality industry are currently working without a contract and are now seeking a five-year agreement. The negotiations continue as Culinary Union members are yet to sign definitive agreements.

In the meantime, the Culinary Union already achieved several victories after successfully negotiating with MGM Resorts, Caesars Entertainment and Wynn Resorts. The union also reached an agreement with the Plaza casino in downtown Vegas, as well as with a number of Strip independents, namely Circus Circus, Four Seasons, Hilton Grand Vacations, Mirage/Hard Rock, Strat, Treasure Island, Tropicana, Trump Hotel, Waldorf Astoria and Westgate.

In the meantime, the potential strikes threaten to interfere with the Super Bowl preparations, providing the Culinary Union with extra leverage.

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MGM Resorts Land Holdings purchased a small piece of land measuring only 1.62 acres (0.0065 square km) south of the iconic Bellagio fountains on May 15, 2023. 

During the same month, MGM Resorts’ LeoVegas announced it would acquire Push Gaming in an attempt to give its global development a push. 

The Space Is Currently a Parking Lot 

The long and slender piece of land between Bellagio and The Cosmopolitan, both operated by MGM, stretches some hundred feet. At the moment, the vacant lot serves the purpose of a parking lot as well as a storage space for garbage. 

The Strip is not visible from MGM’s new piece of land because of the existing trees at the location.

In the past, the small strip of land was under the ownership of Steve Wynn, the real estate developer and art collector responsible for creating some of Sin City’s most popular casinos, including Treasure Island, The Mirage, Wynn Las Vegas, and Bellagio.

Almost two and a half decades ago, Wynn, who, according to Forbes, has a $3.4 billion real-time net worth as of January 12, 2024, sold The Mirage, Bellagio, and Treasure Island to MGM. 

The latter inherited Wynn’s rights to the 1.62 acres it bought last spring. MGM has not yet expressed its plans regarding the small strip of land. 

Why Is the Purchase Important for MGM?

For starters, the casino giant does not own a lot of real estate underneath the gaming venues that it owns. This is mostly because NYSE-listed VICI is the owner of most of the land under casino hotels operated by MGM.

Secondly, the large number of stakeholders involved in the ownership of the real estate belonging to Cosmopolitan and Bellagio makes the land purchase even more interesting. 

Five years ago, in 2019, MGM decided to sell Bellagio’s property assets to NYSE-listed Blackstone’s Blackstone Real Estate Income Trust (BREIT) in 2019. 

Last summer, in August, the same Trust announced it had sold a 21.9% stake in the respective property to NYSE-listed Realty Income in exchange for $950 million.

In September 2021, Blackstone announced the sale of Cosmopolitan for $5.65 billion. Next, BREIT, Stonepeak Partners, and the Cherng Family Trust acquired the real estate of the respective integrated companies for $4 billion.

Blackstone is also the owner of Aria and Vdara’s property assets. The two are operated by MGM.

Given the very limited size of the space, MGM is less likely to build a new integrated resort there or adjoin Bellagio and Cosmopolitan given the existing walkway reuniting the two properties via an escalator. 

One possibility would be for MGM to sell the land to one of the previously mentioned entities that hold interests in the real estate associated with Cosmopolitan and Bellagio.

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A year after receiving approval for a grand 43-story casino-resort on the iconic Las Vegas Strip, billionaire entrepreneur Tilman Fertitta’s ambitious plans are slowly taking shape. Recent filings with Clark County reveal that Fertitta Entertainment, under the stewardship of the casino magnate, has submitted a slew of permits related to the 6.2-acre site at the southeast corner of Las Vegas Boulevard and Harmon Avenue.

Fertitta’s Team Advances with Essential Permits for Las Vegas Casino-Resort

The proposed resort, set to be an upscale paradise, has faced delays since its approval in October last year. However, the Las Vegas Review-Journal reported that these recent filings indicate that Fertitta’s team is gearing up for significant progress. The permits include plans for a base podium, essential for the resort’s construction, and an initial phase for a state-of-the-art parking garage. Additionally, modified plans feature the incorporation of pickleball courts, catering to the diverse entertainment needs of future patrons.

The site, formerly home to the Travelodge motel, was acquired by Fertitta in June 2022 for a staggering $270 million, marking his determination to expand his Las Vegas empire. The Tex Mex Tequila Bar & Grill and souvenir shops that once graced the area have made way for Fertitta’s vision. Despite the slow pace, Fertitta’s spokesperson remains tight-lipped, that currently there are no updates about the project.

The proposed casino resort’s strategic location, nestled amid luxurious venues like Aria, Paris, and Vdara, underscores the need for meticulous planning. Fertitta aims to ensure that his establishment stands out among its esteemed neighbors. Furthermore, Fertitta’s venture in the Strip complements his existing interests. He holds a 6.1% stake in Wynn Resorts.

