Construction of the previously announced 20,000-seat arena is expected to begin in April, AEG said. Upon completion in early 2016, the arena will be available to host professional basketball and hockey, though it doesn’t have affiliated teams at this point.
The arena is also expected to be used for concerts, boxing, mixed martial arts, family shows, award shows and other major events.
The arena – on par in size with Staples Center in downtown Los Angeles -- is to be the centerpiece of efforts to revitalize Las Vegas Boulevard between the New York-New York and Monte Carlo resorts.
Like many casinos and other entertainment venues in Las Vegas, the yet-to-be-named arena will have a strong focus on VIP features.
The arena will feature a variety of premium seating and hospitality areas for entertaining and private events. There will be multiple “bunker” clubs and suites at the lowest level, zones set aside in the arena for sponsors and VIP drop-off zones with private lobbies.
As designed by architecture firm Populous, there will also be an atrium 85 feet high and an array of outside balconies. The exterior will have an expansive glass facade with an overlay of LED lighting and an outdoor performance stage.
AEG Global Partnerships, an affiliate of Los Angeles-based AEG, has started the process of selling naming rights, sponsorships and premium seating for the arena that is expected to host more than 100 events annually, AEG said.
The arena will be paid for privately by AEG, MGM Resorts and third-party investors, AEG said.