In 1993, Kirk Kerkorian opened his second MGM Grand, about a mile south of Bally's-Las Vegas on the Strip at Tropicana Avenue. The hotel had a world-record 5,000-plus rooms, a 15,000-seat arena and a 330-acre theme park. Kerkorian's second MGM Grand was the first Las Vegas hotel to cost $1 billion to build. Its casino, at 171,500 square feet, was almost double the size of most on the Strip.