Miley Cyrus bid farewell to her popular Disney series Hannah Montana with a casino-themed bash at h.wood, an L.A. lounge. Joined by her castmates, including Emily Osment, the actress was running around, dancing and singing along as the deejay spun songs like her hit "Party in the USA." Revelers also enjoyed sushi, hot dogs and fries and a doughnut cart. As for special drinks, guests sipped on blended iced tea. Will Smith also briefly stopped by to drop off his kids, Willow and Jaden.

http://www.people.com/people/news/0,,,00.html

So is the show ending or was it just a wrap party?

^^^ Both. They just shoot the last episode (I'm sure) and were celebrating. July 11th starts the final season on HM.