Harrah's, AEG plan arena for Vegas Strip


Harrah's Entertainment Inc , the world's biggest casino operator, and AEG said on Wednesday they plan to build a 20,000-seat, privately financed sports and entertainment arena just off the Las Vegas Strip.

The arena is expected to open in 2010 and will be located on about 10 acres owned by Harrah's. The location is one block east of the Strip directly behind Harrah's Bally's and Paris resorts.

AEG, which operates properties such as Staples Center in Los Angeles and London's 02 Arena, will be managing partner on the arena project, which will break ground next year.

AEG will oversee development, operations and programming, which will include a range of live sports and entertainment events such as concerts, boxing matches, special events and awards presentations, as well as tournaments and exhibitions.

The arena will also be capable of housing a professional basketball or hockey franchise.

Las Vegas-based Harrah's in December agreed to be acquired by two private equity firms for about $17 billion. It owns properties in Las Vegas, Atlantic City and the U.S. Gulf Coast.