Advertisement
Advertisement

MGM Resorts, AEG Plan To Develop New Las Vegas Arena

LAS VEGAS -- MGM Resorts International (NYSE: MGM) and AEG today announced the companies have entered into an agreement to pursue the development of a privately funded, 20,000-seat indoor arena in Las Vegas on land located west of the Las Vegas Strip, between New York-New York and Monte Carlo.  The new arena would be a venue capable of hosting boxing and other sporting events, major headline entertainment, and other special events.

The arena will be the centerpiece of a complete revitalization of the area between New York-New York and Monte Carlo, extending from Las Vegas Boulevard to Frank Sinatra Drive. The overall project will involve new retail shops, dining and entertainment offerings, both between the two properties and along their frontage on the world-famous Las Vegas Strip.

Jim Murren , MGM Resorts Chairman and Chief Executive Officer said, "This project will help our company optimize our existing assets at New York-New York, Monte Carlo, CityCenter, and beyond.  This new facility would be an extension of our entertainment legacy and continue our leadership position in the worlds of boxing, sports, concerts and other events that drive significant visitation and revenue to Las Vegas.  AEG's dominant position in arena development, programming and management, makes it an ideal partner for this venture."

AEG President & Chief Executive Officer Timothy J. Leiweke said, "We are proud to announce this new venture with MGM Resorts International to build a state-of-the-art arena. Our extensive sports and music assets together with our global network of venues, including arenas in key west coast markets such as Seattle, Portland, Oakland, Los Angeles, and San Diego, will allow us to maximize booking and operations opportunities.  This partnership with MGM brings together the two largest promoters and operators of live entertainment venues in Las Vegas, guaranteeing the long-term success of the new arena."  

The project is anticipated to be financed with equity contributions from each of the partners as well as privately funded third-party financing.

"The combination of MGM and AEG along with the superior Las Vegas Strip location is already driving strong interest from potential investors in this exciting new development," said Mr. Murren.

Design and planning is well underway and the partners will begin seeking appropriate approvals immediately.

Tags:
User Comments and Feedback (Register For Free To Comment) Comment by M0NZ0N on 03-06-2013

Don't they have plans to build a 100 yard TV screen at the UNLV Football stadium too?

Comment by BabyFaceAssasin on 03-06-2013

[QUOTE=wja1966;13111690]A bit disappointed with the attendance. 20,000 it should be more like 35,000. In Britain we can get 20,000 fans for a British title fight, for a massive world title fight the new stadium should hold a lot more[/QUOTE] Vegas…

Comment by OnePunch on 03-05-2013

Since this is an MGM / AEG deal, and AEG is the 2nd largest shareholder of Golden Boy stock, I dont think Bob will be getting any great deals on using that arena lol

Comment by Kenny MF Powers on 03-05-2013

lol edgargle****... Still riding Arum as usual. You're a failure bro.

Comment by wja1966 on 03-05-2013

A bit disappointed with the attendance. 20,000 it should be more like 35,000. In Britain we can get 20,000 fans for a British title fight, for a massive world title fight the new stadium should hold a lot more

Post a Comment/View More User Comments (11)
Top Headlines Dillian Whyte: I Got a 2 Year Ban, Browne Got 6 Months For PED! Golovkin's Coach: Kovalev Will Be Too Much For Andre Ward! Photos: Tony Bellew Grabs WBC Title With Vicious KO of Makabu Photos: David Price, Paul Smith Rack Up Big Wins in Liverpool Daily Bread Mailbag: Kovalev-Ward, Canelo-GGG, Crawford, More David Price is Hungry To Get His Hands on Anthony Joshua Hearn: If Haymon Brings Sack of Money - Burns vs. Broner in Vegas Andre Berto Targets Danny Garcia: I Want To Make a Statement! "Fighting Words" - The Revolving Door and Boxing's Changing Faces Mayweather Continues To Push a McGregor PPV With Poster Gervonta Davis is Set To Face Mario Rorozco on Barthelemy-Bey Photos: Orlando Salido Arrives in LA For Francisco Vargas War Mosley Tabs Porter Over Thurman: He Has Better Chin, Endurance Hearn: Badou Jack-Callum Smith is The Fight We're Pushing For Mares: Don't Rule Out Possibility of Cuellar Getting Knocked Out! Deontay Wilder's Handlers Reach Out To Alexander Ustinov Kosei Tanaka Stops Rene Patilano in Six Rounds in Nagoya, Japan Video: Shane Mosley Jr. Reflects on Win, The Future, More Tony Bellew: I'll Face That Bitch David Haye on That Joker Channel! Denis Shafikov, Joel Diaz Jr. To See Action on June 11 in El Monte Tony Bellew Gets Off The Deck, Brutal KO of Makabu For WBC Belt Video: David Avanesyan, Trainer Talk Win Over Shane Mosley Stephen Smith, Sean Dodd, Scott Fitzgerald All Victorious Video: Roberto Duran on Mosley Defeat To Avanesyan David Avanesyan Will Be Ringside To Scout Thurman vs. Porter Callum Smith Stays on Course For Title Shot, Get TKO in Six Ricky Burns Ready For Revenge on Crawford, Broner Showdown Video: Shane Mosley Talks About Loss To David Avanesyan David Price Returns in Style With Quick Knockout Victory Holyfield Believes Anthony Joshua Could Break Marciano's Record Bellew vs. Makabu LIVE Results From Goodison Park Frank Warren Questions Hearn's Position on Joshua vs. Haye James DeGale's Coach Confident: Badou Jack is Tailor-Made For Us Hearn: Eubank is Bigger UK Fight For Golovkin Than Saunders Golovkin's Coach: Only GGG Fight Brings Mayweather 100 Million! Bellew: I'll Fight That Bitch David Haye, He's Degrading Boxing! Photos: Ricky Burns Makes History, Blasts Di Rocco For WBA Belt Bellew vs. Makabu: Sean Dodd Looks To Enter The World Scene Viktor Postol Motivated By Underdog Role Against Crawford Arum: If Mayweather Wants Pacquiao, Let Him Come To Manila
Advertisement

Latest Active Forum Threads
Advertisement
Advertisement