Oak View Group has announced plans for the construction of a US$ 3bn entertainment complex on 25 acres south of the Las Vegas Strip. The 850,000-square-foot arena, casino, hotel, and additional entertainment complex will be built at the crossroads of Interstates 15 and 215 and will be part of the project.
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The arena will have up to 20,000 seats and facilities including suites and premium hospitality clubs. According to Bloomberg, Oak View Group is actively seeking a partner to run the hotel and casino element of the property and has initiated discussions with a number of possible parties. The arena part is yet to find a tenant.
The project, designed by architecture companies Gensler and Populous, is set to break ground in 2023. Marc Badain, the former president of the NFL’s Las Vegas Raiders, will also work on the project alongside Oak View Group.
Latest addition to Oak Views’ large-scale arena projects
The project is Oak View Group’s newest large-scale arena project, following the completion of a US$1.2 billion facility for Seattle’s NHL franchise, the Seattle Kraken, and a US$1.1 billion arena for the New York Islanders in Elmont. Arenas are also being built by businesses in Austin, Texas, Coachella Valley, California, and Baltimore.
“We are pleased that Oak View Group has picked Nevada as the location for its next and greatest project. This newly proposed entertainment zone in Las Vegas will aid the state’s economic momentum, creating thousands of jobs and increased wealth for Nevadans,” says Nevada Governor Steve Sisolak.
“South of the Las Vegas Strip is one of the few possible future development zones in the gaming and entertainment corridor. This project is a game-changer in the industry, and we will usher in the transformation of Las Vegas as the world’s new entertainment and sports center,” said Tim Leiweke, CEO of Oak View Group.
