First Renderings Of New Las Vegas Arena Unveiled By Project Developers AEG And MGM Resorts International
Joint Venture Releases First Images of Privately Funded 20,000-Seat Indoor Sports & Entertainment Arena Set to Open in Early 2016
LAS VEGAS, Nov. 5, 2013 /PRNewswire/ -- Joint venture partners AEG and MGM Resorts International (NYSE: MGM), developers of a new world-class indoor arena in Las Vegas, have released the first images and details of the 20,000-seat sports and entertainment venue which will be located near the heart of the famed Las Vegas Strip and adjacent to the I-15 corridor.
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The images were unveiled as part of a project update by the ownership group for the new arena, which is expected to break ground in April 2014. The arena is being designed with an array of unrivaled premium offerings and club experiences as well as features that will make it immediately available to host NBA and NHL teams, concerts, boxing, mixed martial arts, family shows, award shows and other major events.
The arena, which will be the centerpiece of the revitalization of the area between New York-New York and Monte Carlo resorts, extending from Las Vegas Blvd. to Frank Sinatra Drive, is scheduled to open in the spring of 2016. The project's anticipated cost of approximately $350 million will be financed entirely with equity contributions from the partners and privately funded third-party debt financing. In keeping with the partners' commitment to building responsibly, the arena is being designed to meet the U.S. Green Building Council's standards for LEED Gold Certification.
Since its selection as the project's architect of record, Populous has worked closely with the project owners and their project manager, ICON Venue Group, to design an arena that will connect the contrasting influences of Las Vegas – the desert and Spring Mountains to the west and the pulsating, high-energy Las Vegas Boulevard to the east. To capture the excitement of The Strip, the design includes an expansive glass façade with an LED overlay; sweeping, dramatic balconies; an exterior performance stage and a sleek exterior that is as bold as it is sophisticated, creating a visually captivating and iconic focal point in Las Vegas' bustling entertainment market.
"As with arenas such as STAPLES Center in Los Angeles, London's The O2, Mercedes-Benz Arena in Shanghai and several others in the AEG Facilities portfolio, this new arena in Las Vegas is destined to be one of the most recognizable, respected and iconic venues in our industry," said Dan Beckerman, President and CEO, AEG. "From the diverse collection of unique and custom-designed premium seating and hospitality options to the variety of programming that will be booked, there will be offerings to appeal to the widest audience; from casino operators and their guests to international travelers and local residents, this will be world-class in every sense."
Brad Clark, Senior Principal at Populous and a lead designer of the arena, said "The design of the arena ensures we will create a truly striking entertainment venue for Las Vegas – representing the color, drama and excitement the city exudes. The arena will be an extension of The Strip's high energy – our job with the design was to stay authentic to that spirit."
The renderings highlight day and night exterior views of the arena which reaches 145' at the highest point of the roof. A monumental glass entry façade with a giant LED overlay runs along the northeast side of the arena reaching a height of 118' at the parapet of the entry façade.
Highlights, features and concepts of each rendering include:
PLAZA NIGHT rendering (LVA1):
- Exterior view looking west.
An expansive glass façade with an overlay of video marks the front door and monumental interior atrium, creating a striking arrival statement. With a spectacular balcony featuring an LED soffit and exterior performance stage below, the arena becomes an extension of the visual cacophony and high energy of the Las Vegas Strip.
VIEW FROM WEST rendering (LVA2):
- Exterior view looking east across I-15.
The exterior form responds to the climate by presenting a solid skin against the intense desert sun on the south and west sides of the arena. This skin wraps tightly to the efficient elliptical plan within and is expressed in undulating bands of metal which evoke the color and sedimentary layering of the surrounding desert mountains. The skin extends to ground level to conceal and cover the ground level VIP drop offs.
SUITE LEVEL BALCONY rendering (LVA3):
- View looking east toward Las Vegas Boulevard from exterior suite level balcony.
Outdoor balconies extend from the arena along Rue de Monte Carlo to become dramatic vantage points facing the energy of the world-renowned Strip – the quintessential Las Vegas "see and be seen" opportunity. A light-weight perforated aluminum screen serves as a protective shell, offering functional shade and wind protection while serving as an architectural transition from the plaza which serves as the entry path to the arena. Openings in the screen frame allow views west to the Spring Mountains.