Fertitta Adapts to Economic Uncertainties in Vegas Venture

Fertitta’s cautious approach appears to align with the challenging economic climate. The current uncertainties in the market, from escalating inflation to soaring raw material costs, have prompted Fertitta Entertainment to adopt a prudent strategy. Observers note that Fertitta is wisely waiting for a more favorable economic environment before diving headlong into the ambitious project. The company’s cautious stance seems to be validated by the economic challenges currently faced by the commercial real estate sector.

Fertitta Entertainment’s dedication to Nevada is evident through its recent acquisition of the Hard Rock Hotel & Casino Lake Tahoe, subsequently rebranded as a Golden Nugget property. This move adds to the entrepreneur’s burgeoning portfolio, which already includes the renowned Golden Nugget in downtown Las Vegas and another in Laughlin. While the specifics of Fertitta’s grand vision for the Strip remain shrouded in mystery, the recent permit filings signal a promising step forward. Fertitta’s casino-resort project could soon become a dazzling jewel adorning the ever-vibrant Las Vegas skyline.

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In light of the recent cyberattack that disrupted MGM Resorts’ operations, the iconic strip club has extended a helping hand to affected tourists, offering them an array of unique perks to ease their stress and ensure their Sin City experience remains unforgettable.

Cyberattack Rocks MGM Resorts, Larry Flynt’s Hustler Club Offers Respite

The MGM Resorts cyberattack, which struck at the beginning of the week, plunged some visitors into chaos as they struggled to access their hotel rooms or complete check-in procedures. The fallout even extended to casino slot machines and phone lines, adding to the frustration of travelers in town for a good time.

Larry Flynt’s Hustler Club wasted no time stepping up to the plate, recognizing the need to alleviate the distress of both guests and hospitality employees grappling with the situation. Brittany Rose, the club’s general manager, conveyed her heartfelt empathy for those affected, reported TMZ. She mentioned that their hearts went out to both the employees and the tourists impacted by the devastating event. As members of the hospitality industry, they had decided to contribute to enhancing the guest experience during their visit to Las Vegas, with the aim of easing the stress experienced by the employees who were diligently handling the situation.

For those guests who endured the cyberattack’s turmoil and are at least 21 years old, Larry Flynt’s Hustler Club is offering an impressive array of freebies. To partake in this unique offer, visitors simply need to present proof of a valid hotel reservation at any MGM property from September 10 onwards. The freebies include airport pickup, luggage storage to accommodate check-in delays, a complimentary $1,200 platinum VIP membership, and, of course, free lap dances. However, this generous offer is only available until September 24, so affected tourists should make the most of it while they can.

Cyberattack Brings Unexpected Windfall for Las Vegas Adult Entertainment Venues

While the cyberattack left many visitors grappling with inconvenience, it inadvertently boosted business for the city’s adult entertainment establishments. Strip Club Concierge, another Sin City gentlemen’s club, reported a surge in foot traffic, reservations, and ride service usage in the wake of the attack. Strippers even saw a substantial increase in earnings, with some bringing in up to $2,000 more per night.

The recently experienced cyberattack on MGM Resorts International is believed to be the work of the Scattered Spider group, a notorious cybercriminal organization known for using social engineering to obtain login credentials and OTP codes.

The attack has had a significant impact on MGM’s business, leading to a decline in its stock price, email and website shutdowns, and potential losses. Moody’s credit rating agency has warned that MGM’s credit rating may be negatively affected due to security weaknesses. Similar cyberattacks have targeted other companies, including Caesars Entertainment and Stake.com.

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A new Yahoo Sportsbook powered by William Hill at The Venetian in Las Vegas opened its doors to visitors Thursday. The exciting announcement follows a multi-year naming rights partnership for the Yahoo Sportsbook on The Venetian casino floor that is expected to bring unique and engaging experiences for bettors and sports aficionados alike.

The new sportsbook uses more than 12,000 square feet and features a massive 1,770 square foot LED video wall with 46 million pixels. The massive video wall can display up to 40 different sports events at the same time. What’s more, the state-of-the-art Yahoo Sportsbook offers 30 more TVs throughout the venue, allowing sports fans and bettors to enjoy the action without interruptions.

Overall, the venue offers lounge chairs and plush sofas for 105 visitors. An oval bar with 29 seats is located at the center of the venue, offering ten 65-inch 4K LED screens that can be viewed easily. Additionally, a massive 97-foot ticker displays live odds, as well as scores from different sports events for the convenience of the visitors.

Sports fans who are looking for elevated experiences can benefit from the sportsbook’s two Fan Caves. At the Yahoo Fan Caves, visitors can dive into unique gameday viewing experiences thanks to two 98-inch UHD 4K displays that can be controlled. The Fan Caves offer seats for parties of eight or 12 and bring food and beverage options. Elevating the thrill further, visitors can benefit from food and beverages, while sports fans at the Fan Caves have a special menu at the Black Tap Craft Burgers & Beer and Noodle Asia outlet.

The New Sportsbook Is Expected to Deliver Exciting Experiences

Michael Grodsky, the VP and head of west region digital operations for William Hill US, said that the company is excited to power the new sportsbook on the Las Vegas Strip. He added: “Our market-leading tech has provided a best-in-class retail sportsbook experience in Nevada for a long time, and we can’t wait to bring this high-powered partnership to life for more sports fans alongside our new William Hill mobile sports wagering app.”

