Las Vegas just opened its third arena without a pro sports team to play in any of them, plus it’s considering building a pro football stadium, plus it has yet another arena (with a retractable roof!) that broke ground in 2014 and then has never been heard from again. So you know what that city really needs? Another arena:
[Madison Square Garden] announced Wednesday that it will build a 17,500-seat arena just off the Las Vegas Strip…
The new venue is a partnership among Madison Square Garden Co., Sands Corp., Azoff MSG Entertainment, concert promoter Live Nation and Oak View Group, an entertainment advisory firm.
“This will be a state-of-the-art venue of the future, an entertainment-only venue,” O’Connor told The Times.
On the one hand, this is not entirely crazy, because MSG successfully remodeled the L.A. Forum as a concert-only venue, and certainly they and Live Nation know something about the concert business. (The plan is for this new as-yet-un-price-tagged arena to have all its seats in front of the stage, so really “arena-sized theater” might be a better description.) On the other hand, it is completely crazy, because even if Las Vegas is a huge tourist destination, how many arena concerts can one city reasonably host? Even New York City only has three arenas (four if you count the Nassau Coliseum), and New York has like five times as many people living there as Vegas would have even if you double-booked all its hotel rooms.
This can only end with at least one of the Vegas arenas eventually going out of business. The good news, at least if you believe MSG officials, is that this will involve no public money, so it’s just the sort of crazy land rush that corporations would occasionally engage in even if subsidies didn’t exist. At least in Vegas, because that place apparently makes even corporate bean counters lose their minds.