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Harrah's, AEG Reveal Strip Arena Plans

LAS VEGAS-On the heels of plans for a sports arena in Downtown Las Vegas, the high-profile duo unveils plans for their own arena one block east of the Las Vegas Strip.

By Brian K. Miller | Updated on August 22, 2007

LAS VEGAS-Harrah’s Entertainment Inc. and AEG on Wednesday unveiled plans for a 20,000-seat, privately financed arena one block off the Las Vegas Strip. The development site is a 10-acre parcel directly behind the Bally’s and Paris resorts that is owned by Harrah’s. Subject to a signed letter of intent between the two organizations, and the completion of definitive documents, the plan calls for construction to commence in summer 2008.

The plan is seemingly in direct competition with the City of Las Vegas, which last month selected a preferred developer for a publicly funded 22,000-seat sports arena in Downtown Las Vegas. Just like the city’s vision, the Harrah’s-AEG arena would open in 2010 and be constructed and configured in a manner that will make it capable of housing an NBA or NHL franchise as well as concerts, boxing matches, special events and awards presentations, tournaments and exhibitions.

Without making specific reference to the Downtown project, a source with Harrah’s tells GlobeSt.com that the Strip arena project will be built, regardless of any competing project. The Harrah’s-AEG project has the necessary financing in place and will be complete by September 2010, she says.

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