“We are excited and privileged to launch the Yahoo Sportsbook in partnership with The Venetian Resort Las Vegas.“

Ryan Spoon, president of Yahoo Sports

Ryan Spoon, Yahoo Sports’ president, added that the company is thrilled to see the launch of its sportsbook at The Venetian in Las Vegas. He predicted that the new sportsbook will deliver thrilling experiences for bettors and sports fans. Finally, Spoon spoke about the importance of the new collaboration between Yahoo, The Venetian and William Hill.

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The Las Vegas Convention and Visitors Authority (LVCVA) approved the sale of 10 acres of land on the Las Vegas Strip. The deal, which will see the entity sell the parcel to Brett Torino and Paul Kanavos for $12.5 million per acre, was unanimously approved by LVCVA’s directors.

The $125 million deal will see the land passed to the experienced real estate developers. The 10 acres have historic value for Las Vegas as they were once a part of the famous Riviera property.

The Riviera was a large casino resort that first opened in 1955. After decades in business, the resort and its associated land were acquired by the LVCVA in a $182.5 deal. The agency’s plan was to use the land to erect an expansion of the Las Vegas Global Business District.

In 2015, the LVCVA closed the Riviera and by 2016 it had wrapped up the demolition of the old casino resort. Now, it has secured the sale of an extra parcel of land it didn’t need for the expansion of the Las Vegas Global Business District.

Torino and Kanavos Might Revitalize the Northern Part of the Strip

Brett Torino and Paul Kanavos are seasoned developers with experience in developing Vegas properties. However, they didn’t reveal their plans for the 10 acres of former Riviera land. Still, Torino and Kanavos did say that they picked the location because of its attractive location. While they didn’t confirm anything outright, they implied that a hotel and/or an entertainment complex might be what the future of the plot hides.

The upcoming property might attract more pedestrians toward the northern end of the Strip. According to Steve Hill, the president and chief executive of the LVCVA, Torino and Kanavos’ project is certain to appeal to their neighbors.

The two businessmen have until September 11 to close the deal. If the sale is not completed within that time frame, the LVCVA plans to relist the parcel.

The Current Deal Comes in the Wake of a Failed Sale

This isn’t the first time that the LVCVA has tried to sell this 10-acre plot. Back in 2021, the company agreed to sell the land to Claudio Fischer, a Chilean billionaire. The mogul already owns several casinos in South America and might have resurrected the Riviera or at least the idea of it in some way. Fischer had agreed to buy the land in a $120 million deal but eventually backed out of it.

The billionaire cited the high interest rates as the reason for canceling the agreement.

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The Al-Marjan island which will be hosting the upcoming casino resort which may not be the only property in the vicinity, as Wynn seeks to evoke a Las Vegas vibe to the future venture.

Wynn Resorts Confident in the Success of “Vegas Strip” in UAE

According to company filings, Wynn Resorts has already registered “Arabian Strip” and “Marjan Strip” as trademarks, meaning that the company is not only looking to establish a resort but ensure that it benefits from its first-mover advantage.

The terms are a clear allusion to the Las Vegas Strip, which is the term usually used to describe the place in Las Vegas where the casino resorts are located. They are actually not in the city itself.

Wynn Resorts is building its project across an artificial island and the company will be spending $2 billion to bring it to bear. Wynn is teaming up with RAK Hospitality Holding LLC, a local developer, which will see through the construction work of the upcoming venue.

Wynn CEO Craig Billings has already confirmed that the company is forging ahead with plans to introduce gambling in the United Arab Emirates, specifically across its casino resort. New renderings and plans will be revealed publicly over the coming months, Billings confirmed.

The project is expected to arrive in 2026, with the first sod expected to take place later in 2023, and the finished property to materialize itself by the end of 2026. The area will have a range of amenities, including dining venues, meeting spaces, event halls, accommodations and more.

Some Reason for Skepticism After All

While introducing a Vegas-style gambling in the UAE would have a transformative impact on the region’s reputation for opposing gambling, Wynn’s enthusiasm alone will not suffice. The decision would ultimately lie with the UAE and whether the country feels like greenlighting casino gambling on its territory.

Just because the company wishes to use the same term to describe its project, though, doesn’t mean it would be quite the same experience as well. The Las Vegas Strip presently plays host to more than 30 casinos whereas the Marjan Strip is only going to host Wynn’s casino for now.

Wynn though is determined to wow local and international audiences. The company has contracted the same architect studio behind the Palazzo Las Vegas, Venetian Macau, and the Atlantis Paradise Island, HKS Architects. Meanwhile, rivals Caesars and MGM Resorts are somewhat present in the region.

Caesars runs a luxury hotel in Dubai, and MGM Resorts International is building a tourism-focused property that has made no mentions of gambling just yet. The investment in Wynn’s property is solid, with the company expecting 20% ROI. More details will be forthcoming.

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