Advertisement
Advertisement
Boxingscene.com

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 Video: Robert Guerrero Talks Garcia-Rios, Spence-Peterson Video: Hugo Centeno Talks Jermall Charlo Clash, More Saunders Victory Makes For Three-Headed Middleweight Monster Chavez Jr. Waiting For Angulo Contract, Wants To Know Numbers Cletus Seldin: 2018 Will Be My Year, I'll Be Much Better Next Time Video: Brandon Rios Talks Danny Garcia Fight, More Video: Nonito Donaire Talks Carl Frampton Fight, More Photos: Yves Ulysse Drops, Schools Cletus Seldin Over Ten Luis Nery vs. Shinsuke Yamanaka Rematch Close To Deal Saunders: I'll School Golovkin or Canelo Like I Did Lemieux! Jeff Horn is Firm, Wants "Millions" To Face Terence Crawford Amir Khan Eager To Return: I'm Going To Fight in March Trainer: Saunders Could’ve Finished Lemieux, But Wanted Rounds Trainer Ingle Always Thought Saunders Could Become 'Superstar' Adrian Granat Finishing Up Camp For Upcoming Ring Return Photos: Billy Joe Saunders Schools David Lemieux Over Twelve Saunders: Lemieux Performance Will Scare Off Canelo, Golovkin Fury: Saunders Gives Golovkin Trouble, But GGG's Not Lemieux Stephen Tiffney Suffers First Defeat To Lewis Paulin in Paisley Natasha Jonas Moves To 4-0 In Oldham, Targets Titles In 2018 Photos: John Molina Blasts Out Ivan Redkach in a Wild War Tyson Fury: Joshua Can't Box, He's a Brawler, I Know The Truth Lemieux: I Couldn't Use My Left Hand; Saunders Ran All Night Saunders To GGG: You Wanted Me When I Was Fat - Fight Me Now! Hearn: I See Chance For Joshua vs. Fury By End of 2018 Video: Frank Warren Reacts To Saunders Dominating Lemieux Video: Dominic Ingle Reacts To Saunders Dominating Lemieux Video: Tyson Fury Reacts To Saunders Dominating Lemieux Mayweather Not Impressed With Loma Win: Rigo Too Small Video: Billy Joe Saunders Breaks Down Domination of Lemieux Trainer Pleads With Horn To Forget Crawford, Fight Mundine Billy Joe Saunders: I Look Easy To Hurt, But You Can't Hit Me! Billy Joe Saunders vs. David Lemieux - CompuBox Punch Stats Yves Ulysse: Everyone Thought I'd Get Beat - But Speed Kills! Saunders: Did I Not Tell You This Fight Would Be Easy? Billy Joe Saunders Makes Statement, Easily Dominates David Lemieux Billy Joe Saunders vs. David Lemieux - LIVE BoxingScene Scorecard Spike O'Sullivan Drops, Stops Antoine Douglas in 7th Round Yves Ulysse Dominates, Drops, Hammers Cletus Seldin Daigo Higa vs. Moises Fuentes on February 4 in Japan
Advertisement

Latest Active Forum Threads
Advertisement
Advertisement