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‘Magic Kingdom’ of sports planned for Vegas
Ultimate Sports Entertainment unveiled plans in Las Vegas for what it called the world’s first sports-mega-resort complex — a $4 billion project to include 5,500 hotel rooms, ten sports arenas, a 150,000 square foot casino and a 750,000 square foot convention center.
The project is based on a hybrid “casino,” “destination,” and “sports” business model, say the project’s backers.
“Forty million people visit Las Vegas every year with live entertainment dollars to spend but there are very few entertainment options between the hours of 9 a.m. and 7 p.m.,” said Matt Rose, president and CEO of Ultimate Sports.
The planned project will create a global sports Mecca in Las Vegas, he said.
Mr Rose added:
“The venue, hotel and food and beverage revenue generated through hosting countless regional and national competitions will in and of itself ensure profitability before the first gaming-related dollar is counted.”
The resort is located on a 116-acre tract near the Las Vegas Speedway, which is an apparent key to its appeal.
“Sports are the number one entertainment genre in the world, and we firmly believe a predominant portion of the 40 million annual visitors to the Las Vegas Strip will want to drive less than 15 minutes to experience the sports world’s answer to Disneyland,” said Mr Rose.
No timetable was released for the project.
Report by David Wilkening
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