ZZZ - GMG - VEGAS INC 2011-2014

In business development MGM Resorts clears first hurdle on path to building arena By Conor Shine staff writer With an eye on opening the venue in 2016, MGM Resorts International received approval from the county earlier this month for the first round of permits and reviews needed to begin construction on an arena. The Clark County Commission unanimously approved use permits for the planned 20,000-seat arena and the restaurants, retail space and park that will accompany the development on Jan. 8. Planning documents filed with the county show the project, with an estimated price tag of $350 million, will include a 640,000-square-foot sports and entertainment arena, plus another 80,000 square feet for the outdoor shopping center. A 10-acre park area will serve as an entryway into the arena complex, which will be located behind the New York-New York and Monte Carlo casinos. Commissioners enthusiastically endorsed the proposal, calling the 3,000 permanent jobs it's expected to create "good news" for a region still struggling with high unemployment. Their few reservations centered on possible congestion created by vehicular and pedestrian traffic to the new arena and whether there are enough parking spaces surrounding the site. Attorney Greg Borgel, MGM Resorts' representative, told commissioners that the company plans to have staff and vendors park at the Excalibur — a short walk across Tropicana Avenue from the arena — to help alleviate some parking issues. With parking at New YorkNew York, the Monte Carlo and several other MGM Resorts-owned hotels south of Tropicana Avenue, Borgel said the company has more than enough parking spaces to support the increased traffic. A development agreement between the county and MGM Resorts still needs to be finalized before construction can begin. Concerns about traffic or parking, along with any other considerations relating to the project, will be addressed through that process. "We have a real project with real employment benefits for the community," Borgel said. "We have the intention of getting the project open in mid-2016." the strip Iconic New York-New York marquee headed for Neon Boneyard By Ed Komenda staff writer Electric sign workers dismantled New York-New York's iconic neon marquee earlier this month to make way for a new facade. The crew from Young Electric Sign Company (YES- CO) plans to retire the 30-foot, gold-border neon reader board and canopy — unveiled in 1997 — to the Neon Museum. YESCO's main tool was a towering crane to take the marquee down in three parts, which will end up at the Neon Boneyard. The new facade is part of a $100 million project to freshen up the walkway between the Monte Carlo and New York-New York, adding new retailers, such as a Hershey's Chocolate World. THIS WEEK! FRIDAY, JANUARY 24, 2014 7:00 a.m. – 1:30 p.m. Thomas & Mack Center - Cox Pavilion TICKETS AVAILABLE NOW! PreviewLasVegas.com or call 702.641.5822. $60 – Members | $80 – Non-Members | $80 – Walk-ins "ULTIMATELY, ALL SOLUTIONS ARE LOCAL." JIM CLIFTON Chairman & CEO, Gallup Author, The Coming Jobs War ALSO FEATURING... ROSSI RALENKOTTER President/CEO, Las Vegas Convention and Visitors Authority PLATINUM SPONSORS ROBERT LANG UNLV Director, Brookings Mountain West JEREMY AGUERO Principal Analyst, Applied Analysis GOLD SPONSORS Bank of Nevada | Cash America SuperPawn | The Howard Hughes Corporation The JABarrett Company | Nevada Broadcasters Association | Nevada Drug Card Nevada Public Radio | Nevada's Sesquicentennial | SkyHigh Marketing Southwest Gas | Sunrise Health System | Vegas PBS | 20 JANUARY 2014 20140120_VI09_F.indd 9 | 9 1/16/14 1:45:08 PM

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