By Liviu Oltean, Associate Editor
MGM Resorts International clearly likes the odds for the new entertainment district it’s developing on the Las Vegas Strip. The hospitality giant unveiled plans on July 15 for a third major project at the eight-acre site: a 5,000-seat theater at the Monte Carlo Resort and Casino. The new theater will join the Park and the Arena, two other MGM projects currently under construction.
As Commercial Property Executive has reported, MGM is also developing a $375 million, 20,000-seat arena and a pedestrian-friendly, resort-like promenade on the site.All three projects are expected to come online next year—the Park and the Arena are scheduled to debut next April, followed by the new theater by the end of 2016.
“From Las Vegas to Maryland, Macau to Massachusetts, presenting the biggest and most sought-after names in music, sports and special events is a core focus for MGM Records. This new theater will enable us to host performers in Las Vegas who we previously haven’t had a home for, broadening our entertainment offerings and providing the opportunity to expand those relationships to our properties around the globe,” said President Bill Hornbuckle of MGM Resorts International in a prepared statement.