How it started
Original Golden Nugget
The Golden Nugget Las Vegas opened in 1946 in Downtown Las Vegas. Over time, notable members of the ownership group included Jackie Gaughan and Steve Wynn. Wynn later became the majority stakeholder in 1973, making him the youngest casino owner in Las Vegas. Under Wynn, the casino brand expanded significantly. After gaining the controlling share, Wynn created Golden Nugget Companies Inc. The first hotel tower opened in 1977, which led to the property receiving a four-diamond rating from Mobil Travel Guide.
In 1980, the company opened the Golden Nugget Atlantic City (not to be confused with the current Golden Nugget Atlantic City) in New Jersey. The Las Vegas casino also expanded, with a second and third tower opening in 1984 and 1989, respectively, which included a showroom. The company's interest in Atlantic City did not last long because of frustration with state gaming regulators, and in 1987, the property was sold to Bally's Entertainment, eventually becoming Bally's Grand Hotel and Casino. In 1989, the company acquired the Nevada Club casino in Laughlin, Nevada, and rebranded it as the Golden Nugget Laughlin.
Mirage Resorts (1989-1999)
The company expanded into the Las Vegas Strip in 1989, with the opening of The Mirage. Following the completion, the company changed its name to Mirage Resorts. Financing the $630 million project largely with high-yield bonds issued by Michael Milken. The resort's high cost and emphasis on luxury meant that it was considered high risk at the time, though the project ended up being enormously lucrative. The hotel, with its erupting volcano and South Seas theme, ignited a $12 billion building boom on the Strip. Its construction is also considered noteworthy in that Wynn had set a new standard for Vegas resorts, and when it opened The Mirage was the first casino to use security cameras full-time on all table games. Known for its entertainment, the hotel became the exclusive venue for the Siegfried & Roy show in 1990, and in 1993 the hotel hosted the Cirque du Soleil show Nouvelle Expérience. Afterwards Wynn decided to invite Cirque to create Mystère for the soon-to-be-built Treasure Island resort next door. The company would later open other notable projects such as the Treasure Island Hotel and Casino and the Bellagio.
Acquisition by MGM Resorts
From Wikipedia’s article on Golden Nugget, Inc., shared under CC BY-SA 4.0.2