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MGM-AEG Vegas Arena Will Have Total Of 52 Suites, Half Of Which Have Been Sold

AEG and MGM Resorts believe that 44 luxury suites "between the lower and upper bowls" of their $375M arena being built in Las Vegas, and "eight event level -- or 'bunker' -- suites fit the local market," according to Alan Snel of the LAS VEGAS REVIEW-JOURNAL. The companies came to that assessment by "visiting arenas across the country and analyzing Las Vegas’ population and corporate demographics." Of the 44 luxury suites, 42 "will be sold for $170,000 to $235,000 per year, while the other two will be sold on a single event basis." Each 310-square-foot suite "provides 12 tickets per event, with the opportunity to buy four more." The twist is companies "have to commit to luxury or bunker suite deals of either five, seven or 10 years." MGM and AEG also are "offering a deal of combining three luxury suites into a single 'Grand Suite' of 36 tickets." AEG Senior VP/Global Partnerships Mark Faber said that the 700-square-foot bunker suites, "which are located just below the lower bowl and will offer access to 16 premium seats in the lower level, will cost considerably more than the luxury suites." He "declined to say exactly how much a bunker suite costs." Faber added that of the 52 luxury and event-level suites, "more than half have been sold." The luxury suites "have a contemporary design, complete with three tiers of sofa-style shared seating." There are "four stools for the quartet of extra ticketed guests." The suites also feature a "center table, which slides under a wall drink rail to offer social space, and a modern art-style ceiling light fixture" (LAS VEGAS REVIEW-JOURNAL, 2/8).

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