How Las Vegas May Finally Get Their Pro Team.
The powers that be over at MGM resorts are really pushing the big arena bucket. Already with the MGM Grand and news last month of partnering with Rock in Rio to build a Vegas version of a City of Rock, they went ahead and broke ground on the 1st of May for yet another large event venue. Amidst a stream of confetti, MGM CEO Jim Murren and AEG CEO Dan Beckerman dug their shovels into the desert as a symbol of commitment to this 20,000 seat project.
One of the most prominent arena and entertainment companies on the planet, AEG has yet to start a project that it can’t finish. So when they declare that the doors to this new arena will open up in Spring of 2016, it’s going to open up in the Spring of 2016. With more luxury seating options and overall opulence, it is expected to bring in more live shows and events than ever before seen in Vegas.
The idea is to have an arena that will house the already widely popular UFC events that are currently being held at the MGM Grand and be built to handle both hockey and basketball games. Boxing champ Floyd Mayweather has never been shy about his desires to own a professional team, and with pressure being put on the LA Clippers owner to bow out from the game gracefully (if that is even possible at this point) the rumors are already flying that they will soon become the Las Vegas Clippers. And how convenient of his favorite Vegas resort to have a court all ready set up for them.
Even if the pro team idea falls through, this new MGM project is expected to bring in millions of dollars in revenue. Just by moving the UFC events to this larger stadium, the MGM stands to earn almost a million dollars more for every event. That’s no chump change. In addition, they plan on booking anywhere from 100 to 150 concerts and shows each year.
The investors are going to need it. With a $375 million dollar price tag, this is going to be the arena that other arenas dream of being. The 16 acre site is nestled between the back ends of the New York-New York and Monte Carlos hotels and will be connected to the strip via a plaza and outdoor mall. In addition to the high end seating chart expect to find upscale dining and even a nightclub inside of the arena.
The promenade that is expected to easily connect visitors to the new MGM-AEG arena is already under construction. With plenty of grass and trees, this park like outside venue is being built to rival The Linq over at the Flamingo and has already opened a few of its new concepts. Slated for the future are, among other things, a theatrical sushi bar-lounge and something called a Beer Garden. That name alone warrants a walk through the new park.
MGM resorts can never be accused of low-key, and by partnering with a world renowned arena builder like AEG, we can only expect that this newest Vegas super structure will be like nothing ever seen before. Not even in Vegas.