Ultimate Sports Entertainment Unveils $4 Billion Las Vegas Plan - Saturday 28th of January 2006
LAS VEGAS – Today Ultimate Sports Entertainment, Inc. unveiled plans for the world's first, sports-mega-resort complex. The complex will sit on 116 acres of land (currently in escrow) in North Las Vegas near the Las Vegas Motor Speedway. Architectural renderings were displayed showcasing the $4 billion project's 5,500 rooms, ten sports arenas, 150,000 sq. foot casino and 750,000 sq. foot convention center.
The project is based on a hybrid "casino," "destination," and "sports" business model. For instance, the final name of the resort will be determined through a naming rights deal similar to those recently associated with stadium, arena and title sponsorships in sports. The resort will provide sports-minded consumers with unparalleled access to watch sports, play sports, test state-of-the-art sports equipment and enjoy the finest assembly of sports memorabilia, collectibles and trading cards. In addition, visitors can purchase the widest range of sports-related products in the world.
"Forty million people visit Las Vegas every year with live entertainment dollars to spend, but there are very few entertainment options between the hours of 9 a.m. and 7 p.m.," said Matt Rose, President and CEO of Ultimate Sports Entertainment Inc. "We plan to meet that need and then provide 150,000 square feet of casino, food to satisfy every palate and budget and amazing nightlife that will keep our guests and visitors entertained 24 hours a day."
Ultimate Sports Entertainment Inc. enjoys the support of the United States Olympic Committee, more than 25 National Governing Bodies and countless sports organizations who are interested in holding regional and national competitions at the resort once it is completed.
"The venue, hotel and food and beverage revenue generated through hosting countless regional and national competitions will in and of itself ensure profitability before the first gaming-related dollar is counted" said Rose.
"The official announcement of the Ultimate Sports Resort in Las Vegas is great news for the sport of tennis and all sports," said Jim Baugh, President, Tennis Industry Association. "It is so exciting to know that there will be a destination which will 'keep people moving' while enjoying the sports and recreational activities American's love ... combined with the experience of Las Vegas".
To bring the vision to reality, Ultimate Sports Entertainment Inc. has assembled an all-star team of resort and casino development and management professionals. The Navagante Group, led by former Chairman and CEO of the MGM Grand Larry Woolf, will provide management expertise. The Perini Building Company, builders of the Luxor, Paris, Palms and Hard Rock hotels will manage construction. Leading stadium and arena architectural design firm HOK Sports, the company responsible PetCo Park, Reliant Stadium, The Pepsi Center, Philips Arena, Coors Field, and Heinz Field will design the facility. Ultimate Sports Resort has selected Constellation Energy, the nation's leading supplier of competitive electricity to large commercial and industrial customers, to design, build and manage their on-site full-service power, cooling and heating plant.
"The combined experience and success of the organizations involved, coupled with the project's innovative vision and business model is going to make this project the new standard by which future projects are judged," said Woolf.
The resort will represent the world's largest hotel with 5,500 guest rooms including 4,000 affordable fixed-rate rooms, 1,000 luxury suites and 500 ultra-luxury suites. The 150,000 square-foot casino will include a 50,000 square feet glass-enclosed "Smoke-Free" gaming area and 750,000 square feet of convention space. The 10 arenas and numerous training areas will be capable of supporting every sport imaginable. The resort will have in-door batting cages, a climate-controlled golf driving range, rock climbing walls, racquetball courts, a state-of-the-art gym, billiard room, bowling alleys and other attractions too numerous to mention.
A trademark characteristic of the Ultimate Sports Resort will be the exterior design of its four primary hotel towers, which will feature towering LED displays. Each tower is capable of broadcasting sporting events taking place inside, as well as, advertising for corporate partners and sponsors that will be visible from miles away.
With its North Las Vegas address near the Las Vegas Speedway, the Ultimate Sports Resort also represents a pivotal component to the city's aggressive development plans. These plans include a new three-mile UNLV campus expansion, a V.A. Hospital, new corporate headquarters for communications giant Qualcomm, expanded residential housing projects and a new light rail system.
"Projects such as the Ultimate Sports Resort are invaluable catalysts for a host of expanded business development opportunities, global exposure, employment opportunities and increased revenues for our city," said Michael Montandon, Mayor of North Las Vegas. "You really can't put a value on how important a project like this will be to the future of North Las Vegas."
"People ask me why we aren't on the "Strip" and I tell them we are building the single greatest sports and entertainment destination in the world, our intention is not to be numbered as one of the many, as we are quite certainly ... one of a kind," said Rose. "Sports are the number one entertainment genre in the world, and we firmly believe a predominant portion of the forty million annual visitors to the Las Vegas Strip will want to drive less than 15 minutes to experience the sports world's answer to Disneyland."
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