The Stage

£5bn leisure complex deal struck for Dome

Published Tuesday 22 June 2004 at 10:25 by Ruth Gillespie

Developers have signed a landmark deal with Greenwich council to build a £5 billion entertainment complex at the Millennium Dome by spring 2007.

Work will begin later this year to turn the site in south London into a 20,000-seat sports and entertainment arena. However, plans to open a Las Vegas-style casino and hotel resort will not be confirmed until the new UK gaming legislation comes into force, probably in 2006.

Agreements have been signed between regeneration agency English Partnerships, which owns the land, the Anschutz Entertainment Group, which will develop and operate the inside-Dome complex, and the London Borough of Greenwich.

AEG, which also owns the Staples Center in Los Angeles and the Kodak Theatre where the Academy Awards are hosted, will run the concert venue and hopes to attract performers such as U2 and Britney Spears.

Timothy Leiweke, president and chief executive officer of AEG, said: “This announcement reaffirms Anschutz’s commitment to develop Europe’s finest entertainment and sports arena in London, the city we believe to be the world’s most important entertainment market. With our promise to create this world-class destination goes our pledge to join the bid to secure the 2012 Olympics for London. We look forward to starting on site.”

Redevelopment of the Dome, which has fallen into disrepair since it was closed to the public in 2001, is part of a larger regeneration plan for the Greenwich peninsular, supported by London Mayor Ken Livingstone. The scheme will provide 10,000 new homes, retail units, schools and improvements to local transport and will lead to an estimated 24,000 new jobs.