New NBA-ready arena in Vegas future?

February 24, 2017 08:47 AM
Arena land
This is the land on which a $5 billion project would sit, including a 22,000-seat arena.

By Norm Clarke

VSiN.com columnist

T-Mobile Arena may soon have company on the Strip.

Mass excavation for a $5 billion project that includes a 22,000-seat arena at the north end of the Strip could start as early as April, a member of the prospective ownership group said Thursday after a meeting of the principals and investors at Park Tower.

Backers of the project, which would be completed in late 2019, believe they have an advantage in landing an NBA franchise because it would be a non-gaming property.

Jim Murren, MGM Resorts International CEO, told the Review-Journal in October that he is actively pursuing an NBA team for T-Mobile Arena.

The arena, a joint venture between MGM Resorts and entertainment giant AEG, opened in April between New York-New York and Monte Carlo.

The rival arena is planned for the 27 acres between Carl Icahn’s unfinished Fountainebleau and SLS. Former Sahara owners Paul and Sue Lowden have owned the site for decades. The land has been vacant since Wet n’ Wild water park closed in 2004 after nearly 20 years.

Former UNLV basketball star Jackie Robinson has been the point man for the new arena for nearly a decade.

The source said Robinson recently acquired the main financial backing from Boston Asia Capital, which stepped in when the original Chinese backing was “too slow, too hard.”

In 2010 Texas developer Chris Milam was working with the Lowdens on a $750 million, 20,000-seat arena. When that unraveled, he attempted to put together a sports stadium deal in Henderson, but legal issues derailed that plan.

The source said the principals at Thursday night’s presentation included the Las Vegas-based Cuningham Group. “They will be the architects,” said the source.

The project would include a Marriott property and an ambitious underground piece. 

The scene and heard

Celine Dion has reportedly completed three tracks on her English album titled “Recovering.” Last summer she disclosed that singer Pink wrote a song for her. Her love for haute couture continues to expand. She’s going to be Donatella Versace’s guest at the Met Gala in New York May 1.

On this day… 

February, 24, 1989: The Nevada Gaming Control Board fines Imperial Palace owner Ralph Engelstadt $1.5 million for keeping a secret room full of Nazi knick-knacks and holding birthday parties for Adolf Hitler. Engelstad, who could have lost his casino license, apologizes and vows no more Hitler parties.

February 25, 2004: The Killers, a rock band that started in Las Vegas, come home for a show at the Ice House early in a lengthy world tour to support their smash debut album “Hot Fuss.” The band’s first live performance was an open mic night at Café Expresso Roma across from UNLV, where they practiced on occasion and wrote music.

Sightings

Former Las Vegas Academy grad-turned “Dancing with the Stars pro” Julianne Hough, at Kumi Restaurant and Bar at Mandalay Bay on Wednesday…

Reality show star NeNe Leakes, dining with eight of her friends at Beauty & Essex (Cosmopolitan) on Wednesday… 

New England Patriots quarterback Tom Brady’s backup, Jimmy Garoppolo, chilling out at Intrigue (Wynn) on Saturday, amid swirling trade rumors.  

The punch line

“A restaurant here in New York has started selling a so-called ‘New Yorker milkshake’ which comes topped with whipped cream a slice of cheesecake. Which means the next topping you’ll get is a coffin lid.” – Seth Meyers

back to news

QuickPicks_300x250_080920_NFLkickoff

Headlines

View All
  • Magny should shine in Fight Island 8

    Magny should shine in Fight Island 8

    Wednesday’s UFC event begins at 6 a.m. Pacific Time, so the theme might as well be Beatdowns and Bagels. Max Holloway dominated Calvin Kattar...
  • Watch bombers in Palm Springs event

    Watch bombers in Palm Springs event

    Kevin Na shot 61-65 on the weekend to win the Sony Open in Hawaii at as high as 80-1 odds. Na (40-1) will attempt to win in back-to-back weeks this week...
  • Schedule critical in CBB futures bets

    Schedule critical in CBB futures bets

    Last week we discussed the importance of taking a positive approach to college basketball futures betting. That is, focus on playing plus numbers instead...
  • First impressions as hockey returns

    First impressions as hockey returns

    It’s great to have hockey back, but bettors must temper their expectations and trust their preseason projections. Therefore, this is a great time...
  • Tuley's Takes on Championship Sunday

    Tuley's Takes on Championship Sunday

    The NFL’s divisional playoff round was a mixed bag for us here at the Tuley’s Takes home office, though I spent Saturday at Circa with VSiN...
  • Injuries dog Chiefs, but Packers on roll

    Injuries dog Chiefs, but Packers on roll

    And then there were four. We’re looking forward to what is maybe the single best day on the NFL calendar: Championship Sunday. The matchups are...
  • Championship Sunday: Sifting recent trends

    Championship Sunday: Sifting recent trends

    For as different as this NFL season has been due to the impact of COVID-19, the first two weeks of the playoffs have generally followed the trends of...
  • How to gain edge betting CBB rematches

    How to gain edge betting CBB rematches

    (To view the charts with this report, subscribe to Point Spread Weekly) In a typical college basketball season, and to a lesser degree this season,...
  • Mahomes mystery puts oddsmakers in bind

    Mahomes mystery puts oddsmakers in bind

    It’s generally easy for oddsmakers to post lines on most NFL games. The numbers are typically airtight, unlike in college football. A quarterback...
  • Championship Sunday capsules

    Championship Sunday capsules

    NFC CHAMPIONSHIP GAME Buccaneers at Packers (3:05 p.m. ET Sunday) The Packers opened as consensus four-point home favorites against the...
  • With Pacers surging, Clippers on long haul

    With Pacers surging, Clippers on long haul

    Another week gone, and bettors have yet to see any NBA team separate itself from the pack. The Los Angeles Lakers seem like the surest thing on the board,...
  • 10 months in making, going all in on Bucs

    10 months in making, going all in on Bucs

    I made some bets on the Buccaneers last March that are now very much alive. These were placed the night before Tom Brady announced where he was signing....

Google Play
App Store
Close