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VICI Properties, Caesars Entertainment looking at building Vegas NBA arena
LAS VEGAS (KTNV) — The list of groups vying to build an NBA arena in Las Vegas is continuing to grow.
During a company earnings call on Thursday, John Payne, VICI Properties President and Chief Operating Officer, told investors the group is looking at teaming up with Caesars Entertainment to construct a new arena.
“There are many people bidding on that team. We own, in conjunction with our partner Caesars, and we’re working with them, 50 acres of land behind Paris, Horseshoe, and Planet Hollywood,” Payne said. “We are developing a plan with Caesars, Sean McBurney [Chief Commercial Officer and Regional President of Las Vegas for Caesars] in particular, who runs Las Vegas, to house the arena that could be built for the new NBA team. That’s just an example of us working with one of our partners.”
Payne added that Vegas continues to reinvent itself and the sports market has rapidly grown.
“The prospect of an NBA franchise stands to extend the trajectory further,” Payne said. “Every new demand driver makes Las Vegas that much harder to bet against.”
Multiple groups are looking at building an arena and/or bringing an NBA team to town.
Just a few weeks ago, sports reporter Alex Eschelman told you about the Las Vegas Jacks, which is an ownership group led by Hall of Famer Jerry Colangelo.
Las Vegas Jacks join battle to bring NBA expansion team to Las Vegas
Last month, Vegas Golden Knights owner Bill Foley announced he is one of the bidders on a new team, which he proposed would play at T-Mobile Arena.
A group led by Joshua Kushner, who is the brother of President Donald Trump’s son-in-law Jared, and Bob Iger, former CEO of Disney have voiced interest as well as former Milwaukee Bucks owner Marc Lasry.
In April, developers announced plans for the Las Vegas Diamond Arena, which would be located across from Mandalay Bay.
Las Vegas mayor Shelley Berkley has also pitched an NBA arena in Downtown Las Vegas on a 20-acre plot near City Hall, which is owned by Blackstone.
Starr Vegas also proposed a $10 billion, 63-acre master-planned sports and entertainment district back in April.
This spring, former NBA star Magic Johnson announced his group met with Nevada leaders and expressed interest in bringing a team to Las Vegas.
The Three Affiliated Tribes of the Fort Berthold Indian Reservation own 23 acres of land across from the Luxor and have building an arena as part of their proposed $2 billion development.
In 2024, LVXP officials announced plans to build an arena on a 27-acre site across from the Fontainebleau and the Las Vegas Convention Center on the former Wet’n’Wild Las Vegas site.
Back in 2023, Tim Leiweke, the CEO and Chairman of Oak View Group, said he wanted to build a $10 billion privately-funded 66-acre sports campus with an arena to help bring an NBA franchise to Las Vegas.
You may also remember the failed All Net Resort & Arena project.
CHANNEL 13 ARCHIVES: NBA, UNLV basketball player Jackie Robinson walks Channel 13 through arena plans in August 2014
NBA, UNLV great Jackie Robinson walks Channel 13 through arena plans
The NBA Board of Governors voted in March to authorize the league to formally explore potential team expansion to Las Vegas and Seattle.
The NBA secured investment bank PJT Partners as a strategic adviser to evaluate prospective markets, ownership groups, arena infrastructure, and the broader economic implications of expansion.
When the NBA Summer League was in town, Commissioner Adam Silver was asked about a potential expansion franchise.
“I’m fond of saying we already have a franchise here and it’s the Summer League. It’s in essence operated as our 31st team for 22 years, so it’s quite remarkable,” Silver said earlier this month. “I really appreciate what we’re seeing so far so it’s very encouraging. No votes have been taken yet. We’ve got a ways to go in terms of discussions with interested parties, but I’m optimistic about the future here.”
Silver said the league’s owners want to decide the next expansion by the end of the year.
