MGM chairman says arena should draw private funds

LAS VEGAS - Mayor Oscar Goodman's dream of a sports arena in downtown Las Vegas may have hit a snag.

J. Terrence Lanni, president of MGM Grand, Inc., said Thursday he thinks any such arena should be built with private funds and not tax money.

Lanni's comments came a day after MGM wrapped up the acquisition of Mirage Resorts, Inc. making it one of the largest gaming companies in the world and Nevada's largest employer with 49,000 workers.

''If the public wants an arena, I think they can do what was done in San Francisco and fund it privately,'' Lanni said. Pacific Bell Park, home of the San Francisco Giants, was paid for by Giants' owner Peter Magowan and private sources.

The idea of building a downtown sports arena that would be home to a sports franchise was suggested last summer by Steve Wynn, who was Mirage chairman at the time.

Since then, Goodman has campaigned for an arena to bolster the downtown economy, and has courted possible National Basketball Association and National Hockey League franchises.

Lanni said an arena paid for with public funds would be unfair to his shareholders. MGM Grand owns the MGM Grand Garden arena.

Lanni also expressed doubts about Las Vegas landing a pro sports team.

Goodman was upset with Lanni's opposition.

''He wants to do what's best for MGM; I'm trying to do what's best for the people of Las Vegas,'' the mayor said.

The mayor said there has no decision on funding for any arena and no one has ever suggested taxpayers pay for it.