February 11th, 2012, 10:42 PM
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#11
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Whiskey Tango Foxtrot
Join Date: Oct 2009
Location: ELP ~ ABQ
Posts: 29,633
Likes (Received): 1360
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Vegas Inc
Quote:
Chinese company agrees to finance proposed Henderson arena
Friday
10 February 2012
A Chinese company and its banks have tentatively agreed to finance a $650 million arena in Henderson, the arena developer announced Friday.
Whether the Silver State Arena will actually get off the ground, however, is an open question, despite Friday’s announcement by developer Chris Milam’s companies, Las Vegas National Sports Center and International Development Management.
It’s an open question because of the many hurdles Milam needs to overcome and questions about the arena project.
Milam’s companies said China Security & Surveillance Technology Inc. of Shenzhen, China, and its Chinese banking partners signed a “memorandum of understanding” providing for full financing of the 17,500-seat arena.
Friday’s announcement covered only the indoor arena portion of what has been billed as potentially becoming a $1.3 billion project that would include a separate open-air stadium. The proposed site is on Bureau of Land Management property south of the M Resort.
China Security & Surveillance, in a regulatory filing, said it had $1.4 billion in assets as of June 30.
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