LAS VEGAS (May 27, 2015) – Representatives from owner/developers AEG and MGM Resorts International (NYSE: MGM) hosted a traditional “Topping Out” ceremony to commemorate the installation of the last steel beam used in the construction of the new Las Vegas Arena set to open in Spring 2016.
Mark Prows, Senior Vice President, Arenas, MGM Resorts International and Mark Faber, Senior Vice President, AEG Global Partnerships, congratulated more than 300 union construction and iron workers on the achievement of the latest significant milestone at an event which featured a giant crane lifting into place the last of approximately 7,000 individual steel beams with a combined total weight of 7,100 tons. Joining Prows and Faber were Clark County Commission Chairman Steve Sisolak, Clark County Commissioner Mary Beth Scow, Monte Thurmond, Project Executive, Hunt-Penta Joint Venture and Tim Romani, Founder and CEO of project managers ICON Venue Group.
"Today was an exciting and significant event for all of our Las Vegas Arena partners,” said Mark Prows, Senior Vice President, Arenas for MGM Resorts International. “The entire project team has worked extremely hard, and safely, to reach this momentous occasion. We look forward to celebrating additional milestones with our partners and the community as we approach the Arena opening next Spring.”
The privately funded, 20,000-seat, $375 million indoor arena is located west of the Las Vegas Strip between New York-New York Hotel & Casino and Monte Carlo Resort and Casino. Las Vegas’ newest landmark is expected to host more than 100 events annually including boxing, UFC and other sporting events, major headline entertainment, awards shows and special events. The venue also will feature 50 luxury suites, more than two dozen private loge boxes and other specially designed exclusive hospitality offerings never before featured in a facility of its kind.
Mark Faber, senior vice president, AEG Global Partnerships, said, “Witnessing the topping out of Las Vegas’ new showplace for sports and entertainment really puts into perspective just how much hard work went into the building this arena. We applaud everyone involved in this project for their tremendous efforts and commitment to ensuring the safe and successful completion of this important milestone.”
AEG Global Partnerships, an affiliate of AEG that collaborates with more than 120 venues and other AEG assets worldwide to create sales and marketing platforms, is overseeing the sale of naming rights, sponsorships, premium seating and luxury suite sales for the new Las Vegas showplace.
Also on-hand were representatives of the General Contractor Hunt-PENTA Joint Venture, structural engineering firm Thornton-Tomasetti and Structural Steel Contractors SME Steel, as well as executives from Founding Partners Coca-Cola, Schneider Electric and Toshiba America Business Solutions, Inc.
• Structural Engineer: Thornton-Tomasetti (Kansas City)
• Structural Steel Contractor: SME Steel
• Steel Source: Fabrication in Salt Lake City
• Total pieces of steel: Approx. 7,000 pieces
• Weight of steel: Approx. 7,100 tons
• Shortest piece of steel: Two feet
• Longest piece of steel: Main Trusses are 350 feet
• Average weight of steel beams: Approx. 1,000 pounds
• Metal decking: 665,000 square feet of floor and roof deck
• Roof structure is designed with a rigging grid that has a 200,000 lb. capacity for hanging equipment for concerts and events
• Long-span roof clear spans the seating bowl of 350 ft. x 450 ft.; all column-free space for unobstructed views of the event floor
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company also owns 51% of MGM China Holdings Limited, which owns the MGM Macau resort and casino and is in the process of developing a gaming resort in Cotai, and 50% of CityCenter in Las Vegas, which features ARIA Resort & Casino. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.
AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of the Anschutz Company, owns or is affiliated with a collection of companies including over 100 of the world’s preeminent facilities such as STAPLES Center (Los Angeles, CA), StubHub Center (Carson, CA), Best Buy Theater (Times Square, New York), Mercedes-Benz Arena (Shanghai, China), Allphones Arena (Sydney, Australia) and The O2 arena and entertainment district (London, England). Developed by AEG, L.A. LIVE is a 4 million square foot/$3 billion downtown Los Angeles sports, & entertainment district featuring Nokia Theatre L.A. LIVE, Club Nokia, and a 54-story, 1001-room convention "headquarters" destination. In addition to overseeing privately held management shares of the Los Angeles Lakers, assets of AEG Sports include franchises such as the LA Kings, LA Galaxy and Houston Dynamo and the Amgen Tour of California cycling stage race. Along with AEG Facilities, other global divisions include AEG Live, the world’s second largest concert promotion and touring companies comprised of touring, festival, exhibition, broadcast, merchandise and special event divisions and AEG Global Partnerships, responsible for worldwide sales and servicing of sponsorships, naming rights and other strategic partnerships. In 2010, AEG launched its AEG 1EARTH environmental program featuring the industry's first sustainability report while in 2011, AEG introduced AXS a comprehensive entertainment platform serving as the company’s primary consumer brand including AXS Ticketing, Examiner.com and the AXS TV network. For additional information, visit www.aegworldwide.com.
Statements in this release that are not historical facts are forward-looking statements involving risks and/or uncertainties, including those described in MGM Resorts International's public filings with the Securities and Exchange Commission. MGM Resorts International has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the ability of Las Vegas Arena Company to develop a new arena in Las Vegas and/or obtain finance such project. These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions, the design, timing and costs of expansion projects, risks relating to permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in MGM Resorts International's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, MGM Resorts International is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law.