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The Street
The Street
Business
Daniel Kline

Las Vegas Strip Icon Set for Demolition; Another May Stay

Las Vegas has an endless series of iconic attractions. the Las Vegas sign, the Fountains of Bellagio, the Grand Canal at Venetian, the Fremont Street Experience Downtown, the Fountains at Caesars Palace that Evel Knievel failed to jump in 1967, the High Roller Ferris Wheel at the Linq, the Skypod at the Stratosphere, the Eiffel Tower at Paris, the Statue of Liberty at New York New York, and so many others.

The city has also been in a constant state of construction. Iconic casinos come and go. Even well-known names have disappeared from The Strip, sometimes to return, in other cases to become a piece of history.

Now, two Las Vegas Strip casinos recently have changed hands. The Tropicana has been purchased by Bally's Corp. (BALY) and it's likely to be demolished as part of its rebranding to the parent company's name. 

In addition, the Mirage has been sold by MGM Resorts International (MGM) and new owner Hard Rock International plans to demolish another Las Vegas icon while, perhaps, sparing another.

Image source: Hard Rock International.

What's Happening at the Mirage Site on the Las Vegas Strip? 

When Hard Rock agreed to pay $1,07 billion to MGM for the Mirage Hotel and Casino, it made clear that it intended to build a variation of its Guitar Hotel on the property. That led to speculation that the current Mirage would be demolished, which the company did not deny,

An artist rendering the company released, however, suggests that the main Mirage Tower will remain while the Guitar Hotel will be constructed elsewhere on the 80-acre property. 

While the hotel and casino buildings may remain, something has to give in order to make way for the massive Guitar Hotel, which will mirror its sister property in Florida.

That means that while parts of the Mirage will stay, another iconic fixture of that property will be destroyed.

Which Las Vegas Icon Is Being Demolished?

The Mirage has been known for its signature volcano, and that tourist attraction doesn't make sense once the property gets branded to Hard Rock. The company clearly agrees with that, as ABC4 in Las Vegas has reported that the volcano's days are numbered.

"The iconic volcano outside of the Mirage Hotel & Casino in Las Vegas will be torn down as part of remodeling plans, Hard Rock International Chief Executive Officer Jim Allen said," according to the television channel. "The Hard Rock International, which brought the property from MGM Resorts International last month, plans to rebrand the resort, including demolishing the entire front of the property."

Mirage's Secret Garden and Dolphin Habitat are also unlikely to survive the rebranding, but that has not been confirmed.

“It is our intention that it will feel totally as a brand-new resort,” Allen said in an interview Tuesday, the Las Vegas Journal Review reported. “I’m 100% committed to creating something new. Just buying something and putting the Hard Rock brand on it was never in the options.”

Hard Rock has not released a timeline for any changes. The company also did not respond to a request for comment on plans for the hotel and the future of the Beatles Love Cirque du Soleil show, which has been a fixture at The Mirage since 2006.

The company did release a statement at the time the deal to buy the Mirage became public.

“We are honored to welcome the Mirage’s 3,500 team members to the Hard Rock family,” said Allen. “When complete, Hard Rock Las Vegas will be a fully integrated resort welcoming meetings, groups, tourists, and casino guests from around the world to its nearly 80-acre center-Strip location.”

Employees at the Beatles Love have not been given any assurances about their jobs beyond 2022.

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