If you haven’t seen what a guitar hotel looks like in action, take a look. The former Hard Rock is now Virgin Las Vegas. Vegas watchers will note there was a previous Hard Rock resort in Las Vegas, but Hard Rock International wasn’t involved. We need to get used to that all over again! Vici Properties, a real estate investment trust, will still own the land under Mirage. Our sources nailed the Seminoles as the buyer awhile back, shortly after MGM Resorts confirmed it would sell the operations of Mirage. If you thought 2021 was going out with a whimper, don’t fret. The guitar tower is in addition.) The Seminoles already have a guitar-shaped hotel in Florida. (The Mirage hotel tower isn’t going anywhere. Hard Rock says it plans to build a guitar-shaped hotel on the Mirage site. In the words of Credit Suisse, this “implies a strong 17x opco multiple,” whatever the hell that means. Our over/under was $900 million, so anyone who wagered on the “over” can cash their tickets. Hard Rock will purchase Mirage for $1.075 billion in cash. After months of rumors (mostly ours), Hard Rock International (the Seminole Tribe of Florida) has confirmed it will acquire The Mirage from MGM Resorts.
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