Las Vegas City Council, Cordish Co. Reach Deal For Arena Study

Tentative Plan Calls For Arena, Casino/Hotel And Entertainment District On About 20 Acres

The Las Vegas City Council yesterday "took what could be a giant step ... in getting a sports arena built in the city's downtown -- and luring an NBA or an NHL team," according to Dave Toplikar of the LAS VEGAS SUN. The City Council voted 6-0 to "enter into an exclusive agreement" with Baltimore-based Cordish Co. to "study the prospects of building an arena, a casino/hotel and an entertainment district on about 20 acres that includes the existing city hall." The "Exclusive Negotiation Agreement" provides a "two-year window for Cordish to study the feasibility" of the project. Cordish will "look into recruiting an NBA or NHL team and an arena operator," and the company also will "develop a strategy for getting tenants for what it calls a 'Live District' and for the casino/hotel" (LAS VEGAS SUN, 11/5). In Las Vegas, Alan Choate reports the agreement "calls for Las Vegas to contribute up to $150,000 for studies to evaluate the project, with Cordish paying for work beyond that amount." If the two-year agreement "expires without a development deal being reached, the city will keep the studies it paid for to use in marketing the property" (LAS VEGAS REVIEW-JOURNAL, 11/5).

PRO TEAM NOT THE ANSWER: In Las Vegas, Ron Kantowski writes, "If somebody coughs up $500[M] in a sluggish economy to build a new sports arena in downtown Las Vegas, we/they/it shouldn't monopolize it with 41 home games featuring" an NBA team. Some Las Vegas executives have said that instead of limiting the city to a "series of meaningless" games, Las Vegas would be "better served by building an arena for the kind of special events that have always packed ’em in here, even on a Tuesday night in December." Kantowski: "We’re talking U2, talking Springsteen, talking The Stones. We’re talking, really loud now, the National Finals Rodeo and Manny Pacquiao and the UFC and Supercross motorcycles and Billy Joel and John Cena and his pro wrestling pals" (LAS VEGAS SUN, 11/5).