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Oak View Group acquires 25 acres in Las Vegas to build “entertainment district”

Oak View Group has taken the first steps to building a $3bn entertainment district in Las Vegas, having acquired 25 acres of land in the south of the city. 

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The plot of land, which sits within a larger, 66-acre, development site, it set to be transformed into a vast complex comprising a number of entertainment venues – including a casino. Initial plans include outlines for an 850,000 square-foot arena, a hotel, a casino and an additional amphitheater-style entertainment centre.  

It is set to open by the end of 2023. Tim Leiweke, CEO, Oak View Group, commented: “South of the Las Vegas Strip represents one of the few areas of potential future growth of the gaming and entertainment corridor. 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 job creation in Clark County, as well as creating the most innovative and environmentally sustainable live entertainment point of destination in the world.” 

The site will be situated in vacant land, adjacent to the I-15 and I-215 freeways; a section of the city more than 13 million vehicles drive past each year. 

The arena alone, which will feature in addition of 20,000 seats, is expected to bring millions of sports, music and family entertainment fans to the south Las Vegas area. 

Oak View Group has engaged Marc Badain, former President of the Las Vegas Raiders, and Francesca Bodie, current President of Business Development at the property company, to oversee the project. 

This represents the latest project from Oak View Group, which recently unveiled a new $1.2bn arena in Seattle, and the UBS Arena in New York, at a cost of $1.1bn.  

The 23,500-seat Co-op Live, set to be the largest arena in the UK, is expected to open in Manchester in 2023.


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