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Las Vegas Sands To Contribute $75 Million To New Arena

The Las Vegas Sands Corporation will contribute $75 million in a joint venture arena project to be built behind the Venetian and Palazzo.

Documents filed Wednesday to the Securities and Exchange Commission show Sands will pay the money to Madison Square Garden incrementally upon construction milestones.

The agreement states the foundation work must begin within 18 months. The project’s final price has yet to be determined.