T-Mobile Arena Marks Tenth Anniversary Of Groundbreaking; Arena Just Off Strip Triggered Las Vegas Sports Boom
By Alan Snel, LVSportsBiz.com Publisher-Writer
Ten years ago in Las Vegas a shovel hit dirt just off the Strip and the sports venue world in Sin City has not been the same since.
On May 1, 2014, MGM Resorts International and Los Angeles-based Anschutz Entertainment Group (AEG) teamed up to have a groundbreaking ceremony next to the New York New York parking garage for what turned out to be T-Mobile Arena.
T-Mobile Arena was a privately-financed arena, built for $375 million and tucked off the Strip in between the MGM Resorts International properties of New York New York and Park MGM. It opened in April 2016.
The arena kicked off a sports venue-building spree in Las Vegas that helped land the NHL Vegas Golden Knights ay T-Mobile Arena in 2017 and the NFL Las Vegas Raiders at Allegiant Stadium in 2022. The Athletics plan to build a $1.5 billion fixed-dome stadium on the Strip for the 2028 season.
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Las Vegas Ballpark was built for $150 million in 2019 before VGK owner Bill Foley built the $84 million Lee’s Family Forum arena in Henderson in 2022.
Foley bought a 15 percent share of T-Mobile Arena after it opened.
T-Mobile Arena officially has 17,367 fixed seats for Golden Knights games. But the announced attendance routinely soars above 18,000 during NHL playoff games.
The arena also houses Las Vegas-based UFC as an official tenant and attendance hit 20,067 for a gate of $16.5 million at UFC 300 April 13.
There are bigger arenas in the U.S. in terms of square footage and number of seats.
But you will not have too many complaining customers at events at T-Mobile Arena.
The arena has an open feel on the main concourse with exposed ceilings and limited ad clutter. The upper bowl provides very decent sight lines because there is only one level of suites.
There is just enough premium seating in suites, clubs and special areas like Hyde Lounge with its two perches overhanging a couple of arena corners to give the arena the right balance of upscale experiences with life in the stands.
T-Mobile Arena is a consistent moneymaker as one of the world’s top top grossing arenas for its size category.
One of its unique ownership quirks is that with AEG owning a share of the arena, a Golden Knights’ division rival, the Los Angeles Kings, has an interest in the venue’s well-doing. That’s because AEG owns the NHL Kings.
T-Mobile Arena will be rocking in two days when the Golden Knights host the Dallas Stars in Game 6 of the Stanley Cup playoffs’ first round. The series is tied at 2-2 with Game 5 tonight in Dallas.
PSA
