AI-driven data analytics firm Loop Insights has reached an agreement to power All Net Arena, a proposed resort and arena project designed to deliver an NBA basketball franchise to Las Vegas.
Loop has signed a letter of intent with All Net to provide a custom technology stack that will power the $2.7bn (£1.9bn/€2.2bn) project. Loop’s AI data intelligence and digital wallet platform will be used to drive the partnership.
The proposed All Net Resort will be located on the Las Vegas strip and will centre on a 23,000-seat, multi-purpose arena with a retractable roof. The complex will also include a 500-room five-star hotel, 2,000-room hotel tower, convention centre, food and retail plaza, restaurants and nightclubs, and a dinner show room.
The resort will look to combine sports and entertainment events with business and corporate bookings that will appeal to upscale demographic groups including business professionals and families. The company developing the project is run by Jackie Robinson, a former NBA player who is now a successful businessman.
In October, the All Net Arena project was granted a final extension to complete multiple agreements. The project was first announced in December 2013 and received Clark County approval in August 2014.
The arena had been scheduled to open in early 2017 but little progress has been made, aside from the site having been made ready for construction. Clark County commissioners granted the project a six-month extension in October and also ruled that construction on the arena must start within two years.
Loop and All Net expect to formalise their partnership and announce commercial terms before the end of June.
Robinson, who serves as chief executive of All Net, said: “Loop Insights has become a proven and trusted provider of venue management and real-time customer engagement with its multiple recent successes in Las Vegas. As such, they were the obvious choice to support our mission of creating a seamless, highly personalised guest experience unlike anything that has ever been seen before at a major resort anywhere in the world. A revolutionary resort needs a revolutionary technology partner and we’ve found it in Loop Insights.”
Rob Anson, chief executive of Loop Insights, added: “The All Net Resort and Arena is going to be a truly revolutionary entertainment complex. The $2.7bn project is situated on a 27-acre parcel just across from the Las Vegas Convention Center consisting of multiple world-class venues, the size and scope of which signals another big win for Loop in the sports and entertainment venue capital of the world. Partnering from the ground up means Loop will provide digital innovations and truly personalised visitor experiences that are second to none.”
In the time the arena has been on the table, T-Mobile Arena opened in April 2016, bringing NHL ice hockey to the city in the shape of the Vegas Golden Knights. Allegiant Stadium hosted its first NFL game for the Las Vegas Raiders last September.
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