New casino and entertainment project planned in Las Vegas

Bloomberg-a US financial intelligence service-brought out a report last week, according to which a new casino and entertainment resort south of the Las Vegas Strips was planned. The investor is said to be the OAK View Group and the CEO of the company – Tim Leiweke.

Not just casino and hotel intended

The project should cost around three billion US dollars-the equivalent of 2.73 billion euros-and now also contain a large arena in which 20,000 guests fit. The OAK View Group is not inexperienced in regard to such projects. Among others in New York, Seattle and Austin in Texas are arenas where the company was a client. The new Plans in Las Vegas However, represent the company’s largest project. But it is not just the construction of a theater planned. This also includes many shopping, catering and entertainment companies as well as a hotel with 2,000 rooms. Since the project in Las Vegas is to be realized, there is of course also a Casino intended within the entertainment area.

The project is intended to set new standards regarding entertainment. Through comprehensive offers, financially stronger guests of the complex are to experience these new standards. Through this goal, the arena and the guests and artists that appeared played a major role in planning the project. The CEO Leiweke said: “We will take a look at every big event there. [The theater] is exclusive, it is high quality and it will be built in such a way that it is the perfect experience for those who are willing to spend the money to have the best experience in live entertainment “

In addition to music events, sports events in the arena?

For this reason, investors would already negotiate with concert organizers, including Live Nation Entertainment, according to Bloomberg. This organizer is considered an industry size, whose artists include some of the most famous music stars in the United States.

Not only music events are under discussion. The OAK View Group should also have talks with potential partners from the sports sector. The background to this is that the builders see potential in the arena to become a place for home games of a team of the big US leagues. After the Las Vegas Raiders, an NBA football team, there are signs that the NBA basketball league for Las Vegas is also interested in as a location. But that’s not all: the Fenway Sports Group would also speculate via a location in Las Vegas. Among other things, the group has Liverpool, an English football club, and the Boston Red Sox, an American baseball team. Even if, according to the Oak View Group CEO, the NBA will come to Las Vegas, the planned arena is still an excellent option.

Building land and already available – targeted opening at the end of 2023

The client had already bought building land for the project – a ten hectare area in the south of Las Vegas. According to Leiweke, this area has “considerable potential for future growth”. The project will help Las Vegas as a gaming city par excellence of becoming a significant sports and entertainment location in the United States.

If the enforcement of the plans is going well, the project could be finished at the end of next year and an opening of the localities could take place. The fact that discussions with possible partners could already take place means that investors are fairly certain that the construction project will go smoothly. The opening date should therefore be realistically calculated. As long as nothing unforeseen comes in between, the targeted opening at the end of next year should not be opposed to the end of next year after the start of construction.