Mirage Closing, Caesars Flops: 2022’s Top Las Vegas Strip Stories
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The Las Vegas Strip hosted the Consumer Electronics Show this year. March Madness drew near-record crowds and headliners began returning to Caesars Entertainment (CZR) and MGM Resorts International's (MGM) Get Free Report big venues. Las Las Vegas hosted a massively successful NFL Draft in April. Land prices climbed astronomically and a number of new projects have begun.
Mirage is going to be sold to Hard Rock International. The new owner plans to build a Guitar Hotel on the site of the current Mirage Volcano. It's also not known if "Beatles Love" will continue at Mirage. Hard Rancher has the rights to use the Mirage name for up to three years.
Before Resorts World Las Vegas opened in June 2021, the North Strip was quite bleak. Now, it's getting better with the addition of Fontainebleau, a resort-casino and NBA-ready arena. Circus Circus began a $30 million makeover. The Las Las Vegans Fairgrounds remains in contention to become home to a new stadium for Major League Baseball's Oakland Athletics.
Caesars failed to sell Flamingo resort-casino. The company is trying to pay down some of the $15.5 billion in debt it took on when it merged with Eldorado Resorts in 2020. The deadline passed and the Flamedo was not sold. Caesar's will keep the dated but well-located resort.
Tilman Fertita owns the Houston Rockets and the Golden Nugget resort-casino on Fremont Street. He made a major investment in Wynn Resorts and he purchased a piece of land on the Las Vegas Strip in April. His company filed plans to build a 43-story, 2,420-room hotel-Casino there.
