Named to invoke the Place du Casino in Monte Carlo, after more than two decades bearing the name, the Monte Carlo Resort and Casino at South Las Vegas Boulevard has transformed into the Park MGM.  With the lighting of the new marquee and most of the hotel tower signs in place, the name change took place on Wednesday, May 9.

The rebrand includes a partnership between MGM Resorts International and Sydell Group.

Upon completion of the brand conversion of the 32-floor, 3,000-room hotel central Strip property, the project will reportedly comprise Park MGM and NoMad Las Vegas, a standalone boutique hotel with 292 guest rooms and suites, private swimming pool, casino and a NoMad restaurant and NoMad Bar, which will encompass the 360 foot tower’s top four floors, according to the press release.

Those wishing to check in to the new NoMad Las Vegas will, however, have to wait several months before they can do so. The Las Vegas Review-Journal reports that the transition will be complete by fall this year.

Drawing its inspiration from the original NoMad Hotel in New York, Sydell Group will reportedly collaborate on the design of NoMad Las Vegas with renown French designer Jacques Garcia who previously oversaw the design of the original NYC property.

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

For its part, MGM Resorts Chairman and CEO Jim Murren, said, “The opening of Park MGM, and soon NoMad, will tie together the entire neighborhood 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 travelers,” according to MGM.

MGM is reportedly investing upwards of $550 million on the complete makeover that was announced late in 2016 and began with the Lance Burton Theatre, which after being torn down opened as the 5,200-seat, 150,000 square foot Park Theater in December 2016.

Other changes that have already been unveiled include the opening of Primrose Restaurant and Bavette’s Steakhouse & Bar, the addition of meeting and convention space, a new look lobby and casino floor, three new pools with lounge areas and multiple bars, the new Juniper Cocktail Lounge, reimagined guest rooms and suites and Moneyline Sports Book & Bar.

The transformation will continue throughout this year as a new dining concept from Roy Choi will open, along with an Eataly marketplace, the launch of Lady Gaga’s special engagement at Park Theater and more.

President and COO of Park MGM, Patrick Miller, said, “It’s really going to be something different, not just for the Las Vegas visitor but to Las Vegans,” according to the Las Vegas Review-Journal.