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 global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and ...

History

Golden Nugget Companies Inc. was formed by Steve Wynn in 1973. The company was created after Wynn acquired majority control of the Golden Nugget in

Las Vegas, Nevada Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vega ...

. In 1980, the company opened the Golden Nugget Atlantic City in

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delawa ...

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

Atlantic City Atlantic City, often known by its initials A.C., is a coastal resort city in Atlantic County, New Jersey, United States. The city is known for its casinos, boardwalk, and beaches. In 2020, the city had a population of 38,497.

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, 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)

Las Vegas (Nevada, USA), The Strip -- 2012 -- 6215

Wynn's first major casino on the

Las Vegas Strip The Las Vegas Strip is a stretch of Las Vegas Boulevard South 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 cit ...

was The Mirage, 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 bonds 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 bonds ("junk bonds"), and his conviction and sentence following a guilty plea on felony charges for vio ...

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

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

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 no ...

resort next door. Following the completion of The Mirage 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, 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, fl ...

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 and was built as a joint venture between Mirage Resorts and Circus Circus Enterprises, and cost US$344 million to build. The resort sits on , occupied by the

Dunes Hotel The Dunes was a hotel and casino on the Las Vegas Strip in Paradise, Nevada. It opened on May 23, 1955, as the tenth resort on the Strip. It was initially owned by a group of businessmen from out of state, but failed to prosper under their man ...

golf course until its demolition in October 1993. In 1995, the company proposed to build the

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 son, Bill Boyd (born 1931), who currently serves as th ...

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 oceans, with an area of about . It covers approximately 20% of Earth's surface and about 29% of its water surface area. It is known to separate the "Old World" of Africa, Europe an ...

, was eventually built, Le Jardin was cancelled after the company was acquired in 2000 by

MGM Grand Inc. MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Pa ...

, which later built the Borgata, in a joint venture with

, on the site. Boardwalk Hotel and Casino 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 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, and Paris Las Vegas. Wynn brought Mirage Resorts’ style to Biloxi,

Mississippi Mississippi () is a state in the Southeastern region of the United States, bordered to the north by Tennessee; to the east by Alabama; to the south by the Gulf of Mexico; to the southwest by Louisiana; and to the northwest by Arkansas. Miss ...

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. ''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

, 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 * Boardwalk Hotel and Casino *

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 orig ...

* Announced

Le Jardin Le Jardin (; oc, Lo Jardenc) 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, often known by its initials A.C., is a coastal resort city in Atlantic County, New Jersey, United States. The city is known for its casinos, boardwalk, and beaches. In 2020, the city had a population of 38,497.

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

Monte Carlo Monte Carlo (; ; french: Monte-Carlo , or colloquially ''Monte-Carl'' ; lij, Munte Carlu ; ) is officially an administrative area of the Principality of Monaco, specifically the ward of Monte Carlo/Spélugues, where the Monte Carlo Casino is ...

(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 acces ...

with Circus Circus Enterprises) * The Mirage * Treasure Island Hotel and Casino

Previous properties

* Golden Nugget Atlantic City *

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