SBD/Morning Buzz

AEG, MGM Choose Populous To Design New Arena In Las Vegas

AEG and MGM Resorts Int’l have selected Populous to design a new arena in Las Vegas, according to Tim Romani, President & CEO of Icon Venue Group, the owner’s representative for the project. AEG and MGM announced last month they had formed a joint venture to build the privately-financed facility. The total project cost is $350M, of which $225-250M is hard construction costs.

The 20,000-seat arena is scheduled to break ground in the summer of '14 and open in the spring of '16. The site, between the New York-New York and Monte Carlo resorts, just off the Vegas Strip, is the centerpiece of a redevelopment by MGM, owner of those two properties. There is no proposed major league tenant for the arena, but it will be designed to NBA and NHL standards, similar to Sprint Center in K.C., Romani said.
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