MGM, AEG to develop Las Vegas Strip arena
International firm Populous will design the 20K-seat, $350 million project — which will include hospitality areas for entertainment and sports events
Casino giant MGM Resorts International and entertainment company AEG say they’ve inked a deal to build a 20,000-seat Las Vegas Strip arena.
Officials with Las Vegas-based MGM Resorts and Los Angeles-based AEG say the joint venture will provide a centrepiece for a renovation of the area from Las Vegas Boulevard to Frank Sinatra Drive between the New York-New York and Monte Carlo resorts.
Groundbreaking for the $350 million (Dh1285 million) arena is expected next summer, with completion by spring 2016.
The companies say an unnamed privately funded third-party will also provide financing.
MGM Resorts International Chairman and Chief Executive Officer Jim Murren calls finalising the agreement a project milestone.
