Additionally, the Florida-based casino and entertainment giant has entered into a long-term lease agreement with real estate investment trust (REIT) VICI Properties for the real estate property of the asset. Under terms of the transaction, Hard Rock paid $1.075 billion in cash for the operating assets of The Mirage. HRI assumed operations control of the casino as of 6 am Monday, December 19. The firm, owned by the Seminole Tribe, received on Friday regulatory approval from the Nevada Gaming Commission for the purchase of the property from MGM Resorts International. Hard Rock International has completed the acquisition of The Mirage Hotel & Casino in Las Vegas.
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