Vegas’ All Net Arena Fails to Meet Yet Another Deadline

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Posted on: September 8, 2023, 12:00h. 

Last updated on: September 8, 2023, 12:00h.

This week, the All Net Resort and Arena project on the Las Vegas Strip missed another deadline and requested another extension.

The 22,000-seat basketball arena and non-gaming hotel project — proposed for the 26 vacant acres between the Sahara and Fontainebleau — missed a Sept. 6 cutoff to begin construction and has asked for 90 more days.

All Net Arena site
The proposed Las Vegas Strip site of the All Net Resort and Arena — located where a Wet ‘n Wild Waterpark operated from 1985 to 2004 — has remained vacant since construction plans were first proposed 10 years ago. (Image: KSNV-TV)

That request will be considered at a Town Advisory Board meeting on Oct. 10. The board will then make a recommendation for final action to be considered at a Nov. 8 Clark County Commission.

Clark County Commissioner Tick Segerblom has already told KVVU-TV that if the project goes before the commission again, “it will be tough” for it to pass unless funding is proven.

Last year, Clark County granted All Net what it deemed a “final” extension on its land use permit that mandated the start of construction by this past Wednesday. It passed by a very narrow vote of 4-to-3.

The project’s next County Commission meeting could be avoided if construction begins by then. But, if history is any indication, it won’t.

All Net Arena rendering, Las Vegas
All Net’s most recent plans, envisioned in this rendering, includes a 22,000-seat retractable roof arena, two luxury hotel towers, a convention center, movie theater and grocery store. (Image: Scott Roeben/Vital Vegas).

Latest Hurdles for All Net Arena Project on Las Vegas Strip

The highly-anticipated All Net Resort and Arena project in Las Vegas is facing more delays and requesting additional time to begin construction.

The project, which includes a 22,000-seat basketball arena and non-gaming hotel, was scheduled to begin construction by September 6th. However, the deadline was missed, and now the project is seeking a 90-day extension.

All Net Arena site
The proposed All Net Resort and Arena on the Las Vegas Strip has remained vacant for the past 10 years despite construction plans. (Image: KSNV-TV)

The request for an extension will be reviewed during a Town Advisory Board meeting on October 10th. The board will then make a recommendation to the Clark County Commission, which will consider final action on November 8th.

Clark County Commissioner Tick Segerblom expressed skepticism, stating that it will be difficult for the project to gain approval without solid funding. Last year, the county granted All Net a “final” extension on its land use permit, but the project is yet to begin construction.

If construction does not commence soon, the project will face another County Commission meeting. However, based on past experiences, the project’s history suggests further delays are likely.

All Net Arena rendering, Las Vegas
The proposed All Net Resort and Arena includes various amenities such as a retractable roof arena, luxury hotel towers, a convention center, movie theater, and grocery store. (Image: Scott Roeben/Vital Vegas).

All Net’s Longstanding Financial Troubles

The All Net Resort and Arena project, originally announced in 2013, has faced numerous funding challenges throughout its development. Despite claims of secured funding from various entities such as Credit Suisse, the Bank of Qatar, and Korean backers, each deal fell through.

The project’s current funding source is Clearwater Perpetual Master Trust, a family investment fund based in Wyoming. However, County Commissioner Tick Segerblom emphasized the need for solid financial proof before granting approval for the project.

In 2017, the All Net project portrayed the illusion of progress by parking trucks on the site, which left the lot empty once again. (Image: Scott Roeben/Vital Vegas).

Challenges Ahead for All Net Arena Project


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