LAS VEGAS, May 1, 2014 /PRNewswire/ -- Las Vegas Arena
Company, owned by AEG and MGM Resorts International (NYSE: MGM),
broke ground today on a world-class, privately funded, $375 million indoor arena set to open in spring
2016. Located west of the Las Vegas Strip, between New York-New
York and Monte Carlo resorts, the new 20,000-seat arena will host
boxing, UFC and other sporting events, major headline
entertainment, awards shows and special events.
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On-hand to welcome guests to the special ceremony, which
signaled the start of construction of the venue being built on a
16-acre site, were Dan Beckerman,
President & CEO of AEG and Jim
Murren, Chairman and CEO of MGM Resorts International.
Joining the partners to put the first shovels in the ground were
Chair of the Board of Clark County Commissioners Steve Sisolak, President of Ultimate Fighting
Championship Dana White, CEO of
Golden Boy Promotions Richard Schaefer, NBA and NCAA legend and
Hall of Famer Bill Walton, NHL
legend and Hall of Famer Luc
Robitaille and W B C Welterweight World Champion
Floyd Mayweather who took time away
from final preparations for his Saturday night title defense to
participate in this historic ceremony.
"We are committed to ensuring that Las
Vegas retains its title as Entertainment Capital of the
World for generations to come," said Murren. "The addition of this
world-class arena, which will attract new events to the market and
enable existing events to grow in scale, is an integral component
in that strategy. No destination can deliver the level of
energy and excitement found in Las
Vegas, where every day has the vibe of a big event day."
Beckerman said, "We are excited to be breaking ground today on
this iconic project. Together with MGM, we have designed an arena
with some of the most unique features, offerings and amenities for
our fans and sponsors. We look forward to bringing the best
sports and entertainment events to this new state-of-the-art arena
in one of the most vibrant entertainment markets in the world."
Expected to host more than 100 events annually, the arena
designed by industry-leading architect Populous, will house
multiple locker facilities, premium dressing rooms, complete
broadcast facilities and a variety of staging innovations that will
bring the biggest stars and most important events to Las Vegas' newest landmark. Designed to meet
the U.S. Green Building Council's standards for LEED® Gold
Certification, the arena will feature 50 luxury suites, more than
two dozen private loge boxes and other specially designed exclusive
hospitality offerings never before featured in a facility of its
kind.
Commission Chair Sisolak said, "This arena should symbolize for
everybody watching that Las Vegas
will continue to emerge from the recession a stronger, smarter,
healthier and more vibrant destination for international tourism.
Projects such as this create much-needed jobs and are true economic
drivers."
AEG Global Partnerships, an affiliate of AEG that collaborates
with more than 100 venues and other AEG assets worldwide to create
sales and marketing platforms, is overseeing the sale of naming
rights, sponsorships, premium seating and luxury suite sales for
the new Las Vegas
showplace.
About MGM Resorts International
MGM Resorts
International (NYSE: MGM) is one of the world's leading global
hospitality companies, operating a portfolio of destination resort
brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.
The Company also owns 51% of MGM China Holdings Limited, which owns
the MGM Macau resort and casino and is in the process of developing
a gaming resort in Cotai, and 50% of CityCenter in Las Vegas, which features ARIA Resort &
Casino. For more information about MGM Resorts International,
visit the Company's website at www.mgmresorts.com.
About AEG:
AEG is one of the leading sports and
entertainment presenters in the world. AEG, a wholly owned
subsidiary of the Anschutz Company, owns or is affiliated with a
collection of companies including over 100 of the world's
preeminent facilities such as STAPLES Center (Los Angeles, CA), StubHub Center (Carson, CA), Best Buy Theater (Times Square,
New York), Mercedes-Benz Arena (Shanghai, China), Allphones Arena
(Sydney, Australia) and The O2
arena and entertainment district (London,
England). Developed by AEG, L.A. LIVE is a 4 million
square foot/$3 billion downtown
Los Angeles sports, &
entertainment district featuring Nokia Theatre L.A. LIVE, Club
Nokia, and a 54-story, 1001-room convention "headquarters"
destination. In addition to overseeing privately held
management shares of the Los Angeles Lakers, assets of AEG Sports
include franchises such as the LA Kings, LA Galaxy and Houston
Dynamo and the Amgen Tour of California cycling stage race. Along
with AEG Facilities, other global divisions include AEG Live, the
world's second largest concert promotion and touring companies
comprised of touring, festival, exhibition, broadcast, merchandise
and special event divisions and AEG Global Partnerships,
responsible for worldwide sales and servicing of sponsorships,
naming rights and other strategic partnerships. In 2010, AEG
launched its AEG 1EARTH environmental program featuring the
industry's first sustainability report while in 2011, AEG
introduced AXS a comprehensive entertainment platform serving as
the company's primary consumer brand including AXS Ticketing which
provides fans the opportunity to purchase tickets directly from
their favorite venues via a user-friendly ticketing interface,
Examiner.com and the AXS TV network. For additional information,
visit www.aegworldwide.com
Statements in this release that are not historical facts are
forward-looking statements involving risks and/or uncertainties,
including those described in MGM Resorts International's public
filings with the Securities and Exchange Commission. MGM Resorts
International has based forward-looking statements on management's
current expectations and assumptions and not on historical facts.
Examples of these statements include, but are not limited to,
statements regarding the ability of Las Vegas Arena Company to
develop a new arena in Las Vegas
and/or obtain finance such project. These forward-looking
statements involve a number of risks and uncertainties. Among the
important factors that could cause actual results to differ
materially from those indicated in such forward-looking statements
include effects of economic conditions and market conditions, the
design, timing and costs of expansion projects, risks relating to
permits, licenses, financings, approvals and other contingencies in
connection with growth in new or existing jurisdictions and
additional risks and uncertainties described in MGM Resorts
International's Form 10-K, Form 10-Q and Form 8-K reports
(including all amendments to those reports). In providing
forward-looking statements, MGM Resorts International is not
undertaking any duty or obligation to update these statements
publicly as a result of new information, future events or
otherwise, except as required by law.
![Celebration commences at groundbreaking of the $375 million arena coming to the famed Las Vegas Strip in 2016 in partnership between AEG and MGM Resorts International. Celebration commences at groundbreaking of the $375 million arena coming to the famed Las Vegas Strip in 2016 in partnership between AEG and MGM Resorts International.](http://www.multivu.com/assets/7150351/photos/7150351-1-md.JPG)
![Rendering for new Las Vegas arena, a 20,000-seat sports and entertainment venue scheduled to open in 2016. The arena is a partnership between AEG and MGM Resorts International. Rendering for new Las Vegas arena, a 20,000-seat sports and entertainment venue scheduled to open in 2016. The arena is a partnership between AEG and MGM Resorts International.](http://www.multivu.com/assets/7150351/photos/Arena_Plaza_at_Night-md.jpg)
![Balcony view from the new Las Vegas arena looking toward New York-New York on the Las Vegas Strip. Scheduled to open in 2016, the $375-million, 20,000-seat arena is a partnership between AEG and MGM Resorts International. Balcony view from the new Las Vegas arena looking toward New York-New York on the Las Vegas Strip. Scheduled to open in 2016, the $375-million, 20,000-seat arena is a partnership between AEG and MGM Resorts International.](http://www.multivu.com/assets/7150351/photos/Arena_Balcony_Strip_View-md.jpg)
To view the multimedia assets associated with this release,
please click:
http://www.multivu.com/mnr/7150351-aeg-mgm-resorts-international-new-las-vegas-arena-debut-spring-2016
SOURCE MGM Resorts International