The theater sits adjacent to the T-Mobile Arena and Toshiba Plaza.

The theater was announced in July 2015,[2] as part of the mass redevelopment of the aging Monte Carlo Resort and Casino.

[3] Spearheaded by MGM Resorts International and AEG,[4] construction began November 2, 2015 on the "MGM Resorts Theater"[5] (later known as the "MCR Concert Hall" before settling on its current name)[6] at the site of the former Lance Burton Theatre.

After one year of construction, the $90 million theatre opened on December 17, 2016, with a concert by Stevie Nicks.

As part of the agreement, the theater's sound system was upgraded to use Dolby Atmos,[11] making it the first performance venue to use such technology.