The Monte Carlo Resort and Casino in Las Vegas is officially no more, after MGM Resorts International officially shed the property of its name for a new identity.

Transforming into Park MGM as part of a $550m upgrade and rebrand first revealed in 2016, and set for completion later this year, new tower signage and fresh exterior marquee have been hailed as a significant and major milestone.

MGM Resorts are partnering on the project with Sydell Group, the New York based owner, developer and manager of luxurious boutique hotels, who will see a Las Vegas version of its own NoMad brand encapsulated within the property.

With redevelopment beginning with the opening of 5,200 seat Park Theater in December 2016, several new aspects have since been unveiled, including a remodeled casino floor, sportsbook and bar, reimagined guestrooms and suites, and several food and beverage outlets amongst a host of others.

This is a trend that MGM states is to continue through the year, via the launch of fresh dining concepts and additional nightlife as well as a number of other new elements.

Jim Murren, Chairman and CEO of MGM Resorts, commented: “The opening of Park MGM, and soon NoMad, will tie together the entire neighbourhood we’ve created with The Park, T-Mobile Arena and CityCenter.

“We are grateful to Andrew and the team at Sydell Group for sharing our vision to deliver a destination that embraces its surroundings and speaks to a new generation of travellers.”

The second part of the project, described as a separate distinct experience, sees the opening of a 292 room NoMad hotel encompassing the tower’s top four floors.

Featuring a dedicated entrance and lobby, high-limit gaming and a private pool environment, NoMad Las Vegas is currently slated to open in Autumn of this year.

Andrew Zobler, founder and CEO of Sydell Group, added: “It’s a very special moment seeing this ambitious idea begin to come to life. Together with MGM, we were able to rethink every element of the guest experience and create something personal on a grand scale.”