Former Las Vegas casino executive Steve Wynn discussed the development and financial performance of The Mirage during a Neon Museum fundraiser at the Golden Nugget on Thursday, highlighting the resort’s role in reshaping the Las Vegas Strip.
The 84-year-old addressed approximately 600 attendees during a nearly two-hour presentation held as part of the museum’s annual “Reflections of The Mirage” Duck Duck Shed celebration, which raises funds for historical preservation.
The Mirage opened in November 1989 at a cost of approximately $630 million, despite concerns among financial experts about whether the property could generate sufficient revenue to cover its operating expenses.
Wynn said the resort became profitable almost immediately, attracting tens of thousands of visitors on its opening day and operating at full capacity across its facilities. The property, which featured 3,044 hotel rooms, major entertainment productions and large-scale attractions, helped encourage further investment in casino resorts along the Strip throughout the 1990s.
Wynn also described challenges in assembling the land required for the development, particularly negotiations with former actress Grace Hayes, who owned a property that had previously attracted unsuccessful purchase attempts by businessman Howard Hughes.
The Mirage closed in doors in July 2024
Hayes, who had lived at the property with her late husband, screenwriter Robert Hopkins, eventually agreed to sell after Wynn presented a model of the proposed resort.
She reportedly received $2 million for her home and the neighboring property, along with lifetime access to a luxury suite at the Golden Nugget. The agreement allowed construction of The Mirage to begin in 1986.
Wynn said the resort’s volcano attraction emerged after lighting designer David Hersey identified technical difficulties with an earlier proposal for an illuminated waterfall. The resulting volcano became a major attraction, featuring simulated eruptions involving fire and water.
Drawing inspiration from the Broadway musical “South Pacific,” Wynn incorporated themed attractions into the development. The resort also hosted performances by illusionists Siegfried & Roy and operated a dolphin habitat visited by school groups, including Clark County students studying marine biology.
The Mirage closed in July 2024 and is being replaced by a Hard Rock-branded resort featuring a guitar-shaped hotel tower. The Neon Museum has preserved artifacts from the former property as part of its efforts to document Las Vegas history.
On going guitar-shaped hotel tower by Hard Rock
Neon Museum Executive Director Aaron Berger, who joined Wynn onstage alongside his wife, Andrea Hissom, did not disclose how much money the fundraiser generated but said the event supported the museum’s work collecting firsthand historical accounts.
“I have to say it was exactly what I hoped for, which is really related to our program, which is capturing the stories, the first-person perspectives of individuals. And we obviously had the opportunity to do that with Mr. Wynn in a very public setting, as opposed to just sort of the more intimate ones that you see on Vegas Voices,” Berger said. “But it was just as revealing, just as intimate, just as engaging as if it was a one-on-one interview.”
Wynn, who owned the Golden Nugget from 1967 to 1989, was introduced at the event by his daughter, Gillian. The museum had announced his participation in July as part of its program examining The Mirage’s development and historical significance.
The appearance also drew attention to Wynn’s departure from the casino industry in 2018, when he resigned as chairman and chief executive of Wynn Resorts amid allegations of sexual misconduct, which he has denied.
Nevada gaming regulators subsequently fined Wynn Resorts $20 million in 2019 over its handling of complaints involving Wynn. He has continued making public appearances since leaving the industry.