SBD/November 5, 2013/Facilities

AEG, MGM Unveil Las Vegas Arena Design, With Groundbreaking Planned For Spring

Populous created the renderings of the arena, which will have a 5.4 acre footprint
AEG and MGM Resorts Int'l yesterday unveiled renderings of their $350M, 20,000-seat venue on the Las Vegas strip, "showing exterior images evoking the Strip's high energy and bright lights as well as Southern Nevada's scenic mountains and desert," according to Alan Snel of the LAS VEGAS REVIEW-JOURNAL. AEG and MGM Resorts have "joined forces to build the sports and entertainment venue without public money." Denver-based Icon Venue Group President & CEO Tim Romani, whose company is project manager for the arena, said that groundbreaking is "expected in April or May with a projected opening" in the spring of '16. AEG President & CEO Dan Beckerman said, "In Las Vegas, the design has to be iconic. It’s going to be one of the most recognizable and premier venues in the world." Snel notes Populous "created the exterior renderings of the building, which will have a 5.4-acre footprint." The arena will have "high-end premium seating and hospitality areas, including multiple bunker clubs and bunker suites" as well as "in-bowl sponsor zones" and "VIP drop-off areas." It will host "at least 100 concerts, boxing, mixed martial arts, sports, awards shows and other events each year." AEG and MGM are paying for the project "with equity contributions and a private third-party debt financing" (LAS VEGAS REVIEW-JOURNAL, 11/5).
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