iOS app Android app More

MGM, AEG to develop 20K seat Las Vegas Strip arena

stumbleupon: MGM, AEG to develop 20K seat Las Vegas Strip arena   digg: US Works With Sudan Government Suspected Of Aiding Genocide   reddit: MGM, AEG to develop 20K seat Las Vegas Strip arena   del.icio.us: MGM, AEG to develop 20K seat Las Vegas Strip arena

KEN RITTER | June 18, 2013 01:33 PM EST | AP


LAS VEGAS — Casino giant MGM Resorts International and entertainment company AEG say they've inked a deal to build a 20,000-seat Las Vegas Strip arena.

Officials with Las Vegas-based MGM Resorts and Los Angeles-based AEG say the joint venture will provide a centerpiece for a renovation of the area from Las Vegas Boulevard to Frank Sinatra Drive between the New York-New York and Monte Carlo resorts.

Groundbreaking for the $350 million arena is expected next summer, with completion by spring 2016.

The companies say an unnamed privately funded third-party will also provide financing.

MGM Resorts International Chairman and Chief Executive Officer Jim Murren calls finalizing the agreement a project milestone.

The international design firm Populous has been hired to design the arena with premium seating and hospitality areas for entertainment and sports events.