Mirage Resorts (formerly Golden Nugget Companies) was an American company that owned and operated hotel-casinos. It was acquired by MGM Grand, Inc. in 2000, forming MGM Mirage (now

MGM Resorts International MGM Resorts International is an American Multinational corporation, multinational hospitality, sports and entertainment company. It operates resorts in Las Vegas, Massachusetts, Michigan, Mississippi, Maryland, Ohio, New Jersey, Macau, Shanghai, ...

History

Golden Nugget Companies Inc. was formed by

Steve Wynn Stephen Alan Wynn ( Weinberg; born January 27, 1942) is an American real estate developer and art collector. He was known for his involvement in the luxury casino and hotel industry, prior to being forced to step down in 2018. Early in his care ...

in 1973. The company was created after Wynn acquired majority control of the Golden Nugget in

Las Vegas Las Vegas, colloquially referred to as Vegas, is the most populous city in the U.S. state of Nevada and the county seat of Clark County. The Las Vegas Valley metropolitan area is the largest within the greater Mojave Desert, and second-l ...

, Nevada. In 1980, the company opened the

Golden Nugget Atlantic City Golden Nugget Atlantic City is a hotel, casino, and marina located in Atlantic City, New Jersey. Having been opened in 1985 as Trump's Castle, it was renamed Trump Marina in 1997. Landry's, Inc. purchased the casino from Trump Entertainment ...

New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...

but in 1987, Wynn's and the company's interest in

Atlantic City Atlantic City, sometimes referred to by its initials A.C., is a Jersey Shore seaside resort city in Atlantic County, in the U.S. state of New Jersey. Atlantic City comprises the second half of the Atlantic City- Hammonton metropolitan sta ...

did not last very long due to frustration with state gaming regulators. The property was sold to Bally's Entertainment, and eventually became Bally's Grand Hotel and Casino. In 1989, the company acquired the Nevada Club casino in

Laughlin, Nevada Laughlin () is an unincorporated community in Clark County, Nevada, United States. Laughlin lies south of Las Vegas, in the far southern tip of Nevada. As a resort town, it is known for its gaming and water recreation. As of the 2020 census, t ...

, and re-branded it as the

Golden Nugget Laughlin The Golden Nugget Laughlin (formerly the Nevada Club) is a hotel and casino located on the banks of the Colorado River in Laughlin, Nevada. It is owned and operated by Landry's, Inc. It offers a number of restaurants, 300 guest rooms and suites, ...

The Mirage and Treasure Island (1990s)

Wynn's first major casino on the

Las Vegas Strip The Las Vegas Strip is a stretch of Las Vegas Boulevard in Clark County, Nevada, that is known for its concentration of resort hotels and casinos. The Strip, as it is known, is about long, and is immediately south of the Las Vegas city limits ...

was

The Mirage The Mirage is a defunct casino resort on the Las Vegas Strip in Paradise, Nevada, United States. The 65-acre property included a casino and 3,044 rooms. Mirage Resorts, Golden Nugget, Inc., led by developer Steve Wynn, purchased the future lan ...

, which opened in November 1989. It was the first time Wynn was involved with the design and construction of a casino, and he financed the $630 million project largely with

high-yield bond In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit even ...

s issued by

Michael Milken Michael Robert Milken (born July 4, 1946) is an American financier. He is known for his role in the development of the market for High-yield debt, high-yield bonds ("junk bonds"), and his conviction and sentence following a guilty plea on felony ...

. The resort's high cost and emphasis on luxury meant that it was considered high risk at the time, though the project ended up being enormously lucrative. The hotel, with its erupting volcano and South Seas theme, ignited a $12 billion building boom on the Strip. Its construction is also considered noteworthy in that Wynn had set a new standard for Vegas resorts, and when it opened The Mirage was the first casino to use security cameras full-time on all table games. Known for its entertainment, the hotel became the exclusive venue for the ''

Siegfried & Roy Siegfried Fischbacher (born Siegfried Tyron Fischbacher; June 13, 1939 – January 13, 2021) and Roy Horn (born Uwe Ludwig Horn; October 3, 1944 – May 8, 2020) were German-American entertainers who performed an animal-based magic show together ...

'' show in 1990, and in 1993 the hotel hosted the

Cirque du Soleil Cirque du Soleil (, ; ) is a Canadian entertainment company and the largest contemporary circus producer in the world. Located in the inner-city area of Saint-Michel, Montreal, Saint-Michel, Montreal, it was founded in Baie-Saint-Paul on 16 Jun ...

show ''

Nouvelle Expérience ''Nouvelle Expérience'' was Cirque du Soleil's fourth touring circus show, which premiered in 1990. Before the show's conception, Cirque du Soleil attempted to revive one of its previous shows, ''Le Cirque Réinventé''. The attempt was abandon ...

