Gaming revenue on Fremont Street had peaked in fiscal year 1993. (later named MGM Mirage).Īlthough the Golden Nugget was profitable, it was not part of the master expansion plan of the corporation which was focused on consolidating a long stretch of the Strip by acquiring Mandalay Resort Group, building City Center, and beginning construction in Macau. In 2000, the Golden Nugget (and all of Mirage Resorts' other properties) was sold to MGM Grand, Inc. The second hotel tower opened in 1984 along with the showroom, and the third tower was opened in 1989. Frank Sinatra periodically headlined at the Golden Nugget. It was the foundation for Wynn's rise to prominence in the casino industry. In 1977, he opened the first hotel tower and the resort earned its first four-diamond rating from Mobil Travel Guide. Steve Wynn bought a stake in the Nugget, which he increased so that, in 1973, he became the majority shareholder, and the youngest casino owner in Las Vegas.
Jackie Gaughan at one time owned a stake in the hotel as part of his many downtown properties. The Golden Nugget was originally built in 1946, making it one of the oldest casinos in Las Vegas.
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