With the Las Vegas sports market booming, City National Bank is doubling down.
The bank on Sunday announced a deal with MGM Resorts International and AEG to become the exclusive financial services partner for T-Mobile Arena and MGM Grand Garden Arena.
City National was already the official bank of the Vegas Golden Knights and holds the naming rights to the team’s Downtown Summerlin practice arena.
The announcement was made prior to the Golden Knights’ Stanley Cup playoffs victory over the San Jose Sharks.
“We’re very focused on helping the community,” said Russell Goldsmith, the bank’s chairman. “Here at T-Mobile (Arena), you’ve got an important and galvanizing economic force that’s good for the community, the town and the economy. We felt like this was a chance to commit more to Las Vegas.”
As part of the multiyear agreement (financial terms were not disclosed), all of T-Mobile Arena’s business banking accounts will be handled by City National.
The bank will also have a beefed-up brand presence as the T-Mobile and MGM Grand Garden arenas. T-Mobile Arena will feature a new City National Bank premium level at the venue and five new ATMs.
“When we got together with AEG a few years ago and dreamed (T-Mobile Arena) up, we said build it and they will come and they came,” said Bill Hornbuckle, president and COO of MGM Resorts International. “Last year, T-Mobile was the single-largest grossing arena in the world. We’re pleased to welcome City National Bank as the newest founding partner at T-Mobile Arena and the exclusive financial services partner for the MGM Grand Garden Arena.”
City National Bank, which has had a presence in Southern Nevada for about a dozen years, also has partnerships with the Los Angeles Angels and Los Angeles Clippers.
A subsidiary of Royal Bank of Canada, City National controls more than $51 billion in assets, has four branches in the greater Las Vegas area and three more Nevada locations in Reno, Carson City and Minden.