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SBD/March 4, 2013/Facilities
MGM Planning Privately Funded Las Vegas Arena With AEG, May Pull UNLV Pledge
Published March 4, 2013
THE LION'S ROAR: In Las Vegas, Snel & Stutz reported the Las Vegas “arena race drew a new deep-pocketed competitor,” as the MGM-AEG project is to be done “without a nickel of public money.” MGM “did not offer a price tag or drawings” for the project. Construction “should take 24 to 30 months after a late-2013 groundbreaking.” MGM “moves to the head of the pack of contenders aiming to build an arena in the Las Vegas market.” MGM’s arena will “proceed without a tenant such as an NBA or NHL team.” MGM Resorts Chair & CEO Jim Murren said the design process is “well along.” He added that MGM “would seek the proper zoning and Clark County approvals.” AEG was “originally connected with an arena development planned by Caesars Entertainment Corp.” That project “died when a judge ruled against a public vote on a local sales tax to help pay for it” (LVRJ.com, 3/1).