Construction To Begin This Summer On New Arena From Las Vegas Sands, Madison Square Garden18,500-Seat Music Venue To Be Connected To Venetian, Palazzo |
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A new arena for the Las Vegas Strip area will start to take shape this summer, according to one of the groups behind the development.
The Las Vegas Sun reported that Las Vegas Sands Corp. provided an update on its joint project with the Madison Square Garden Company during a fourth-quarter earnings call. The casino giant said construction is on track for kicking off sometime around mid-year.
Sands and Madison Square Garden announced the project in May 2016. Other groups involved include Azoff MSG Entertainment, Live Nation Entertainment and the Oak View Group. The arena is touted as being designed “specifically for music and entertainment.” The groups see Las Vegas as “an under-served concert market.”
The 18,500-seat arena will be built behind the company’s Venetian and Palazzo casino-hotels on Sands Avenue, between Koval Lane and Manhattan Street.
The report said that Sands plans a public event either next month or in March to unveil more information on the project. The arena is expected to open in 2020.
“A world-class performance venue with direct connectivity to our Venetian and Palazzo resorts will undoubtedly be positive for our business in Las Vegas, but it is also exactly the type of investment that is important to the long-term interests of Las Vegas as a leading international tourist destination,” Sands CEO Sheldon Adelson said at the time the project was announced.
A price tag was not disclosed.
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