Johnson Consulting was retained by The Cordish Company to conduct a market demand and feasibility peer review and update of a prior study done for a proposed Arena in Las Vegas, NV. There has been significant debate about the need and role of an arena in the Las Vegas market. If feasible, it is envisaged that the facility will serve as a professional sporting venue, with flexible space designed to also host trade shows, expositions, seminars, and conferences, and will become a destination in itself, contributing to the growth of Las Vegas.
In this engagement Johnson Consulting performed a peer review of the prior feasibility study for the proposed venue which included an assessment of potential operating performance with respect to event demand, attendance, and financial performance projections. We also reviewed the relative marketability of proposed facility components and prepared recommendations regarding the number of seats, required amenities, such as luxury suites, loge boxes and club seats, as well as projecting naming rights and other specialty revenue categories. Additionally, we investigated the reasonableness of the arena to exist without a professional sports tenant.