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☆ The iconic Mirage in Las Vegas is closing after 34 years
▼ + stars: | 2024-05-16 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —The Mirage Hotel and Casino on the Las Vegas Strip, and its instantly recognizable volcano, is soon shutting down after more than three decades in business. In addition to the volcano, the Mirage was also home to other quintessential Las Vegas features like the Siegfried and Roy’s white tigers show and a Cirque du Soleil show set to Beatles music. MGM Resorts bought the Mirage from Wynn in 2000 and sold it in 2022 for more than $1 billion to Hard Rock International. It’s the second time Hard Rock will have a presence in Las Vegas, with the brand previously owning the now-Virgin Hotel off the Strip. The Hard Rock said it will pay more than $80 million in severance.

Persons: Steve Wynn, Siegfried Organizations: New, New York CNN, Las, luxe, Bellagio, Vegas, MGM Resorts, Wynn, Virgin Hotel, Culinary Workers Union Locations: New York, Casino, Las Vegas, Florida, Treasure

☆ Hard Rock leans into F1's luxury image, selling $200 baskets of wings at the Miami Grand Prix ($400 for added caviar)
▼ + stars: | 2024-05-05 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

Read previewLuxury was on full display during the Miami Grand Prix, especially at the Hard Rock Beach Club, where an order of wings cost nearly $200. The racetrack spans 3.7 miles and is set up around Hard Rock Stadium. Hard Rock International announced its Hard Rock Beach Club in March, writing in a press release that the day club experience overlooked the racetrack and included star-studded performances. AdvertisementScreenshot from the Hard Rock Beach Club website. Qian Jun/MB Media/Getty ImagesRepresentatives for Hard Rock did not immediately respond to a request for comment from Business Insider.

Persons: —, Elon Musk, Jeff Bezos, Ryan Ellis, Ellis, Armand de Brignac, Qian Jun, Adam Minter Organizations: Service, Miami Grand Prix, Beach Club, Miami International, Hard, Business, Beach, Rock International, Beach Club Nascar, nascar, Heineken, Miami, Prix, Getty, Motorsports, NASCAR, Europe, Blackbook Motorsport, Bloomberg Locations: SoFlo, Maine, United States

☆ Bally's shareholders wage battle over ownership, 'unfunded development projects'
▼ + stars: | 2024-04-02 | by ( Contessa Brewer | ) www.cnbc.com time to read: +5 min

In this article BALY Follow your favorite stocks CREATE FREE ACCOUNTAn exterior view shows the Tropicana Las Vegas at dusk on March 29, 2024 in Las Vegas, Nevada. David Becker | Getty ImagesAs the famous Tropicana in Las Vegas closes its doors Tuesday, its operator Bally's Corporation is facing its own existential battle. Standard General owns about 23% of Bally's stock, it said last month. An exterior view shows the Tropicana Las Vegas on March 29, 2024, in Las Vegas, Nevada. Bally's market cap stands at little more than half a billion dollars.

Persons: David Becker, Soo Kim, Kim, it's, Dan Fetters, Edward King, Fetters, King, Bally's, It's, George Rose, Chris Grove, Jim Murren, Jess Golden Organizations: Tropicana, Getty, Bally's, Standard, Growth Capital, Las, Trump, Tahoe, Chicago, Major League Baseball's Athletics, Leisure Properties, New, Acies, MGM Resorts International, CNBC Locations: Las Vegas , Nevada, Las Vegas, New York City, Stateline , Nevada, Seminole, Florida, Nevada, Oakland, Vegas

☆ Your next landlord may be a pro sports team
▼ + stars: | 2024-02-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

But team owners in recent years have turned to real estate development to bring in extra cash and drive up the asset values of their franchises. “It makes perfect sense for a team owner to play real estate,” said Propheter. “That means that team owners do have a lot of leverage,” he said. “Stadium subsidies transfer wealth from the general tax base to billionaire team owners, millionaire players, and the wealthy cohort of fans” who regularly attend games. “Generally speaking, the people who come off well are the team owners and the developers,” Zimbalist said.

