There's a new video game awards show in town. Announced on Monday, the Game Awards 2014 will be held in Las Vegas on Friday, December 5, which just so happens to be one day before Sony hosts its PlayStation Experience community event, also taking place in Sin City.

The Game Awards 2014 will be held at the Axis Theater inside Planet Hollywood starting at 9 p.m. ET. Tickets to the event are on sale through Ticketmaster priced at $45 each including fees. In the event you can't make it to the live show, fret not as the evening's proceedings will be broadcast live over the PlayStation Network, Xbox Live, Steam and on the PC.

In addition to the awards ceremony, event promoters promise there will be world premiere announcements, musical performances and a few other surprises.

The event is likely to be a pretty big deal as it has the support of a number of major industry players including heavyweights Microsoft, Nintendo and Sony. Third-party publishers such as Electronics Arts, Rockstar Games, Ubisoft and Warner Bros. are also backing the venture.

It's being produced by Geoff Keighley, the same person responsible for putting on the Spike Video Game Awards (later branded as VGX). While we don't yet know specifics of the show, we do know that it will be guided by an advisory board that includes members from Electronic Arts, Kojima Productions, Microsoft, Nintendo, Sony, Ubisoft, Rockstar and Valve.