MGM - AEG Arena
|Location||Las Vegas Strip
|Owner||MGM Resorts International
|Operator||Las Vegas Arena Operator, LLC|
|Broke ground||May 1, 2014|
|Construction cost||$375 million|
|Project manager||ICON Venue Group|
|Structural engineer||Thornton Tomasetti|
|Services engineer||M–E Engineers, Inc.|
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, 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. The arena is expected to be completed by early 2016.
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. 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. 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. 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. 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.
MGM and AEG announced their joint arena plan on March 1, 2013. 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, and the retention of prominent sports architecture firm Populous to design the project.
The project broke ground on May 1, 2014, followed by the demolition of existing buildings, and excavation of an oval area for the arena.
Tenants and events
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.
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