MGM Resorts International and AEG have reached an agreement to develop a privately funded, 20,000-seat indoor arena in Las Vegas for sporting events, entertainment acts and other events.
The new arena will be developed in the heart of the Las Vegas Strip
The companies said the arena will be built on land west of the Las Vegas Strip, between the New York-New York and Monte Carlo hotel-casinos, and will anchor a revitalisation of the area, extending from Las Vegas Boulevard to Frank Sinatra Drive.
Retail shops and restaurants will be included in the project.
It will be financed with equity contributions from MGM Resorts and AEG and with additional funds from third parties.
