The naming rights deal comes in the early stages of planning upgrades to the city-owned concert arena that was the Arizona Coyotes' home for 19 years.
Glendale City Manager Kevin Phelps wouldn't say how much Desert Diamond Casinos & Entertainment is paying to have its name across the arena near Loop 101 and Glendale Avenue. He said the deal was struck by the arena's manager ASM Global, not the city.
The naming rights negotiations have been in the works for about five months, but really ramped up in the last 90 days, Phelps said. The naming rights deal was a private agreement between Desert Diamond Casinos & Entertainment and ASM Global, Phelps said, declining to disclose the value of the deal.. The city pays the company $5.6 million annually to manage the arena, which is offset by shared arena revenues.
"For us it seems like the perfect opportunity and fit," Bean said, adding that without the Coyotes in the arena, there will be more chances for concerts and other events that now will not have to be scheduled around the hockey season."We see so many synergies and opportunities." A city-commissioned report last year said adding more special events should make the arena more lucrative than it was as a professional sports venue.
The city also plans to revamp the arena with concerts and non-hockey events in mind. The city and ASM hired HOK, a global design company, to assess the arena and identify areas where renovations could be made.