A popular hotel on the Las Vegas strip is closing for good after 34 years.
Transcript:
CONWAY GITTENS: Here’s what we’re watching on TheStreet today.
It was a tough day for tech investors. The Nasdaq plunged 500 points, in that index’s worst days of the year. Investors were spooked by separate reported warnings from President Joe Biden and Republican frontrunner Donald Trump, likely to cause trouble for chipmakers doing business with China and Taiwan.
Meanwhile, the Dow set a record closing high as earnings season moves along. Netflix and Domino’s Pizza will both release quarterly results on Thursday.
In other news, Las Vegas is losing an iconic piece of its history. The Mirage Hotel and Casino is shutting its doors after 34 years.
High rollers had one final chance to try Lady Luck during the weeklong send-off, with a $1.6 million cash prize on the line as part of the goodbye.
When it opened back in 1989, The Mirage kicked-off a grand modern era for the Strip. It was the first to have a sidewalk attention getter – the volcano. The Bellagio and the Venetian soon followed suit with their own splashy eye-catchers.
But the property has changed hands several times in recent times. Original owner Steve Wynn sold the Mirage to MGM Resorts in 2000, which then sold it for more than $1 billion in 2022 to Hard Rock International. It will now undergo an overhaul and reopen as Hard Rock Las Vegas in 2027.As part of the rebranding, a new 700-foot tall hotel tower shaped like a guitar is going up, similar to the Hard Rock complex in South Florida.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I”m Conway Gittens with TheStreet.
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