(Photo Credit: David Becker/Las Vegas Review-Journal)
Construction Begins on the 20,000-seat MGM/AEG arena in Las Vegas.
MGM AEG Arena Construction Begins | On a pleasant, sunny spring morning, MGM Resorts International and AEG officially launched the $375 million construction project with shovels hitting earth in a parking lot behind the Monte Carlo at 11:50 a.m. and confetti flying a few seconds later.
Demolition of existing buildings set for mid-month. Construction is expected to take 22 months, with a projected spring 2016 opening. The MGM/AEG Arena will be the centerpiece of an 8-acre, tree-lined entertainment and dining district dubbed “The Park,” located near the New York-New York and Monte Carlo casinos, between Las Vegas Boulevard and Interstate 15.
The 20,000-seat MGM/AEG arena plans to open without a National Basketball Association or National Hockey League tenant. That’s fine with MGM and AEG officials, who have crafted a business plan to tap a steady stream of mixed martial arts and boxing, concerts, award shows, college basketball and hockey tournaments and other sports. They anticipate about 100-150 events per year. The Las Vegas-based Ultimate Fighting Championship, the MMA fight event, promotion and media company, plans five or six annual fight shows at the new arena.
MGM Resorts International develops, builds and operates unique destination resorts designed to provide a total resort experience, including first-class accommodations and dining, world-class entertainment, state-of-the-art meeting and convention facilities, and high-quality retail and gaming experiences.
AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of the Anschutz Company, owns, controls or is affiliated with a collection of companies including over 100 of the world’s preeminent facilities such as STAPLES Center (Los Angeles, CA), Sprint Center (Kansas City, MO), Citizen’s Business Bank Arena (Ontario, CA), O.co Coliseum (Oakland, CA), Oracle Arena (Oakland, CA), Valley View Casino Center
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