Las Vegas’ Mirage hotel closes its doors for good

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and the closing of an iconic Las Vegas hotel.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:04It was a tough day for tech investors.

00:07The Nasdaq plunged 512 points, that index's worst day of the year.

00:13Investors were spooked by separate reported warnings from President Joe Biden and Republican

00:18frontrunner Donald Trump, likely to cause trouble for chipmakers doing business with

00:22China and Taiwan.

00:24Meanwhile, the Dow set a record closing high as earnings season moves along.

00:28Netflix and Domino's Pizza will both release quarterly results on Thursday.

00:33In other news, Las Vegas is losing an iconic piece of its history.

00:37The Mirage Hotel and Casino is shutting its doors after 34 years.

00:42High rollers had one final chance to try lady luck during the week-long send-off, with a

00:46$1.6 million cash prize on the line as part of the goodbye.

00:50When it opened back in 1989, the Mirage kicked off a grand modern era for the strip.

00:57It was the first to have a sidewalk attention-getter, the Volcano.

01:00The Bellagio and the Venetian soon followed suit with their own splashy eye-catchers.

01:06But the property has changed hands several times in recent decades.

01:10Original owner Steve Wynn sold the Mirage to MGM Resorts in 2000, which then sold it

01:15for more than $1 billion in 2022 to Hard Rock International.

01:20It will now undergo an overhaul and reopen as Hard Rock Las Vegas in 2027.

01:26As part of the rebranding, a new 700-foot-tall hotel tower shaped like a guitar is going

01:31up, similar to the Hard Rock complex in South Florida.

01:36That'll do it for your daily briefing.

01:37From the New York Stock Exchange, I'm Conway Gittens with the Street.

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