City Council Approves Extension For Las Vegas Sports Arena

The Las Vegas City Council yesterday "approved yet another extension for REI Neon, which is negotiating with the city to build a sports arena and related development on about 70 acres of land'' near Charleston Blvd. and Main Street, according to Alan Choate of the LAS VEGAS REVIEW-JOURNAL. The negotiation now faces an April 17 deadline.  Mayor Oscar Goodman: "We are on a slippery slope as far as financing is concerned in the outside world. It is so tough." Baltimore-based Cordish Co. confirmed that it is "exploring a partnership with REI Neon." But Choate notes "the clock is still ticking" for the development firm as AEG and Harrah's Entertainment "have announced plans to build a sports arena on land behind Bally's and Paris Las Vegas." Goodman said of REI: "They realize AEG is out there. Whoever has that shovel in the ground first probably has the best chance of getting a major-league sports franchise in their arena" (LAS VEGAS REVIEW-JOURNAL, 2/21).