Oak View Groupthe global venue developer/investor co-founded by Irving Azoff and led by Tim Leiweke, is building a new $3 billion entertainment district in Las Vegas on 25 acres featuring an 850,000 square foot arena, amphitheater, casino and a hotel.
The 20,000+ seat arena will include suites, upscale hospitality clubs and host live events including concerts, sporting events, family entertainment, as well as conventions, awards shows and international gatherings. The construction – with a focus on prioritizing technology, sustainability and green initiatives – is expected to create thousands of permanent and temporary local jobs.
“It doesn’t get much bigger or better than Las Vegas,” Azoff said, calling the development “the next jewel in the OVG crown.”
The company’s projects include the Climate Pledge Arena in Seattle ($1.2 billion, 18,100 seats, the world’s first certified zero-carbon arena and home of the NHL’s new Seattle Kraken); UBS Arena in New York ($1.1 billion, home of New York Islanders hockey); and the soon-to-open Moody Center arena at the University of Texas at Austin.
Groundbreaking is scheduled for 2023 for the Vegas resort, located on 66.5 acres near the intersection of two major freeways, I-15 and I-215.
“The South Las Vegas Strip represents one of the few areas of potential future growth for the gaming and entertainment corridor,” said Leiweke, CEO of Oak View Group. He called the project an “industry game-changer” that “will usher in the evolution of Las Vegas as the new entertainment and sports capital of the world.”
Marc Badain, a veteran sports industry executive and former president of the NFL’s Las Vegas Raiders, has partnered with OVG to lead and consult on the new project with Business Development President Francesca Bodie, who will oversee the transactions and business operations. Development of what will be OVG’s largest project to date will be led by Steve Collins, its President of Global Site Development and Special Projects.
The complex is designed by architectural firms Gensler and Populous.
Nevada Governor Steve Sisolak said the new entertainment district “will help continue the state’s economic momentum and create thousands of jobs and greater prosperity for the people of Nevada.”
The development is adjacent to the planned Brightline high-speed rail station at this site which OVG, citing estimates, said more than 13 million vehicles from California pass through each year. The site will be a 15 minute drive to and from all major Las Vegas Strip resorts and the airport.
OVG’s other upcoming projects include Acrisure Arena in the Coachella Valley; Arena São Paulo in Brazil; the Baltimore Arena; the FirstOntario Center arena; the new arena at the Atlantic Wharf in Cardiff, Wales; and the Co-op Live arena located in Manchester, which when completed in 2023 will be the largest arena in the UK.