Las Vegas Officials Deny All Net Arena Project Permit Extension
Las Vegas officials have decided to put an end to the ongoing saga of the All Net Arena project. The project, proposed in 2013, has faced multiple setbacks, including funding claims, unfulfilled construction promises, and deadline extension requests. On Tuesday, the Clark County Zoning Commission voted 7-0 to deny extending the project’s permits.
Years of Unfulfilled Promises
The $5 billion All Net Arena project, which was proposed in 2013, promised a 22K-seat basketball arena, a nongaming hotel, a convention center, a movie theater, and a grocery store. However, the project never took off despite repeated claims of securing $5 billion in financing.
Clark County Commissioner Tick Segerblom expressed his disappointment at the situation, stating, “We’ve followed the money everywhere around the world. And truthfully, it just hasn’t happened. So, I’m just prepared to make a motion to deny it at this point. It breaks my heart to do it.”
Jackie Robinson, the owner of the site and a former NBA and UNLV basketball legend, had consistently claimed that the project had secured funding from various sources, including Credit Suisse, the Bank of Qatar, and Korean backers. The most recent funding source announced in October 2022 was Wyoming-based family investment fund Clearwater Perpetual Master Trust, which Robinson claimed issued a line of credit for $5 billion.
Last year, the Clark County Commission granted Robinson a “final” extension on All Net’s land use permit, mandating that construction begin by September 6. However, the construction never began.
With the denial of the permit extension, Robinson would need to start the expensive permit and approval process from scratch if he wants to move forward with the All Net Arena project. The decision has effectively halted the project in its tracks, marking a significant setback for the long-standing proposal.
Despite years of promises and numerous claims of secured funding, the fate of the All Net Arena project remains uncertain as its owners face the reality of failed commitments and unmet deadlines.