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TheStreet Open House

First Renderings Of New Las Vegas Arena Unveiled By Project Developers AEG And MGM Resorts International

Stock quotes in this article: MGM

LAS VEGAS, Nov. 5, 2013 /PRNewswire/ -- Joint venture partners AEG and MGM Resorts International (NYSE: MGM), developers of a new world-class indoor arena in Las Vegas, have released the first images and details of the 20,000-seat sports and entertainment venue which will be located near the heart of the famed Las Vegas Strip and adjacent to the I-15 corridor.  

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/64298-aeg-mgm-resorts-new-indoor-arena-las-vegas-sports-entertainment-venue

(Photo:   http://photos.prnewswire.com/prnh/20131105/MM10097)

The images were unveiled as part of a project update by the ownership group for the new arena, which is expected to break ground in April 2014. The arena is being designed with an array of unrivaled premium offerings and club experiences as well as features that will make it immediately available to host NBA and NHL teams, concerts, boxing, mixed martial arts, family shows, award shows and other major events.

The arena, which will be the centerpiece of the revitalization of the area between New York-New York and Monte Carlo resorts, extending from Las Vegas Blvd. to Frank Sinatra Drive, is scheduled to open in the spring of 2016. The project's anticipated cost of approximately $350 million will be financed entirely with equity contributions from the partners and privately funded third-party debt financing.  In keeping with the partners' commitment to building responsibly, the arena is being designed to meet the U.S. Green Building Council's standards for LEED Gold Certification. 

Since its selection as the project's architect of record, Populous has worked closely with the project owners and their project manager, ICON Venue Group, to design an arena that will connect the contrasting influences of Las Vegas – the desert and Spring Mountains to the west and the pulsating, high-energy Las Vegas Boulevard to the east. To capture the excitement of The Strip, the design includes an expansive glass façade with an LED overlay; sweeping, dramatic balconies; an exterior performance stage and a sleek exterior that is as bold as it is sophisticated, creating a visually captivating and iconic focal point in Las Vegas' bustling entertainment market.

"As with arenas such as STAPLES Center in Los Angeles, London's The O2, Mercedes-Benz Arena in Shanghai and several others in the AEG Facilities portfolio, this new arena in Las Vegas is destined to be one of the most recognizable, respected and iconic venues in our industry," said Dan Beckerman, President and CEO, AEG. "From the diverse collection of unique and custom-designed premium seating and hospitality options to the variety of programming that will be booked, there will be offerings to appeal to the widest audience; from casino operators and their guests to international travelers and local residents, this will be world-class in every sense."

Brad Clark, Senior Principal at Populous and a lead designer of the arena, said "The design of the arena ensures we will create a truly striking entertainment venue for Las Vegas – representing the color, drama and excitement the city exudes. The arena will be an extension of The Strip's high energy – our job with the design was to stay authentic to that spirit."

The renderings highlight day and night exterior views of the arena which reaches 145' at the highest point of the roof.  A monumental glass entry façade with a giant LED overlay runs along the northeast side of the arena reaching a height of 118' at the parapet of the entry façade.

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