http://www.cnbc.com/id/37447169
its interesting that he would say something like that given the current situation. i wonder if its just a misunderstanding or if they actually believe its not really necessary right now...
Darren: Speaking of the building, you guys have been lobbying to get out of Arco, which was built in 1988, for a long time. But things have changed in the business landscape. The reason for wanting to get out of Arco was to enjoy all the luxury suite revenue that all the new arenas provided teams. That revenue isn't what it used to be. Does that change things?
Maloof: That's true. It's a lot different from two or three years ago when franchises were depending on selling out those suites or club suites or bunker suites. So the truth is that we don't need a new building as much as we did a couple years ago. If we can't fill the suites now, what's a new arena going to do? They won't automatically fill up. We have to go back to customer, we have to do a great job with group ticketing and we have build a team that will win.
Darren: Vegas has had a hard couple years. A couple years ago, a lot of people were saying we'd see a pro franchise in Vegas. Still true today?
Maloof: I just don't see it. What is someone going to build an arena for $600 million and pay $400 million for a franchise? I just don't see that.
Maloof: That's true. It's a lot different from two or three years ago when franchises were depending on selling out those suites or club suites or bunker suites. So the truth is that we don't need a new building as much as we did a couple years ago. If we can't fill the suites now, what's a new arena going to do? They won't automatically fill up. We have to go back to customer, we have to do a great job with group ticketing and we have build a team that will win.
Darren: Vegas has had a hard couple years. A couple years ago, a lot of people were saying we'd see a pro franchise in Vegas. Still true today?
Maloof: I just don't see it. What is someone going to build an arena for $600 million and pay $400 million for a franchise? I just don't see that.
its interesting that he would say something like that given the current situation. i wonder if its just a misunderstanding or if they actually believe its not really necessary right now...