Shovels in the ground, confetti in the air as MGM/AEG arena construction begins

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In the end, the Great Las Vegas Arena Race was won neither by the city of Las Vegas nor some deep-pocket Strip billionaire nor some fast-talking Texan.

The first shovel in the ground for Las Vegas’ first major new arena in 30 years came Thursday during a milestone ground-breaking ceremony courtesy of the company with the most Strip properties — MGM Resorts International, and one of the world’s powerhouse arena and entertainment companies, AEG.

On a pleasant, sunny spring morning, MGM Resorts and AEG officially launched the $375 million construction project with shovels hitting earth in a parking lot behind the Monte Carlo at 11:50 a.m. and confetti flying a few seconds later.

The 20,000-seat MGM/AEG arena plans to open in spring 2016 without a National Basketball Association or National Hockey League tenant. That’s fine with MGM and AEG officials, who have crafted a business plan to tap a steady stream of mixed martial arts and boxing, concerts, award shows, college basketball and hockey tournaments and other sports. They anticipate about 100-150 events per year. The Las Vegas-based Ultimate Fighting Championship, the MMA fight event, promotion and media company, plans five or six annual fight shows at the new arena.

MGM Resorts Chief Executive Jim Murren and AEG Chief Executive Dan Beckerman welcomed the ground-breaking crowd, sitting in white wooden chairs near the Monte Carlo parking garage, next-door to MGM office buildings to be demolished to make way for the arena. Sports broadcaster Jim Gray served as host, and the list of speakers included UFC President Dana White, former NBA star Bill Walton and a “special guest” — Las Vegas boxing superstar Floyd Mayweather, who has said he would like to own NBA’s Los Angeles Clippers.

“It’s a big day for Las Vegas. It’s a big day for Nevada. It’s a big day for entertainment,” Murren said. “We need to create the experience tourists are so yearning for. They want to be wowed.”

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