Will Harrah’s and AEG’s Arena in Las Vegas Become a Successful Model?
October 4th, 2007Author: Mark Newman
Harrah’s Entertainment and AEG, partners to be, are going to be in charge of building a 20,000-seat arena in Las Vegas. The approximate prize of the project to be opened in 2010 is $500 million. The building site is located in Clark County, a block east of the Strip. The arena when built will be able to house even NBA and NHL teams.
Harrah’s nine hotel-casino properties in Las Vegas that are near the same intersection will have to be either linked or redeveloped. The company’s ambition is “to create a place that transcends a series of hotels” and to provide people on the Strip with the reason to go there. The arena has been called by Garry Loveman, the chief executive of Harrah’s, “a state-of-the-art events center”. It will be able to host concerts, boxing matches and lots of other events thus becoming a competitor for Thomas & Mark Center on the UNLV campus or Strip properties owned by MGM Mirage Inc.
