POSTED: 12:32 p.m. HST, May 1, 2014
LAST UPDATED: 10:56 p.m. HST, May 1, 2014
LAS VEGAS >> Officials have broken ground on a 20,000-seat arena along the Las Vegas Strip that's expected to improve the city's chances of attracting professional sports teams.
Boxing legend Floyd Mayweather arrived at the ceremony Thursday on a construction tractor and helped turn dirt at the site while confetti rained down from above.
The project is a collaboration between casino company MGM Resorts International and sports and entertainment giant AEG.
The $375 million arena will be near the New York-New York and Monte Carlo casinos.
The privately funded project is the furthest along of several arenas proposed for Las Vegas in recent years. Mayor Carolyn Goodman has championed a 20,000-seat arena in the revitalized downtown area that would be financed with a combination of private funds and city-issued bonds.