MGM-Mirage is buying yet another property on the Las Vegas Strip. The property belongs to the owners of Sahara. It was the location of the first hotel on the Strip: El Rancho Vegas. The casino hotel burned down in 1960 and has been vacant since that time. MGM-Mirage is reportedly paying $444 million for the Las Vegas real estate.
It is anticipated that a mega resort similar to City Center will be developed.