An odd bird takes flight

I am speaking of a privately funded sports arena, to be built in Las Vegas. From CNNMoney.com:

Harrah's Entertainment, Inc. and AEG today unveiled plans for of an approximately 20,000-seat, privately financed, state-of-the-art arena. This arena is envisioned to be Las Vegas' new home for the most popular and important sports and entertainment events. The site of the venue will be one block east of the world famous Las Vegas Strip on approximately 10 acres of land that is part of the current Harrah's land holdings.

As managing partner, AEG will be responsible for developing, operating and programming a full range of live sports and entertainment events including concerts, boxing matches, special events and awards presentations, as well as sporting events, tournaments and exhibitions. The arena will be constructed and configured in a manner that will make it capable of housing an NBA or NHL franchise.

What, no public subsidy? Heavens to Mergatroid!