Mirage vegas6/20/2023 ![]() BofA Securities and PJT Partners served as financial advisors and Weil Gotshal & Manges served as legal counsel to MGM Resorts to complete the Mirage sale. The Mirage opened in 1989 and was acquired by MGM Resorts in 2000. “The monetization of our entire real property portfolio, together with the addition of Cit圜enter and our agreement to acquire The Cosmopolitan of Las Vegas, will position the company with a fortress balance sheet, premier portfolio and significant financial resources to pursue our strategic objectives,” Paul Salem, chairman of the board of directors of MGM Resorts, said in a statement. Hospitality company Hard Rock International has bought The Mirage Hotel and Casino in Las Vegas from MGM Resorts International for approximately 1.08 billion, the company announced on Monday. MGM Resorts had to shutter its entertainment properties amid the early stages of the pandemic in 2020, before reopening properties under strict safety protocols. Located in Las Vegas Strip, The Mirage Hotel & Casino is adjacent to Mirage Volcano and within a 10-minute walk of other popular attractions like Fashion. The transaction is expected to close in the second half of 2022, subject to regulatory approvals and other closing conditions. Located in Las Vegas (Las Vegas Strip), The Mirage Hotel & Casino is within a 10-minute walk of Mirage Volcano and Fashion Show Mall. The casino giant expects net cash proceeds from the sales agreement after taxes and estimated fees to be around $815 million.
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