Caesars Entertainment, in collaboration with VICI Properties, has officially announced plans to construct a new NBA arena on a 50-acre site located behind three prominent resorts on the Las Vegas Strip. This marks the first public confirmation of the project as the NBA considers expanding into Las Vegas.
During VICI's second-quarter earnings call, President and COO John Payne revealed the initiative, stating that the arena will be situated behind Paris Las Vegas, Horseshoe Las Vegas, and Planet Hollywood. He emphasized the growing interest in establishing an NBA team in the city, noting that numerous bidders are vying for the opportunity.
Payne mentioned, “We own, in conjunction with our partner Caesars, this land, and we are collaborating with them, particularly with Sean McBurney, who oversees Las Vegas operations, to develop plans for the new arena.”
Sean McBurney, serving as Caesars' Chief Commercial Officer and Regional President for Las Vegas, is spearheading the project for the casino giant.
This announcement is the first time either company has publicly acknowledged their pursuit of an arena on this site, which has been previously identified as a potential location for a future NBA venue.
The land in question is one of the largest undeveloped parcels on the Strip and is currently utilized for events related to the Formula One Las Vegas Grand Prix and the BattleBots Arena. There have also been discussions about its potential use for a Major League Soccer stadium.
Payne highlighted that this proposed arena aligns with VICI's broader strategy to explore future development opportunities alongside its operational partners. He also pointed out that the arrival of an NBA franchise could significantly contribute to the long-term growth of Las Vegas.
“The resilience of Las Vegas is continuously strengthened by the diversification of demand,” Payne remarked. “The potential for an NBA franchise could further enhance this growth trajectory. Each new demand driver makes Las Vegas an increasingly attractive market.”
In March, the NBA voted to begin exploring expansion possibilities in Las Vegas and Seattle, with Commissioner Adam Silver expressing hopes for a decision by the end of the year. Multiple ownership groups are currently competing to secure an expansion franchise for Las Vegas, with several potential arena sites being considered in and around the Strip.