$3 billion Las Vegas stadium, high-end hotel-casino planned south of Las Vegas Strip
According to Bloomberg, Las Vegas plans to build a new stadium. Developer Oak View Group has purchased land for the project south of the Las Vegas Strip, just minutes from Harry Reid International Airport.
The 20,000-seat stadium is expected to be the centerpiece of a $3 billion high-end entertainment campus that also includes a casino and a 2,000-room hotel.
Los Angeles-based Oak View Group is a development and investment firm specializing in the entertainment industry. Seattle, New York and Austin have already built arenas. But it will be his biggest project yet.
Bloomberg notes that the $1 billion earmarked for the stadium alone dwarfs T-Mobile Arena, which cost $375 million.
Future NBA venue in Las Vegas?
Oak View CEO Tim Leiweke is also involved in the project. He is the former CEO and president of the Anschutz Group, which owns the Los Angeles Lakers, Los Angeles Kings and LA Galaxy. T-Mobile Arena is a joint venture between Anschutz and MGM Resorts. Today, it is home to the NHL's Vegas Golden Knights.
Leiweke hopes the venue could one day serve as a home base for a future NBA team, though he acknowledged there's no guarantee the league will choose to expand in Las Vegas.
The city has become a major sports and entertainment destination in recent years and seems a natural fit for the NBA. But earlier this month, a league spokesman denied it considered Las Vegas an expansion team, saying: "That's not true."
Meanwhile, Oak View co-founder Irving Azoff hopes to use his credentials as a music manager to attract the world's top artists. Former Las Vegas Raiders president Mark Badain is also involved in the project.
"We will be responsible for every major event," Leiweke told Bloomberg. "It's unique, it's high quality and it's designed to provide a great experience for those who are willing to spend the money." Live entertainment. "
"Luxury Experience"
The complex is aimed at people looking for a "luxury experience". Customers can purchase packages that include hotel accommodations and on-site activities. You also have access to a private club inside the arena.
While Leiweke declined to discuss specific business partners for the project, Bloomberg sources said Oak View Group needs to work with casino and hotel operators and has held discussions with several potential candidates.
Oak View is in preliminary discussions with concert promoter Live Nation Entertainment Inc., according to sources.
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Source: www.casino.org
