The Weekly / DEC 20 2021
DEC 20 2021 / ISSUE NO. 3 / ARCHIVE
This Week's Top Stories
- Super Bowl LVIII Is Coming to Las Vegas in 2024
In addition to hosting Super Bowl LVIII, Las Vegas is home to the upcoming 2022 NFL Pro Bowl presented by Verizon and the 2022 NFL Draft. - MGM Sells Mirage Operations to Hard Rock for $1.075 Billion
For the twelve months ended December 31, 2019, The Mirage reported Adjusted Property EBITDAR of $154 million. At the closing of the transaction, MGM Resorts' master lease that currently includes The Mirage property will be amended to reduce the annual rent by $90 million. The Company expects net cash proceeds after taxes and estimated fees to be approximately $815 million. VICI, the real estate owner of The Mirage, is working with Hard Rock to facilitate a new lease agreement. - Hard Rock Plans to Build a Guitar-Shaped Hotel on the Las Vegas Strip
Prior to 2020, Hard Rock International had no previous involvement with the Hard Rock Hotel & Casino in Las Vegas. HRI purchased the licensing and naming rights for Hard Rock Hotel & Casino Las Vegas in May 2020. Through the Mirage acquisition, Hard Rock plans to demolish the volcano attraction and build a Guitar-shaped Hotel. - San Manuel to Reopen Palms in Spring 2022
The Nevada Gaming Commission approved San Manuel Band of Mission Indians (“San Manuel” or the “Tribe”) as licensees for Palms Casino resort in Las Vegas. With this approval, the Tribe is set to close the transaction and become owners of Palms Casino Resort with plans to reopen next year in the spring.
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30 years ago today an insanely risky $630 million, junk bond-financed gamble called the Mirage opened, and it changed everything for a city that was turning into a boring, rundown, shell of its former self.
— Las Vegas Locally 🌴 (@LasVegasLocally) November 23, 2019
Thanks Steve. pic.twitter.com/DGC8DQ8B4S
Commercial Real Estate
- Northcap Commercial Arranges Sale of Oakridge Villas Apartments for $5,700,000
- CWCapital Sells Two Las Vegas Multifamily Communities for $69.5 Million
Hotel and Gaming
Community
Profiles
- De Castroverde Law Group Hires Attorneys Natalie Hagen and Miguel Morales
- Simpson Coulter Studio Welcomes New Marketing and Business Development Manager
Mirage Resort 1989 Commercial
About Us
Vegas Business Digest is a forward thinking, specialized publication that focuses on Las Vegas business news and community. Our mission is to document the stories of our city and connecting business minds together to help make our hometown better.
To submit press releases and articles: press@vegasbusinessdigest.com