{"id":30521,"date":"2021-12-13T16:25:06","date_gmt":"2021-12-14T00:25:06","guid":{"rendered":"https:\/\/www.casino.org\/vitalvegas\/?p=30521"},"modified":"2023-09-04T00:05:46","modified_gmt":"2023-09-04T07:05:46","slug":"hard-rock-confirms-it-will-acquire-mirage-build-guitar-shaped-hotel","status":"publish","type":"post","link":"https:\/\/www.casino.org\/vitalvegas\/hard-rock-confirms-it-will-acquire-mirage-build-guitar-shaped-hotel\/","title":{"rendered":"Hard Rock Confirms It Will Acquire Mirage, Build Guitar-Shaped Hotel"},"content":{"rendered":"\n

After months of rumors (mostly ours), Hard Rock International (the Seminole Tribe of Florida) has confirmed it will acquire The Mirage from MGM Resorts.<\/p>\n

Hard Rock will purchase Mirage for $1.075 billion in cash. Our over\/under<\/a> was $900 million, so anyone who wagered on the “over” can cash their tickets.<\/p>\n

In the words of Credit Suisse, this “implies a strong 17x opco multiple,” whatever the hell that means.<\/p>\n

Hard Rock says it plans to build a guitar-shaped hotel on the Mirage site. (The Mirage hotel tower isn’t going anywhere. The guitar tower is in addition.) The Seminoles already have a guitar-shaped hotel<\/a> in Florida. Ours will be better. It’s Las Vegas.<\/p>\n

So much boom for one announcement. We’re going to need a minute.<\/p>\n