It was supposed to be a next level sports, resort, shopping and living destination that was tailor made for an NBA team when the All Net Arena was announced in 2013. Unfortunately, setback after setback has left nothing but a blank patch of dirt north of the at least somewhat finished Fontainebleau. Well, there’s been another setback.
Clark County Commissioner Tick Segerblom has announced that the project, which claimed to have secured nearly $5 billion in funding, is once again clamoring for funding.
At first blush, you would think this project would be a no-brainer. A gargantuan 20,000 seat arena featuring a first-of-its-kind retractable roof, flanked by hotels, shopping and dining. The renderings are absolutely gorgeous.
Sadly, the reality behind the project is absolutely barren. The land, formerly the home of Wet N Wild on the Las Vegas Strip, has remained almost entirely devoid of structure (and work) for a decade. It was getting to the point that Clark County was going to let their permit to build lapse, but they received a stay of execution.
Then, last October, a miracle. The project had funding and was pushing forward. Finally, this mirage in the desert was going to become a reality. Almost immediately after announcing that, the group behind it (led by former UNLV star Jackie Robinson) said they were going to throw $2 billion at a project to resurrect the historic Moulin Rouge resort.
Wait… didn’t we? Weren’t you just? Why are you…? What about the All Net Arena?
Unfortunately, if the project doesn’t get off the ground by September, the clock may strike midnight for their permit to build. Better to not get built than to sit partially built and unfinished. But hey, even Fontainebleau got its act together.
Further south on Las Vegas Boulevard, All Net Arena faces a big challenge
It certainly doesn’t help when another project with NBA aspirations is getting underway right down the road. Oak View Group, the people behind the Climate Pledge Arena in Seattle, bought 25 acres at Las Vegas Boulevard and Blue Diamond Road. Are there incredible renderings? No. Is there a lot of buzz? No. But there is a plan, from people with a track record of following through on them, for a $3 billion project featuring a 20,000 person arena, casino and resort. Sound familiar? It does. And it could spell the end to a great idea with a terrible track record.