Wireless operator T-Mobile has bought the naming rights to the $375 million arena being built by MGM Resorts International and Anschutz Entertainment Group (AEG) that is set to open on the Strip in April this year, the Las Vegas Review-Journal reported on January 7.
The building, informally called Las Vegas Arena for the past two years, is officially the T-Mobile Arena now.
The Bellevue, Washington-based wireless operator reached the arena title sponsorship agreement with AEG, MGM Resorts’ 50-50-partner on the 20,000-seat arena. While T-Mobile US Inc.’s wireless competitors such as AT&T and Verizon have already made naming rights deals with other arenas in the U.S., this is T-Mobile’s first such corporate arena title deal with a venue owner.
Rick Arpin, MGM Resorts International senior vice president for entertainment, was quoted by Review-Journal as saying, “This was their one shot (at a first naming rights deal), and they wanted to make it a good one.”
T-Mobile plans to activate its naming rights deal with special VIP and ticket deals for its growing number of customers. T-Mobile reported service revenues of $6.3 billion in the third quarter of 2015, touting itself as the fastest-growing wireless company in the US with 2.3 million new customers in the quarter for a total of 61.2 million customers.