MGM - AEG Arena

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MGM - AEG Arena
Location Las Vegas Strip
Paradise, Nevada
Coordinates 36°06′10″N 115°10′42″W / 36.1028°N 115.1782°W / 36.1028; -115.1782Coordinates: 36°06′10″N 115°10′42″W / 36.1028°N 115.1782°W / 36.1028; -115.1782
Owner MGM Resorts International
AEG Live
Operator Las Vegas Arena Operator, LLC
Capacity Boxing: 20,000
Concerts: 12,000–20,000
Basketball: 18,800
Hockey: 17,500
Construction
Broke ground May 1, 2014
Opened 2016
Construction cost $375 million
Architect Populous
Project manager ICON Venue Group[1]
Structural engineer Thornton Tomasetti[2]
Services engineer M–E Engineers, Inc.[3]
General contractor Hunt/Penta[4]
Website
Homepage

The MGM - AEG Arena is a $350 million, 20,000 seat indoor arena under construction on the Las Vegas Strip in Paradise, Nevada. The arena will be owned and operated by the Las Vegas Arena Company,[5][6] a joint venture between MGM Resorts International and AEG Live.

The arena will be accessed by a new development project known as "The Park", with retail and dining space between New York-New York and the Monte Carlo casino hotels.[7][8][9] The arena is expected to be completed by early 2016.[10]

History[edit]

The Anschutz Entertainment Group first tried to build an arena in Las Vegas in association with Harrah's Entertainment. In 2007, the joint venture announced they would build a 20,000 seat stadium behind the Bally's and Paris casino-hotels.[11] Caesars Entertainment, Inc. had previously envisioned using the location to build a baseball park, but the company's buyout by Harrah's cancelled the plans. Through the following year, Harrah's got uncertain on continuing with the project, not knowing if AEG would split the costs, and whether building a major league-ready stadium without a guaranteed franchise to play on it would be feasible given the enduring financial crisis.[12] The original plans were to break ground on June 2008 and finish the arena in 2010, but by 2009, it was revealed the stalled project had not even done a traffic study despite being located near a busy intersection.[13] In 2010, the plans were changed to use an area behind the Imperial Palace. However, given the financing would require a special taxation district, opposition from Clark County regarding using public money in the project stalled it even further.[14] AEG eventually backed out completely by 2012, once MGM Resorts International came up with their own project using a terrain behind the New York-New York and Monte Carlo resorts. This attracted AEG primarily for not relying on public funding.[15]

MGM and AEG announced their joint arena plan on March 1, 2013.[16] Plans were further fleshed out over the following months with the announcement of a $100-million pedestrian shopping area to serve as a gateway to the arena,[17] and the retention of prominent sports architecture firm Populous to design the project.[18]

The project broke ground on May 1, 2014,[19] followed by the demolition of existing buildings, and excavation of an oval area for the arena.

Tenants and events[edit]

UFC president Dana White said that he had been "promised" the privilege of hosting the first sporting event at the arena, and that the mixed martial arts promotion would consider holding more events at the new arena.[20]

The arena has been considered a potential home venue for a possible National Hockey League expansion team in Las Vegas.[21][22][23]

References[edit]

  1. ^ Snel, Alan (November 5, 2013). "AEG, MGM Resorts International Offer First Look at Arena on Las Vegas Strip". Las Vegas Review-Journal. Retrieved May 8, 2014. 
  2. ^ Jones, Jenny (February 18, 2014). "New Arena Design Reflects Las Vegas’s Milieu". Civil Engineering. Retrieved May 8, 2014. 
  3. ^ "Designing a Winning Sports Venue". Consulting-Specifying Engineer. April 27, 2014. Retrieved November 22, 2014. 
  4. ^ Robison, Jennifer (December 22, 2013). "Las Vegas Construction Poised to Prosper in 2014". Las Vegas Review-Journal. Retrieved May 8, 2014. 
  5. ^ "Securities and Exchange Commission 10-K filing for MGM Resorts International" (PDF). March 3, 2014. p. 11 of 241. Retrieved November 14, 2014.  - HTML page
  6. ^ "SEC Filings for MGM Resorts International - Form 10-Q". May 8, 2014. Retrieved November 14, 2014. 
  7. ^ Ritter, Ken (June 18, 2013). "AEG, MGM to Develop 20,000 Seat Las Vegas Strip Arena". The Denver Post. Retrieved June 18, 2013. 
  8. ^ "Las Vegas Getting 20K-Seat Arena". FoxSports.com. June 18, 2013. Retrieved June 18, 2013. 
  9. ^ Collison, Kevin (June 18, 2013). "KC-Based Firm Populous to Design New Arena in Las Vegas". The Kansas City Star. Retrieved June 18, 2013. 
  10. ^ Snel, Alan (April 17, 2014). "AEG-MGM Arena Project to Break Ground May 1". Las Vegas Review-Journal. Retrieved May 8, 2014. 
  11. ^ ESPN - Vegas, baby? Arena envisioned to draw pro team to city - ESPN
  12. ^ Benston, Liz (September 27, 2008). "Harrah’s still wants arena, but how much will it pay?". Las Vegas Sun. Retrieved 2010-09-05. 
  13. ^ "Insiders Tight Lipped on Las Vegas Arena". KLAS-TV. January 20, 2009. Retrieved April 7, 2015. 
  14. ^ Las Vegas foundation drops arena effort
  15. ^ "MGM & AEG Building a 20,000-Seat Arena on the Las Vegas Strip". Billboard. Associated Press. June 19, 2013. Retrieved April 7, 2015. 
  16. ^ "MGM Resorts announces plan for 20,000-seat arena". Las Vegas Sun. March 1, 2013. Retrieved January 21, 2015. 
  17. ^ Stutz, Howard (April 18, 2013). "MGM has grand plans with trendy plaza, sports arena". Las Vegas Review-Journal. Retrieved January 21, 2015. 
  18. ^ Snel, Alan (June 18, 2013). "World-famed architect announced for MGM arena". Las Vegas Review-Journal. Retrieved January 21, 2015. 
  19. ^ Snel, Alan (May 1, 2014). "Shovels in the Ground, Confetti in the Air as MGM/AEG Arena Construction Begins". Las Vegas Review-Journal. Retrieved May 8, 2014. 
  20. ^ Morgan, John (May 1, 2014). "Dana White: UFC will christen $375 million Las Vegas Arena". Retrieved November 14, 2014. 
  21. ^ "NHL says no credibility to report of Las Vegas expansion team". Las Vegas Sun. August 27, 2014. Retrieved August 28, 2014. 
  22. ^ "NHL denies expansion report, including a second team in Toronto". Toronto Star. August 27, 2014. Retrieved August 28, 2014. 
  23. ^ "Maloof family joins effort to land Las Vegas NHL team". Las Vegas Review-Journal. Retrieved 13 November 2014. 

External links[edit]