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Place Category: Vegas Hotels
The Mirage is a 3,044 room Polynesian-themed resort and casino resort located on the Las Vegas Strip in Paradise, Nevada, United States. The resort was built by developer Steve Wynn and is currently owned and operated by MGM Resorts International.
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The original marquee sign in front of the Mirage is the largest free standing marquee in the world. The resort is connected by a free tram to the Treasure Island Hotel and Casino neighboring the hotel’s property to the north.
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The Mirage was built by developer Steve Wynn and designed by Joel Bergman and Roger Thomas. It was built on the site formerly occupied by the Castaways and prior to that, the Red Rooster Nite Club.
The Mirage was proposed with an initial cost of $565 million. Financier Michael Milken helped finance the project by selling $525 million worth of mortgage bonds. The Mirage was the first resort that was built with the money of Wall Street through the use of junk bonds. The project went over budget, and was the most expensive hotel-casino in history, with a construction cost of US $630 million. The hotel’s distinctive gold windows get their color from actual gold dust used in the tinting process.
The Mirage’s construction is considered noteworthy in that Wynn had set a new standard for Vegas resorts, and is widely considered to be the father of today’s Las Vegas. Prior to The Mirage’s opening, the city was experiencing a decline in tourism that began in the 1970s, especially around the time that the state of New Jersey legalized gambling and tourists (in particular those on the East Coast) began to frequent the casinos of Atlantic City. Also, this was a time when Las Vegas was no longer considered a fashionable destination, so a new, high-profile, project was necessary to jump-start the ailing industry. Wynn planned for the resort to feature boxing matches to compete against the Las Vegas Hilton and the adjacent Caesars Palace. – Wikipedia
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