MGM Resorts: Vegas Strip arena in the works - WAFB 9 News Baton Rouge, Louisiana News, Weather, Sports

MGM Resorts: Vegas Strip arena in the works

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Plans for the 20,000-seat arena west of Las Vegas Boulevard call for it to be situated between New York-New York and Monte Carlo properties. (Joe Lybarger/FOX5) Plans for the 20,000-seat arena west of Las Vegas Boulevard call for it to be situated between New York-New York and Monte Carlo properties. (Joe Lybarger/FOX5)
LAS VEGAS (FOX5) -

MGM Resorts revealed plans Friday that would add a 20,000-seat sports and entertainment venue in the heart of the Las Vegas Strip.

According to the Las Vegas-based resort and gaming company, the indoor arena would be situated on land west of Las Vegas Boulevard, in between its existing New York-New York and Monte Carlo casino properties. The arena would extend from the Strip to Frank Sinatra Drive, MGM Resorts described.

The company is teaming up with arena developer and manager Anschutz Entertainment Group (AEG) for the privately-funded project.

AEG is noted for the development and management of sports arenas including Staples Center in Los Angeles and O2 Arena in London.

MGM Resorts Chairman Jim Murren said he eyes a complete revitalization for the area south of its CityCenter development.

"This new facility would be an extension of our entertainment legacy and continue our leadership position in the worlds of boxing, sports, concerts and other events that drive significant visitation and revenue to Las Vegas," Murren said.

For its part, AEG touted its significance in markets in the west coast.

"This partnership with MGM brings together the two largest promoters and operators of live entertainment venues in Las Vegas, guaranteeing the long-term success of the new arena," AEG President Timothy Leiweke said.

Design and planning is under way for the project, MGM Resorts said. There was no timetable announced for the venue's opening.

Stay with FOX5Vegas.com for the latest on this continuing story.

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