The Mirage Hotel and Casino ignited a ‘90s Las Vegas resurgence and ushered in Sin City’s megaresort era when it opened in 1989 as the world’s most expensive hotel construction project at the time with a $650 million budget.

For 34 years the 3,000-room property has drawn tourists and visitors with its luxe accommodations, an enormous human-made volcano and Cirque du Soleil attractions, and as the longtime home of one of Las Vegas’ most iconic pair of showmen and their troupe of white tigers, Siegfried and Roy.

But the landmark Las Vegas venue is closing on July 17 to make way for a three-year renovation and rebranding under new owners, Hard Rock International.

And the Mirage’s sidewalk fire-and-water volcano show will not survive the revamp as a 660-foot, guitar-shaped hotel tower is going up on the current site of the attraction.

“Over the next two months we will bid farewell to this iconic and historic property and then we will commence an incredible transformation,” the Mirage posted to its Facebook account on Wednesday. “We look forward to the beginning of an exciting journey into a new era as Hard Rock Las Vegas will ignite the Strip with entertainment, innovation and world-class hospitality.”

Casino mogul Steve Wynn was the developer behind the Mirage and would later up his game with the opulent $1.6 billion Bellagio, which spun its first roulette wheel in 1998, just up the Strip from the Mirage.

Wynn sold the Mirage to MGM Resorts in 2000 and it was acquired by Hard Rock International in 2022 for over $1 billion, per CNN. 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.

While many believed Hard Rock would execute a phased renovation and keep the property partially in operation throughout the work, the Wednesday announcement confirmed the company’s plans for a total shutdown and job losses for over 3,000 employees.

Amanda Belarmino, an assistant professor at UNLV’s William F. Harrah College of Hospitality, told the Las Vegas Review-Journal that Hard Rock’s decision to close could create some hard feelings among those who expected the property to stay open during renovations, a position property managers originally took.

“It is very sad for the workers, to see them laid off,” Belarmino said. “Unlike when the Hard Rock rebranded to Virgin, this is a late announcement that will cause issues with the employees and may leave a bitter taste in their mouths when it comes time to reopen. This may also cause issues for the Hard Rock in terms of hiring when they are ready to reopen.”

While the Las Vegas economy took an outsize hit amid pandemic conditions that limited both travel and group gatherings, the area saw continued recovery in 2023 with visitor traffic that never dipped below 3 million per month throughout the year and record levels of spending, according to a report from the Las Vegas Convention and Visitors Authority.

In 2023, the total economic output related to visitor spending in southern Nevada (including direct, indirect and induced impacts) rose to $85.2 billion, surpassing the all-time high set in 2022. While overall visitor traffic was still shy of its pre-pandemic volume in 2023, spending shot up 45% with each southern Nevada visitor dropping $1,261 over the course of their stays.