This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
Las Vegas • Casino giant MGM Resorts International and entertainment company AEG say they've inked a deal to build a 20,000-seat Las Vegas Strip arena.
Officials with Las Vegas-based MGM Resorts and Los Angeles-based AEG say the joint venture will provide a centerpiece for a renovation of the area from Las Vegas Boulevard to Frank Sinatra Drive between the New York-New York and Monte Carlo resorts.
Groundbreaking for the $350 million arena is expected next summer, with completion by spring 2016. The companies say an unnamed privately funded third-party will also provide financing.
MGM Resorts International Chairman and Chief Executive Officer Jim Murren calls finalizing the agreement a project milestone.
The international design firm Populous has been hired to design the arena with premium seating and hospitality areas for entertainment and sports events.