When it comes to Las Vegas, change is a constant, particularly in a city where sentimentality always takes a back seat to nostalgia, and 2016 will see some major changes.
Most noticeable will be the opening of the new 20,000-seat T-Mobile Arena, located between the New York-New York and Monte Carlo casinos on the south end of the Las Vegas Strip. The arena opens in April and is owned by MGM Resorts International, which recently sold the naming rights to T-Mobile for $365 million, which is about how much it cost to build.
The arena has several large concerts scheduled, and might be home to an NHL franchise, for which Las Vegas locals preordered some 14,000 season tickets, despite not having a franchise. Its construction had many people wondering what MGM would do about parking, which MGM recently answered by announcing it will be the first parking fees charges on the Las Vegas Strip.
MGM will charge fees at all its properties on the Las Vegas Strip, except the Circus Circus casino on the north end and at a commercial shopping center at the Mandalay Bay. Speaking to a gathering of business people and local officials, MGM CEO Jim Murren said it will cost visitors about $10 for overnight parking at its 11 Las Vegas Strip properties, other than the Circus Circus.
MGM also announced it is opening the Park, which will be busker-free and feature tree-lined walks and seating areas, plus restaurants, stores, and other commercial attractions. MGM says it won’t allow street performers on the Park, which means panhandlers likely will be discouraged, too, and the Park will open in March, giving visitors to the T-Mobile Arena places to linger before and after special events.
MGM also announced it is outsourcing its valet parking to a Chicago-based company, although there will be no immediate change, aside from a uniform change, for current valet workers. They simply have a new employer, but retain their MGM seniority if they choose to seek an MGM job.
Another big change coming is the $2.3 billion expansion of the Las Vegas Convention Center, which necessitated the Las Vegas Convention and Visitors Authority buying the Riviera Casino, which it closed last year and plans to tear down this year to make way for an outdoor exhibition area.
While significant changes are happening on the Las Vegas Strip, in North Las Vegas, the area’s biggest change is underway, as Faraday Future begins planning for its $1 billion electric car plant.
Faraday chose North Las Vegas over several other locations in other states, including in Georgia, Louisiana, and Illinois, and selected Las Vegas due to a friendly business climate, more than $215 million in tax incentives, and the city’s relative proximity to shipping ports along the West Coast.
Faraday Future representative Dag Reckhorn in January told the Las Vegas Metro Chamber of Commerce the company is working feverishly to open its plant, which is located in the Apex Industrial Park in far North Las Vegas. Groundbreaking is scheduled during the first quarter, and Faraday plans to start moving equipment in by the end of the year.
Reckhorn estimated the construction project will create 2,000 jobs, while the plant will create another 4,500 direct jobs over the next decade. Faraday also estimates another 9,500 related jobs will be created to support the factory and its workers and staff once it reaches full production by 2018.
