Las Vegas Sun

March 28, 2024

MGM planning to sell Mirage resort operations

Casino Exteriors

Steve Marcus

An exterior view of the Mirage Thursday, Feb. 26, 2015.

MGM Resorts International has announced plans to sell the casino and resort operations of the Mirage on the Las Vegas Strip.

In a letter to MGM employees dated today, MGM CEO Bill Hornbuckle said the sale will be “best for the long-term success of both the property and MGM Resorts.”

“The Mirage is ripe for continued investment and development,” Hornbuckle said. “It will be the crown jewel in another operator’s portfolio, which is why we believe a sale makes strategic sense at this time.”

Hornbuckle reflected about being part of the team that helped bring the resort to life more than 30 years ago.

“It’s a remarkable resort with great brand recognition and a strong, loyal following,” he said in the letter.

During a quarterly earnings conference call today, Hornbuckle said the process of selling the Mirage operations was in the early stages.

Built by casino mogul Steve Wynn, the Mirage opened the day before Thanksgiving in 1989. It was later sold to MGM.

With its mammoth layout and fire-spewing volcano, the Mirage was one of the most elaborate hotel projects in the world at the time. It was built for about $620 million.