''. Afterwards Wynn decided to invite Cirque to create '' Mystère'' for the soon-to-be-built

Treasure Island ''Treasure Island'' (originally titled ''The Sea Cook: A Story for Boys''Hammond, J. R. 1984. "Treasure Island." In ''A Robert Louis Stevenson Companion'', Palgrave Macmillan Literary Companions. London: Palgrave Macmillan. .) is an adventure a ...

resort next door. Following the completion of

in 1989 Steve Wynn changed the name of the company to Mirage Resorts, Inc. Much of the financing for the Mirage was obtained in cooperation with

. After the Mirage, Wynn built the

Treasure Island Hotel and Casino Treasure Island Hotel and Casino (also known as Treasure Island Las Vegas and "TI") is a pirate-themed hotel and casino located on the Las Vegas Strip in Paradise, Nevada, U.S. It includes 2,885 rooms and a casino. The resort is owned and oper ...

, which he opened in the Mirage's old parking lot in 1993, and overall cost $450 million. Intended to be family-friendly, the resort featured pools in front of the casino enacted the Battle of Buccaneer Bay with two full-scaled ships, the pirate ship 'Hispaniola' and the British Royal Navy frigate 'HMS Britannia,' while the inside featured romantic tropical theming and 18th century Caribbean pirate theming. The establishment was the home of the first permanent Cirque du Soleil show in Las Vegas, and the show went on to be voted nine times as the best production show in the city by the ''

Las Vegas Review-Journal The ''Las Vegas Review-Journal'' is a daily subscription newspaper published in Las Vegas, Nevada, since 1909. It is the largest circulating daily newspaper in Nevada and one of two daily newspapers in the Las Vegas area. The ''Review-Journal' ...

'' reader's poll. In 1994, Gold Strike Resorts announced a partnership with Mirage Resorts to build a $250-million casino targeted at budget-conscious visitors, on part of the site of the demolished

Dunes A dune is a landform composed of wind- or water-driven sand. It typically takes the form of a mound, ridge, or hill. An area with dunes is called a dune system or a dune complex. A large dune complex is called a dune field, while broad, flat ...

on the Las Vegas Strip. It ultimately opened in 1996, following Gold Strike's merger with Circus Circus Enterprises as

Monte Carlo Resort and Casino Park MGM, formerly Monte Carlo Resort and Casino, is a megaresort hotel and casino on the Las Vegas Strip in Paradise, Nevada, United States. It is owned by Vici Properties and operated by MGM Resorts International. It was developed by Mirage R ...

and was built as a joint venture between Mirage Resorts and Circus Circus Enterprises, and cost

US$ The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...

344 million to build. The resort sits on , occupied by the Dunes Hotel golf course until its demolition in October 1993. In 1995, the company proposed to build the

Le Jardin Le Jardin (; ) is a former commune in the Corrèze department in central France. On 1 January 2022, it was merged into the new commune of Montaignac-sur-Doustre.Circus Circus Enterprises and

Boyd Gaming Boyd Gaming Corporation is an American gaming and hospitality company based in Paradise, Nevada. The company continues to be run by founder Sam Boyd's family under the management of Sam's granddaughter, Marianne Boyd-Johnson, who currently serv ...

to build casinos on the site, but later reneged on the agreement. While the road, called the

Atlantic City-Brigantine Connector The Atlantic Ocean is the second largest of the world's five oceanic divisions, with an area of about . It covers approximately 17% of Earth's surface and about 24% of its water surface area. During the Age of Discovery, it was known for se ...

, was eventually built, Le Jardin was cancelled after the company was acquired in 2000 by MGM Grand Inc., which later built the

Borgata Borgata Hotel Casino & Spa is a hotel, casino, and spa in Atlantic City, New Jersey. It is owned by Vici Properties and operated by MGM Resorts International. The casino hotel features 2,798 rooms and is the largest hotel in New Jersey. Borg ...

, in a joint venture with

, on the site.

Boardwalk Hotel and Casino The Boardwalk Hotel and Casino was a Coney Island-style hotel on the Las Vegas Strip. The property began in 1966, as a Holiday Inn. Norbert Jansen added a gift shop to the hotel in 1972, and later opened the Slot Joynt casino. In 1985, Jansen re ...

was later acquired by Mirage Resorts in 1997.

