Oak View Group (OVG), a global sports and live entertainment venue construction, management, and investment firm, has revealed its plans to open a new entertainment district in Las Vegas that will include a casino and an arena.
The estimated $3 billion destination entertainment area and arena will break ground and begin building in 2023.
The 25-acre site, which is situated near the convergence of two major highways, I-15 and I-215, will include an 850,000-square-foot arena, a casino, a hotel, and a second entertainment facility amphitheater. The arena will hold live events such as concerts, athletic events, family entertainment, conventions, huge meetings, international events, award shows, exhibitions, and more, with up to 20,000 seats and sophisticated facilities such as suites and premium hospitality clubs. The development of Las Vegas’ new world-class arena is planned to provide thousands of permanent and temporary jobs for the local community, with a focus on prioritizing technology, sustainability, and green initiatives.
“South of the Las Vegas strip represents one of the few areas of potential future growth of the gaming and entertainment corridor,” said Tim Leiweke, CEO of Oak View Group. “This unprecedented project is an industry game-changer, and we will usher in the evolution of Las Vegas as the new entertainment AND sports capital of the world. As the largest arena developer in the world, we look forward to driving good paying job creation to Clark County as well as creating the most innovative and environmentally sustainable live entertainment point of destination in the world.”
“It doesn’t get much bigger or better than Las Vegas,” said Irving Azoff, co-founder of OVG. “From the world-class Climate Pledge Arena in Seattle to UBS Arena in New York, and Moody Center in Austin, Las Vegas will be the next jewel in the OVG crown.”
Marc Badain, a veteran sports industry leader and former president of the NFL’s Las Vegas Raiders, has joined with OVG to spearhead and consult on the new project, which will be overseen by Francesca Bodie, president of business development.
Badain commented, “In the time I have spent in Las Vegas, I have been overwhelmed by both the entrepreneurial spirit and the willingness of its residents and leaders to embrace the innovation and vision that guides its future. This project represents the next step in that exciting evolution. It is an honor to be a part of it and to help deliver on the vision provided by Oak View Group.”
The state-of-the-art privately financed sports and entertainment stadium, designed by worldwide industry-leading architecture firms Gensler and Populous, will set a new global standard for events in Las Vegas and will be OVG’s largest project to date. In addition to Gensler and Populous, Steve Collins, OVG’s president of global venue development and special projects, will lead the project development.
Nevada Governor Steve Sisolak commented, “We are proud Oak View Group has chosen Nevada for its next and largest project. This newly proposed entertainment district in Las Vegas will help continue the state’s economic momentum and create thousands of jobs and greater prosperity for Nevadans. I look forward to seeing the many opportunities this creates in Las Vegas.”
More than 13 million vehicles drive through the site each year, according to estimates, as it is located near to the projected Brightline high-speed rail station. The site will provide direct and easy access to I-15 and Las Vegas Boulevard, as well as streets like Blue Diamond, Warm Springs, and Dean Martin, resulting in 8 to 15-minute drive times to and from all major Las Vegas Strip resorts and the airport, as well as reducing freeway traffic in both directions.
“This announcement marks the next step in solidifying our reputation as #TheGreatestArenaOnEarth,” said Michael Naft, Clark County commissioner. “The team assembled has the track record and ability to bring another world-class venue to our world-class destination. They also have the expertise and history of building a carbon zero and zero waste facility. I welcome this next evolution for south Las Vegas Blvd, the jobs this project will create, and the history that will be made by today’s news.”