Two tycoons are proposing a $3 billion entertainment hub in Las Vegas

Bloomberg— Oak View Group built state-of-the-art stadiums in Seattle, New York and Austin. Now he is attacking Sin City (name given to the city of Las Vegas).

The company plans to build a stadium just south of the Las Vegas Strip, to serve as the centerpiece of a new entertainment center that includes a casino and hotel. View Oak acquired 25 acres (10.5 hectares) on a 66.5-acre (26.9-hectare) site just minutes from Harry Reid International Airport, which will begin development next year.

The area is designed as a $3 billion entertainment campus, which will be aimed at people with enough money to afford luxury experiences. Customers they will be able to purchase a package for a hotel and live event and their hotel suite key will give them access to a private club in the arena. Is The hotel probably has a capacity of around 2,000 peoplewhile the 20,000 seat stadium it will be big enough to house a professional sports team and host concerts by major pop stars.

“We’re going to go after every big event there,” Oak View CEO Tim Leiweke said in an interview. “It’s exclusive, it’s premium, and it’s going to be built to be the perfect experience. for those willing to spend money to have the best live entertainment experience.

The company you will need a partner to operate the hotel and casinoand held interviews with possible participants, according to a person familiar with the matter. It will also seek partnerships with concert organizers and has had preliminary discussions with Live Nation Entertainment Inc.. (LYV), said the person, who asked not to be identified because agreements are not final. Leiweke declined to discuss specific business partners. Live Nation declined to comment.

Leiweke is positioning the venue to serve as a venue for professional sports teams and events not yet coming to Las Vegas. The recent arrival of professional hockey and football teams and the construction of new venues have made Las Vegas a top destination for sports and entertainment.. Famous musicians used to go to Las Vegas in the later stages of their careers, but some of them the world’s biggest pop artists have regularly booked residencies in Las Vegas. The costs Grammy will be held in the city on April 3, During this time he The Super Bowl will be held there in 2024..

The National Basketball Association (NBA) has said it will consider adding a team to Las Vegas if the league grows, and the owner of the Boston Red Sox and Liverpool FC, Fenway Sports Group, is interested in a team, according to a report. “There is no guarantee that the NBA will come to Las Vegas; we are very aware of that,” Leiweke said. “Corn if the nba comes to las vegas this building will be an option. It will be built to the highest specifications in the NBA.”

Fenway Sports did not respond to requests for comment.

Oak View also shares an investor, Silver Lake, with Endeavor Group Holdings Inc. (EDR), owner of the Ultimate Fighting Championshipwhich hosts many events in Las Vegas.

Sand will cater to leading musicians and other artists, building on relationships with music mogul Irving Azoff, co-founder of Oak View. Leiweke and Azoff started the company in 2015 to build new venues to meet growing demand for live entertainment. Oak View operates an 18,100-seat arena in Seattlewhich is also home to the city’s hockey team, as well as a new arena on Long Island in New York serving the Islanders hockey team. is about to open Moody Center in AustinTexas, and has plans for at least a dozen more locations.

Leiweke he had dreamed of building a stadium in Las Vegas since he was CEO of Anschutz Entertainment Group. He designed the plans for T-Mobile Arena, which is now the home of the Vegas Golden Knights hockey team. Las Vegas has no shortage of entertainment venues, but Leiweke argued that his will be one of a kind. This new stadium will cost up to 1,000 million dollarsmore than double the cost of T-Mobile.

“It’s the biggest bet our company has made to date,” Leiweke said.

Historically, the region south of the Strip (hotel strip in Las Vegas) this has not been a big draw for spending tourists. Corn people traveling to Las Vegas from Southern California will pass the new location before reaching the busiest areas. It is also located minutes from the hangars that accommodate most private jets who come to town. Marc Bainthe former president of the Las Vegas Raiders, will work on the project with Oak View.

This article was translated by Miriam Salazar

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