The state-of-the-art arena will feature a variety of premium seating offerings and hospitality areas for entertaining and private events. Multiple bunker clubs, bunker suites, in-bowl sponsor zones, VIP drop-off zones with private lobbies as well as an 85' high atrium and an array of exterior balconies will bring the ultimate Las Vegas experience inside the venue.
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, has started the process of selling naming rights, a limited number of category exclusive sponsorships and premium seating for the new Las Vegas showplace, expected to host more than 100 events annually.
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), Sprint Center, (Kansas City), Target Center (Minneapolis, MN), Mercedes-Benz Arena (Shanghai, China), MasterCard Center (Beijing, China), O2 World Hamburg, Allphones Arena (Sydney, Australia), Ericsson Globe arena (Stockholm, Sweden), O2 World arena (Berlin, Germany) and The O2 arena and entertainment district (London, England) which are all part of the portfolio of AEG Facilities. Developed by AEG, L.A. LIVE is a 4 million square foot / $2.5 billion downtown Los Angeles sports, residential & entertainment district featuring Nokia Theatre L.A. LIVE and Club Nokia, a 54-story, 1001-room convention "headquarters" destination along with entertainment, restaurant and office space that "officially" opened in 2010. In addition to overseeing privately held management shares of the Los Angeles Lakers (NBA), assets of AEG Sports include franchises and properties such as the LA Kings (NHL), MLS Cup Champion Los Angeles Galaxy, two hockey franchises in Europe and the Amgen Tour of California cycling race. AEG Live, the company's live-entertainment division, is the world's second largest concert promotion and touring company and is comprised of touring, festival, exhibition, broadcast, merchandise and special event divisions with fifteen regional offices. AEG Global Partnerships, a division responsible for worldwide sales and servicing of sponsorships naming rights and other strategic partnerships and AEG Merchandising, a multi-faceted merchandising company are also core business units of AEG. In 2010, AEG launched its AEG 1EARTH environmental program with the announcement of 2020 environmental goals and the release of the industry's first sustainability report while in 2011, AEG introduced axs Ticketing, the first phase of its new entertainment platform serving as the company's primary consumer brand which will also feature a mobile service as well as a video content service now in development. For additional information, visit www.aegworldwide.com.
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.
Since inception in 1983, Populous has grown into the world's leading design firm dedicated exclusively to creating environments that draw people and communities together for unforgettable experiences, from stadiums to ballparks to arenas. The firm has completed more than 2,000 projects around the globe with construction value exceeding $30 billion. Populous has worked with 130 universities, 40 convention center clients, 80 professional and civic arena clients, 24 Major League Baseball franchises, 30 NFL franchises, 40 global soccer and rugby teams, 30 equestrian clients and has planned more than 30 major worldwide events. At Populous, we enthusiastically embrace the expertise we claim – drawing people together around events, places, teams and ideas they embrace and adore. www.populous.com.
About ICON Venue Group
ICON Venue Group is the leading Owner's Representative and project management firm in the sports, entertainment, and public assembly industry with a portfolio of many of the most successful venues in the world. ICON provides a comprehensive spectrum of facility development services required to guide a new facility project from its initial conception through planning, design, construction and opening to ensure years of successful operation for both public and private sector clients in the USA, Canada, Europe and Asia. ICON has managed the development of home venues for NFL, NBA, NHL, MLB MLS, MLL, AFL, CHL, NBDL, DEL and BBL franchises totaling over $4 billion.
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 MGM Resorts International and AEG to develop a new arena in Las Vegas and/or obtain financing for 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.
SOURCE MGM Resorts International
For further information: For further information: AEG, Michael Roth, Vice President, Communications, +1-213-742-7155, firstname.lastname@example.org; Populous, Annie Hellweg, Public Relations Coordinator, +1 816 329 4313, Annie.Hellweg@populous.com; ICON Venue Group, Melissa Heiter, Director, Marketing and Communications, +1 303 796-2655