MGM and Caesars are building entertainment districts around some of their properties on the Las Vegas Strip.
MGM will create a park-like pedestrian plaza in front of New York New York and Monte Carlo in 10 acres that will be anchored by its planned 22,000-seat arena. The plaza will cost $100m.
Scattered throughout the plaza and park will be bars, restaurants and retail shops, including a two-storey interactive Hershey’s Chocolate World flagship store.
The Monte Carlo will see its European style exterior removed, while at New York New York the skyline and Brooklyn Bridge will be modified. Work is set to begin in the coming weeks with completion slated for early next year.
MGM had previously announced it is working with sports presenter AEG on the arena. The park and arena will encompass 10 acres.
MGM is the second operator to dress up existing properties rather than build new multi-billion resorts. Caesars is spending $550m on the Linq, a restaurant and entertainment district between the Flamingo and The Quad, the former Imperial Palace, which is undergoing a facelift. The district will be anchored by a 600ft. high observation wheel.
Not part of Linq, but nearby, Caesars is investing $185m to transform the former Barbary Coast into an upscale 188-room Gansevoort Hotel casino.
