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Closer Look at AEG, MGM's $350M Arena

LAS VEGAS-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.

By Natalie Dolce | Updated on November 18, 2013

LAS VEGAS-JV partners AEG and MGM Resorts International expect to break ground in April 2013 on the new sports and entertainment venue, which will be located on the strip here. 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. 

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