Oak View Group (OVG) is an international venue development, advisory, and investment company for the sports and live entertainment industry. In a new piece of juicy Las Vegas news, The company recently announced it has the vision to build a Las Vegas entertainment district that includes an arena, casino, and hotel.
OVG is calling this a “vision” that will be located four miles south of Mandalay Bay. The company says this massive complex would cost $3 billion and could break ground in 2023 with hopes of the arena becoming home to an NBA team.
What and where in Las Vegas
This proposed project will be built on 25 acres of land south of Mandalay Bay on Las Vegas Boulevard. The land for this project is located across the street from Silverton Casino Hotel and between the I-15 and I-215.
For reference, the entertainment district would be closer to South Point than Mandalay Bay.
The company says the entertainment district will be an 8 to 15-minute drive to and from all major Vegas Strip resorts. Moreover, OVG estimates that more than 13 million vehicles coming from California pass this area every year.
The plans for this project include:
850,000 square foot arena
Additional entertainment venue amphitheater
That’s a lot to build on just 25 acres.
T-Mobile Arena alone sits on 16 acres of land. New York-New York casino occupies another 20 acres of land. Altogether, the casino, hotel, and arena on the Vegas Strip occupy 36 acres of land.
“South of the Las Vegas strip represents one of the few areas of potential future growth of the gaming and entertainment corridor,” said Tim Leiweke, CEO of Oak View Group.
“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 good paying job creation to Clark County as well as creating the most innovative and environmentally sustainable live entertainment point of destination in the world.”
OVG says it would like the arena to become home to an NBA expansion team. The company has not mentioned gaming and hotel partners yet. Those will likely be announced if construction begins on this multi-purpose entertainment district.
Experience and government support for the entertainment district
This entertainment district has support from industry veterans and local government. This isn’t a fly-by-night operation that is just throwing out a big idea that could never happen.
OVG is responsible for Climate Pledge Arena in Seattle, where the NHL’s Kraken plays home games. The company is also responsible for UBS Arena in New York, where the Islanders play home games. There is another handful of other projects located or coming soon around the world.
An entertainment industry veteran, Irving Azoff, is the co-founder of OVG. Azoff is most known for working decades in the music industry. When discussing this project, Azoff said,
“It doesn’t get much bigger or better than Las Vegas.”
Who can argue with that?
Marc Badain, former president of the Las Vegas Raiders, is a partner in this venture. Badain will “spearhead and consult on the new project.”
“In the time I have spent in Las Vegas, I have been overwhelmed by both the entrepreneurial spirit and the willingness of its residents and leaders to embrace the innovation and vision that guides its future. This project represents the next step in that exciting evolution.”
Nevada Governor Steve Sisolak is behind this project. He said,
“We are proud Oak View Group has chosen Nevada for its next and largest project. This newly proposed entertainment district in Las Vegas will help continue the state’s economic momentum and create thousands of jobs and greater prosperity for Nevadans. I look forward to seeing the many opportunities this creates in Las Vegas.”