Bellagio and Beau Rivage debuts (1998–1999)

In October 1998, Wynn opened the even more opulent Bellagio, a $1.6 billion resort considered among the world’s most spectacular hotels. The architect was

Jon Jerde Jon Adams Jerde, (January 22, 1940 – February 9, 2015) was an American architect based in Venice, Los Angeles, California, founder and chairman of The Jerde Partnership, a design architecture and urban planning firm specializing in the design o ...

of The Jerde Partnerships, and construction was handled by Mirage Resorts, Inc. When built, the Bellagio was the most expensive hotel in the world. In front of the hotel are the Fountains of Bellagio—shooting fountains choreographed to music that “dance” on the hotel’s 8.5 acre man-made lake—which are now considered Las Vegas landmarks. The Bellagio is credited with starting a new spree of luxurious developments in Las Vegas. Among these developments include The Venetian,

Mandalay Bay Mandalay Bay is a 43-story luxury resort and casino at the south end of the Las Vegas Strip in Paradise, Nevada. It is owned by Vici Properties and operated by MGM Resorts International. It was developed by Circus Circus Enterprises and complete ...

, and

Paris Las Vegas Paris Las Vegas is a casino hotel on the Las Vegas Strip in Paradise, Nevada. It is owned and operated by Caesars Entertainment. Property features include a casino, 3,672 hotel rooms, a 1,400-seat performance theater, and various restaurants. ...

. Wynn brought Mirage Resorts’ style to

Biloxi Biloxi ( ; ) is a city in Harrison County, Mississippi, United States. It lies on the Gulf Coast of the United States, Gulf Coast in southern Mississippi, bordering the city of Gulfport, Mississippi, Gulfport to its west. The adjacent cities ar ...

Mississippi Mississippi ( ) is a U.S. state, state in the Southeastern United States, Southeastern and Deep South regions of the United States. It borders Tennessee to the north, Alabama to the east, the Gulf of Mexico to the south, Louisiana to the s ...

in 1999, where he oversaw development of the 1,835-room Beau Rivage. Themed to blend Mediterranean beauty with Southern hospitality, the resort was part of a building boom that established Biloxi as a regional tourism center along the

Mississippi Gulf Coast The Mississippi Gulf Coast, also known as Mississippi Coast, Mississippi Gulf Coast region, Coastal Mississippi, and The Coast, is the area of Mississippi along the Mississippi Sound at the northern extreme of the Gulf of Mexico. Geography At t ...

. ''Beau Rivage'' was originally the name Wynn wanted to give the Bellagio, though he had decided on ''Bellagio'' after vacationing in the Italian region of the same name. Beau Rivage opened as the largest hotel-casino to be built outside Nevada. The casino was initially located on a series of floating barges as required by local law confining all casinos to mobile marine vessels at the time of the resort's construction. The hotel, restaurants, and associated facilities were constructed on land.Beau Rivage's Website
/ref> The company was acquired in 2000 by MGM Grand Inc., which then changed its name to MGM Mirage, for $6.4 billion, including $2 billion in assumed debt, after an initial all-cash offer of $17 per share and a final offer of $21 per share. The company was majority owned by Wynn.

Hotel and casinos owned at acquisition

* Bellagio * Beau Rivage *

Golden Nugget Las Vegas The Golden Nugget Las Vegas is a luxury hotel and casino located in downtown Las Vegas, Nevada, on the Fremont Street Experience. The property is owned and operated by Landry's, Inc. It has 2,419 hotel rooms. History The Golden Nugget was o ...

* Announced

Le Jardin Le Jardin (; ) is a former commune in the Corrèze department in central France. On 1 January 2022, it was merged into the new commune of Montaignac-sur-Doustre.Atlantic City Atlantic City, sometimes referred to by its initials A.C., is a Jersey Shore seaside resort city in Atlantic County, in the U.S. state of New Jersey. Atlantic City comprises the second half of the Atlantic City- Hammonton metropolitan sta ...

. This turned into a 50% interest in what is now

. *

Monte Carlo Monte Carlo ( ; ; or colloquially ; , ; ) is an official administrative area of Monaco, specifically the Ward (country subdivision), ward of Monte Carlo/Spélugues, where the Monte Carlo Casino is located. Informally, the name also refers to ...

(50%

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

with Circus Circus Enterprises) *

Previous properties

References

External links

{{MGM Resorts International Companies based in the Las Vegas Valley Defunct companies based in Nevada Gambling companies established in 1973 Hospitality companies established in 1973 Gambling companies disestablished in 2000 Defunct gambling companies Gambling companies of the United States Hospitality companies of the United States MGM Resorts International Steve Wynn