It opened in November 1989, with a sidewalk-side volcano spewing fire years before gondoliers began plying canals at the Venetian and fountains started dancing at the Bellagio. The sale marks the end of an era for a Polynesian-themed property built by former casino mogul Steve Wynn and credited with helping transform Las Vegas from a gambling hub into an ultra-luxury resort destination with broader appeal. New York-based VICI owns properties and leases them back to hospitality and entertainment operators.
Hard Rock International also entered into a long-term lease agreement with VICI Properties Inc., a real estate investment trust that acquired MGM Resorts properties this year in a $17.2 billion deal with MGM Growth Properties, a publicly traded landowner of holdings in eight states.
