MGM Resorts International is selling the operations of The Mirage Hotel & Casino to Hard Rock International for $1.075 billion in cash, the company announced on Monday. The Mirage, an iconic strip resort located in Las Vegas, opened in 1989 and was acquired by MGM Resorts in 2000 for $4.4 billion in cash. It is best known for its 90-foot Strip-side volcano. “This transaction is a significant milestone for MGM Resorts, and for Las Vegas,” said Bill Hornbuckle, CEO & President, MGM Resorts International in a statement.”As part of the team that opened The Mirage in 1989, I know firsthand how special it is, and what a great opportunity it presents to the Hard Rock team.” The sale is expected to close in the second half of 2022 and is likely to deliver to MGM Resorts net cash proceeds, after taxes and estimated fees, of about $815 million. Paul Salem, Chairman of the Board …
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