exactly.

I think their goal is to put the bigger events in the arena and then be able to have another venue to pull other events.

so they are basically just trying to double dip.

like the owner of a restaurant we frequent that opened a bar next door last year and just opened another restaurant down the street. I was like, aren't you afraid of just slicing up your revenue? and he said he's just expanding his ability to take business from the other 20 restaurants in the area not from himself. and so far that's exactly how it's worked out. all his restaurants are packed every night, so he obviously took the business from somewhere else.

but the question is are there enough quality events to go around?

they already have MB events center that hardly has had anything worthwhile in years since everything has been going to MGM lately.

so it may backfire.

 

Could the garden arena be converted to another use and maybe go away all together as an arena?

If after reading all of the above, and having to assume there are at least of few management level people at MGM that would consider this issue of potential lost foot traffic, (yeah a lot of assuming ) I think undathesea's thought process is closest to the most sensible theory to describe their thinking. Have coinciding events, keeping, hopefully, the same level of foot traffic in MGM and add all the additional foot traffic over in the NYNY-Monte area all at the same time.

 

FYI, MGM will be controlling the tickets at the new arena just like they control the Garden Arena.

so that's one reason they're not as worried. they can still get their players the best tickets.

 

One "floor seat" guy like you is worth more to them than several sections of the "nose bleed" seats guys like myself.

 

You're right, and I'm sorry I should have been more clear.

I don't think it's going to work, because you can't just disregard almost 40% of revenues and not suffer. I DO think that they have bad executive leadership that is probably looking at it and thinking they can succeed where Cosmo's leadership failed. In part they probably think this because they believe that their multiple resorts will help them. What they're not taking into consideration is that their multiple resorts are really only an asset because of the MLife card that lets people earn relatively flexible comps (in terms of resort redemption).

I just try to figure out what's behind their decision making of late.

My apologies for that confusion.

One thing though: If Vegas doesn't get the NHL expansion team this could REALLY blow up in their face quicker than some think.

 

I think it's cool that the garden arena would empty into the casino. The area and those pits on the walkway would fill up, I'm sure with people leaving the arena. But, I think they do need a bigger arena on the strip if they want to keep getting top level touring acts. I was at a concert on the floor at the garden arena in December. I noticed how small the arena seemed compared to Oakland arena which itself is on the smaller side. They only got 12,900 fans for the Pac 12 title game. That's not a lot. If they can get 18k for a game, or 20k for a concert that would be worth the trade off.

I think with some bigger acts MGM was loosing money on the concert because of less tickets to sell hoping to make it up w casino and resteraunt traffics. Now they can sell the same amount of tickets if not more then other arenas and hopefully (for MGM) still get a lot of the patrons to spend at their casinos and resteraunts after the show.

 

Really good point here. It's like the only competition MGM likes is with itself!

 

I may be mistaken but I think there will also be some type of larger venue at the Convention Center? Perhaps why Wynn is now developing the golf course to take advantage of the expansion?
That would compete with the new MGM arena no?
MGM must already have good reason to believe they will get an NHL team.
If so, and if the place does hurt the Garden Arena they could sell naming rights and get back a few million.

 

first the new arena suxs, not imtimate like the garden. they are going to charge alot more for tickets becuase of the new arena, and more corprate boxes tacking away good seats from regular people, the arena will blow.

 

most shows that would have gone to the mgm will now go to the new arena for an inflated price with worse sight lines for fans