LAS VEGAS
AEG and MGM Resorts International have finalized transactional agreements formalizing the details of the previously announced joint venture to build a new arena project, which will be the centerpiece of a complete revitalization of the area between New York-New York and Monte Carlo resorts, extending from Las Vegas Blvd. to Frank Sinatra Drive.
They have selected Populous, designers of memorable sports, concert and entertainment venues around the world as the architect of record and designer for the new, approximately 20,000-seat indoor arena.
It’s anticipated the arena will break ground in summer 2014, with the grand opening projected for spring 2016. The project is expected to cost about $350 million and be financed with equity contributions from each of the partners as well as privately funded third-party financing.
