Unfortunately, the most memorable part of the old MGM Grand was the tragic accident that occurred on November 21, 1980. With a death toll of 85, it became the deadliest disaster in Nevada history, and the third-deadliest hotel fire in modern US history. 

The fire came from a refrigerated pastry display case in one of the casino restaurants. Because it was built prior to 1979, the MGM Grand was exempt from certain fire safety guidelines; the hotel didn’t even have a sprinkler system. The majority of their fire protection was in the money-counting area, and they refused to install a second fire hose in the showrooms for years after they opened.

The fire had a myriad of effects on both the state and the company. It led to a total reform in Nevada fire safety guidelines, and was a massive blow to the state’s income, causing an estimated loss of $1.7 million.

For MGM, the fire was even worse. Compounding the actual property damage, MGM faced various legal difficulties that severely hurt the company. They had to cancel their plans to create a new resort in Atlantic City, and had to deal with almost $1 billion worth of lawsuits. Investors became wary of MGM after seeing how quickly their investments could disappear. 

After the fire, the hotel reopened quietly on July 29, 1981. In 1986, the MGM Grand was purchased and rebranded by Bally Manufacturing. In 2005, it was bought by Harrah’s Entertainment, who rebranded it to the Horseshoe Las Vegas in 2022. That same year, it became the first property on the Las Vegas Strip to host the World Series of Poker.