New T-Mobile Arena in Las Vegas Signals Return of Large Hospitality Investment
Photo Credit: Wayne Newton and The Killers performed for the opening night crowd at T-Mobile Arena in Las Vegas. Skift
Skift Take
Significant capital investments in Las Vegas hospitality have been few since the recession. The opening of T-Mobile Arena and adjacent developments, as well as record visitation to the city during the last two years, suggest the Strip is turning a corner.
The new $375 million T-Mobile Arena in Las Vegas opened its doors for the first time last night, capping off the city's return from the financial brink during the depths of the great recession.
A partnership between AEG Worldwide and MGM Resorts International, the 20,000-seat venue was built solely with private funds.
Directly in front of the arena, The Park outdoor plaza opened on Monday, representing another $100 million investment by MGM. And connected to MGM's Monte Carlo Resort next door, the new $90 million, 5,300-seat Monte Carlo Theater is scheduled to open by the end of the year.
The three facilities will help maintain the city's positioning as "The Entertainment Capital of the World," says Steve Sisolak, chairma