Persons: ”, Geoffrey Propheter, Daniel Slim, “, Andrew Zimbalist, Louis, Harry Cabluck, Bruce Ratner, Stan Kroenke, Matthew Grimes Jr, Steve Cohen, Mark Cuban’s, Adelson, “ I’m, ” Zimbalist Organizations: New, New York CNN, Professional, Billionaire, University of Colorado Denver, Sofi, Getty, Washington Wizards, Capitals, Sweet, Smith College, Riverfront, Busch, Baltimore Orioles, Camden, Barclays Center, Nets, Los Angeles Rams, “ Battery, Atlanta Braves, Golden State Warriors ’ Chase Center, Texas Rangers, Globe, Arlington, New York Mets, Hard, Citi Field . Dallas Mavericks, Vegas Sands Corp, Management Locations: New York, North America, Inglewood , California, AFP, Washington, Alexandria , Virginia, Cincinnati, St, Pittsburgh, Brooklyn, New Jersey, ”, “ Battery Atlanta ”, Truist, Atlanta, San Francisco, “, City, Arlington , Texas, ” Cuban

☆ Messi's new Inter Miami soccer jersey replaces crypto firm logo with cruise operator icon
▼ + stars: | 2024-01-25 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Benjamin Cremaschi #30, Lionel Messi #10 and Luis Suarez #9 of Inter Miami CF unveil new jerseys during the Royal Carribean & Inter Miami CF Launch Event on January 23, 2024 in Miami, Florida. Argentinian superstar Lionel Messi and his teammates at Major League Soccer's Inter Miami will wear the icon of Royal Caribbean International on their jerseys for the upcoming campaign, replacing crypto investment firm XBTO as the club's main sponsor. In a statement published Tuesday, Royal Caribbean International announced it would soon "make its mark front and center" on the Inter Miami's team's soccer jerseys. The sponsorship deal is likely seeking to harness Messi's popularity ahead of the eight-time Ballon d'Or winner's second season at Inter Miami. Alongside partnering with Hard Rock International for a "Milanese style" chicken sandwich, Messi recently helped Royal Caribbean International to launch its enormous "Icon of the Seas" ship.

Persons: Benjamin Cremaschi, Lionel Messi, Luis Suarez, Jason Liberty, Messi Organizations: Inter Miami CF, Royal, Inter Miami, Major League Soccer's Inter Miami, Royal Caribbean International, Inter Miami's, Royal Caribbean Group, Hard, International Locations: Miami , Florida, Florida, South Florida

The Inter Miami star, World Cup champion and global soccer icon will headline a Super Bowl ad for Michelob Ultra, the brand announced Thursday. It’ll be Messi’s first Super Bowl commercial and adds to his massive advertising reach in the U.S. and globally. The Super Bowl spot is part of the beer’s sizable investment in soccer. It’s also expected that Ultra will partner with the men's World Cup when it comes to the U.S., Canada and Mexico in 2026 — when Messi and Argentina will aim to defend their title. He scored twice in the most recent World Cup final in 2022 that Argentina won against France on penalty kicks.

Persons: — Lionel Messi, He’ll, Messi, Michelob, It’s, —, ”, Serena Williams, Tony Romo, Jimmy Butler, Rickie Fowler, Alex Morgan, Canelo Alvarez, ___ Organizations: MIAMI, Inter Miami, Anheuser, Busch, Copa America, Messi, Adidas, Gatorade, International, Royal, Apple, Super, advertising's, Bushwood Country, Dallas Cowboys, Miami Heat, Argentina, France, League Locations: football’s, U.S, Las Vegas, Canada, Mexico, Argentina, Royal Caribbean, “

Visa has taken over the title sponsorship of Red Bull's second team, which has been called Scuderia AlphaTauri since 2020 when Red Bull put its fashion label on its two junior cars. The team said Wednesday it will be called Visa Cash App RB F1 Team when Daniel Ricciardo and Yuki Tsunoda start the season. The team was known as Scuderia Toro Rosso — the Italian translation of Red Bull — from its 2006 debut season until 2020. Visa's deal with Red Bull is for three years, its senior vice president of global sponsorship strategy told The Associated Press. Visa becomes the third billion-dollar American company to join Red Bull as a sponsor in the last two years; Oracle is the title sponsor of the main two Red Bull cars, while Hard Rock International also launched a partnership.

