In two years time, a 20,000-seat indoor arena is expected to open just off the Las Vegas Strip, between New York-New York and Monte Carlo.
The $375-million privately-funded project is expected to house 100 to 150 events per year — about two shows every weekend. The 650,000-square foot arena is designed to host many large-scale events, including NBA and NFL games, concerts, boxing matches, mixed martial arts and award shows.
MGM Resorts and AEG hosted a groundbreaking May 1 in the lot where the arena is planned. Boxer Floyd Mayweather, retired NBA legend Bill Walton, NHL player Luc Robitaille, Golden Boy CEO Richard Schaefer and UFC President Dana White were among those in attendance.
Company officials said the arena would serve as an anchor to The Park, an eight-acre pedestrian-oriented district between New York-New York and Monte Carlo.
An additional tw0-acre outdoor plaza at the arena would allow for pre-show receptions and special events.
Turning over a shovel of dirt as confetti filled the air were the sports icons and Clark County Commissioner Steve Sisolak, MGM Resorts CEO Jim Murren and AEG CEO Dan Beckerman.