What's the Status of the All Net Arena?

What is the status of financing and commencement of construction of the All Net Arena Project?

[The opinions in this answer are those of longtime Las Vegas journalist and LVA.com blogger David McKee.]

Do you mean the All-Debt Arena? We’ve taken to calling it that, because progenitor Jackie Robinson hasn’t got two nickels’ worth of equity to rub together. He did have financing from Credit Suisse, but the lending house bailed on him, leaving Robinson at square one.

He’s got everything — concept, rendering, name, PR, and a possible site on the old Wet 'n' Wild lot just south of SLS — except money. And frankly, given what a struggle the north Strip is, investors aren't exactly hurrying to underwrite construction projects in such an economically hexed area, especially after the Lucky Dragon closure and SLS fire sale.

Currently, Genting Group is spending at least $7.5 billion — more than anyone has ever invested in a casino resort — on Resorts World Las Vegas. If it succeeds in generating a return on investment, we think investors will be more tractable to Robinson’s pitch.

Even so, we don’t see an uptick in north Strip business until the Las Vegas Convention & Visitors Authority finishes building its expansion all the way out to the Boulevard, on the old Riviera site -- a clear case of the mountain coming to Mohammad.

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RussellMorgan Oct-18-2018

Is Jackie Robinson the new Bob Stupak?

This project is so ridiculous... groundbreaking with no financing. Then exactly a year ago today we read that the funding is there, and he's now moving on, and the County Commissioners were falling all over themselves congratulating him... and how construction was going to start by the end of 2017... then nothing again. 

Does anyone really think an NBA sized arena will survive on the north side of the strip when T-Mobile rarely has any events besides the Golden Knights, Raiders Stadium will be competing for events, and if an NBA team comes, they will almost surely play in T-Mobile. 

“It is a reality,” Robinson told LVSportsBiz.com after the county commissioners approved all the new expanded elements of the now $2.7 billion project today. “It will happen.” Ha ha ha ha ha.

Question of the Day - 18 October 2018

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