Persons: Red, Red Bull, Daniel Ricciardo, Yuki Tsunoda, Toro Rosso —, Bull, Andrea Fairchild, ” Fairchild, “, ”, Max Verstappen, Sergio Perez, there's, Catherine Ferdon, Cash Organizations: Visa, Formula, Red, Racing, Sauber, Red Bull's, Associated Press, F1 Academy, Red Bull, Oracle, Hard, American Express, Meta, “, NFL, F1, Brand Locations: United States, America

LAS VEGAS (AP) — The famous fountains at the Bellagio won't be very visible this week amid the roar of Formula One racing on the Las Vegas Strip, and gondoliers won't be serenading tourists at the Venetian resort. They hope Las Vegas will join Monaco on the leader board of host cities for Grand Prix events around the world. Green remembered Las Vegas Boulevard casino-hotels including the Dunes, Barbary Coast, Frontier, Silver Slipper, Sands, Desert Inn and Stardust. Huge properties new to the resort corridor include Resorts World, which opened in 2021, and Fontainebleu Las Vegas, due to open next month. “I think what what is happening is Las Vegas is becoming the epicenter of the 'fun economy,'” Feldman said.

Persons: Michael Green, ”, Green, “, They’re, Joshua Guray, Charles Flexer, Clark, Jim Gibson, Gibson, it’s, ” Vanessa Anthes, Andrew Walsh, Walsh, Wynn, Evel Knievel, Alan Feldman, Bo Bernhard, ” Bernhard, ” Feldman, Ty O'Neil Organizations: LAS VEGAS, Bellagio, Las, gondoliers, University of Nevada, ”, Vegas, Monaco, Grand Prix, MGM Resorts International, selfies, Las Vegas, One Las Vegas, Police, NHL Vegas Golden Knights, WNBA Las Vegas Aces, NASCAR, Vegas Motor, NFL, Allegiant, Hollywood, Cosmopolitan, International, Seminole Tribe, Caesars, Villa, Caesars Palace, International Gaming Institute, UNLV, Tourism Council Locations: Las Vegas, Long Beach , California, Williamsport , Pennsylvania, Clark County, ” Clark, Vegas, Harrah’s, Flamingo, Horseshoe, Paris Las Vegas, Florida, Barbary Coast, Sands, Los Angeles

☆ Building Boom on Mykonos Reveals ‘Wretched’ Side of Greece’s Recovery
▼ + stars: | 2023-05-20 | by ( Liz Alderman | Niki Kitsantonis | ) www.nytimes.com time to read: +2 min

Among them is Nammos, a jet-set playground featuring open-air luxury boutiques and a beachside restaurant, owned by Monterock International, a Dubai-based private equity holding company, and Alpha Dhabi Holding. On Friday, the government called for Nammos to be shuttered, and the police closed one of its beach restaurants. There is also Principote, a destination for the affluent that for years has expanded over Panormos Beach, along a picturesque bay, despite multiple citations. Principote, which is registered to a holding company in the Marshall Islands, has contested the infractions and resulting fines. In 1989, his father built small bungalows above Panormos, a public beach once accessible to all.

☆ Global Companies Are Finding It Hard to Leave Russia
▼ + stars: | 2023-03-02 | by ( William Boston | Jennifer Maloney | ) www.wsj.com time to read: 1 min

Shortly after Russia invaded Ukraine last year, many companies including British oil giant BP, said they would exit Russia. Moscow’s invasion of Ukraine triggered a wave of promises by global businesses to exit Russia. A year later, many of those companies are still there. Hard Rock International closed its Hard Rock Cafe in Moscow but says it is negotiating the end of a franchise agreement with an independent restaurant operator in St. Petersburg. Volkswagen AG, Europe’s biggest auto maker, stopped sales and production of cars in Russia and says it is in advanced discussion to sell its subsidiary there.

☆ Casino company Hard Rock to spend $100 million to raise employee wages
▼ + stars: | 2022-09-14 | by ( Contessa Brewer | Contessa Brewer Is A Correspondent For Cnbc. | ) www.nbcnews.com time to read: +2 min

Cheers and tears — that’s how thousands of Hard Rock workers reacted when they learned their paychecks are about to get a lot bigger. As inflation surges and recession fears linger, Hard Rock International and Seminole Gaming will spend more than $100 million to raise wages significantly for half of its U.S. workforce, more than 10,000 employees. In Florida, where the company is headquartered, some team members could get $16,000 more than the state’s minimum wage, Hard Rock said. Inflation is having an impact on the company, resulting in some softening in July, Allen said. Rising rates and pressure on people’s savings could put pressure on Hard Rock for the second half of 2022 and the first two quarters of 2023, he said.

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