Former Las Vegas casino executive Steve Wynn shared insights into the development and early success of The Mirage during a fundraising event for the Neon Museum, held at the Golden Nugget on Thursday. The event, part of the museum’s annual “Reflections of The Mirage” Duck Duck Shed celebration, brought together around 600 attendees to support the preservation of Las Vegas history.
Wynn Recalls Mirage’s Impact and Challenges
Wynn, now 84, recounted the process of assembling the land for The Mirage, including negotiations with former actress Grace Hayes, whose property was a key piece of the project. Hayes ultimately agreed to sell after Wynn presented his vision for the resort, receiving $2 million and lifetime access to a luxury suite at the Golden Nugget. This agreement paved the way for construction to begin in 1986.
Wynn also described the evolution of the resort’s signature volcano attraction, which replaced an earlier plan for an illuminated waterfall after technical difficulties were identified. The volcano became a major draw, featuring simulated eruptions with fire and water effects. Drawing inspiration from the Broadway musical “South Pacific,” Wynn incorporated themed entertainment and large-scale attractions, including performances by Siegfried & Roy and an educational dolphin habitat.
The Mirage’s Influence on the Las Vegas Strip
The Mirage opened in November 1989 at a cost of about $630 million. Despite skepticism from financial experts about its ability to generate enough revenue, the resort quickly became profitable, operating at full capacity and attracting tens of thousands of visitors on its opening day. Its success encouraged further investment in casino resorts along the Strip throughout the 1990s, setting a new standard for integrated resort development in Las Vegas.
The property, with over 3,000 hotel rooms and major entertainment productions, helped shape the modern Las Vegas experience and drew attention to the importance of themed attractions and large-scale entertainment in casino resort design.
Significance for Industry Stakeholders
The Mirage’s development marked a turning point for operators, affiliates, and suppliers in the gaming industry. Its immediate profitability and innovative approach to entertainment demonstrated the potential for large-scale investment and creative theming in resort projects. The property’s influence extended beyond its own operations, encouraging competitors to pursue similarly ambitious developments and contributing to the transformation of the Las Vegas Strip into a global entertainment destination.
The preservation of Mirage artifacts by the Neon Museum also highlights the ongoing importance of documenting industry history and learning from past successes and challenges.
Key takeaways
- Steve Wynn discussed the development and impact of The Mirage at a Neon Museum fundraiser.
- The Mirage opened in 1989 and quickly became profitable, influencing future resort projects.
- Challenges in land acquisition and attraction design shaped the resort’s development.
- The Mirage’s legacy continues through historical preservation and its influence on industry standards.