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LAS VEGAS Officials broke ground Thursday on a new, 20,000 seat arena along the Las Vegas Strip that would improve the city's chances of attracting professional sports teams and sate high demand for large scale events in Sin City.
Downtown business owners have spoken out against a plan to cover the remaining $52 million by taxing them.
MGM Resorts CEO Jim Murren said his company's venues turn away hundreds of events each year, signaling more than enough demand for an arena even though Las Vegas already has large scale event centers.
Boxing legend Floyd Mayweather arrived at the ceremony Thursday on a construction tractor and helped turn dirt at the site while confetti rained down from above.
Another recent arena proposal died after attempts to fund it through a sales tax hike hit a wall. That project, which was to be a collaboration Louis Vuitton Belt Cheap Price
city's planned arena would seek to be complementary to any other arena in town.
Casino company MGM Resorts International and sports and entertainment giant AEG are collaborating on the $350 million project, which is scheduled for completion in the spring of 2016. It will be the centerpiece of an 8 acre, tree lined entertainment and dining district dubbed "The Park," located near the New York New York and Monte Carlo casinos, between Las Vegas Boulevard and Interstate 15.
The privately funded project is the furthest along of several arenas proposed for Las Vegas in recent years. Mayor Carolyn Goodman has championed a $390 million, 20,000 seat arena near a new performing arts center and outlet malls in Las Vegas' revitalized downtown. But critics take issue with the finance plan, which calls for $151 million from developer Cordish Co. and $187 million in city issued bonds that would be paid off with arena revenue.
between AEG and casino company Caesars, called for a 1 percent sales tax on purchases within a 3 mile radius. A ballot measure failed to make it to a statewide vote in November 2012.
AEG break ground on Vegas arena
Mayor Carolyn Goodman said the project is moving forward, telling the Las Vegas Sun that the Guess Belt
The Thomas Mack Center on the campus of the University of Nevada, Las Vegas opened in 1983 and hosts events such as the NCAA Mountain West Conference men's basketball tournament and National Finals Rodeo. It has a capacity of about 19,500 spectators for Hugo Boss Belt boxing events, and under 19,000 for Louis Vuitton Belt Men
Three casinos have other large arenas around town, including MGM Resorts' Mandalay Bay Events Center. It can seat 12,000. The parent company's MGM Grand Garden Arena opened in 1993 with a capacity of just under 17,000 spectators. The Orleans Arena opened in 2003 adjacent to Boyd Gaming Corp.'s Orleans casino hotel. It can seat about 9,500 for boxing, and just under 8,000 for hockey and basketball. It formerly housed the professional minor league Las Vegas Wranglers hockey team.
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