This week, the competition to establish an NBA arena in Las Vegas intensified as VICI confirmed its collaboration with Caesars Entertainment to develop a 50-acre parcel of land situated behind Paris Las Vegas, Horseshoe Las Vegas, and Planet Hollywood.
The initiative was disclosed during VICI’s earnings call for the second quarter on Thursday (July 30).
Establishing a Home Court
“Numerous bidders are interested in securing that team,” stated VICI president and COO John Payne. “Alongside our partner Caesars, we possess 50 acres of land adjacent to Paris, Horseshoe, and Planet Hollywood, and we are formulating a plan with Caesars—led by Sean McBurney, who manages Las Vegas—to accommodate an arena for the prospective NBA team.”
McBurney oversees Caesars’ collection of eight resorts on the Strip, while VICI is the real estate investment trust established during Caesars’ 2017 bankruptcy reorganization, which transformed the casino giant into a tenant of the majority of the properties it originally owned.
The proposed arena site remains co-owned by both entities, granting them control over one of the most significant undeveloped parcels on the Strip.
A Legacy of Unmet Aspirations
This sizeable vacant tract within the resort area has drawn interest for development over the decades, largely due to its advantageous location. Nearly two decades ago, it was even considered as a potential site for a baseball stadium when the Montreal Expos contemplated relocation.
The allure of the land as an arena location is clear. It is conveniently located within walking distance of major resorts and provides ample space for retail, dining, and entertainment options that could complement a prominent sports venue.
Since 2023, part of the property has been home to the BattleBots Arena, accommodating 1,000 to 1,200 spectators for the live robotic combat show inspired by the television series BattleBots.
The proposal from Caesars and VICI emerges as various entities position themselves ahead of prospective NBA expansion. Recent months have seen various arena concepts rise throughout the Las Vegas Valley, indicating mounting confidence that the league is nearing a decision regarding the addition of new franchises.
Earlier this year, the NBA officially began exploring expansion avenues in both Las Vegas and Seattle. Commissioner Adam Silver has mentioned that the league aims to make headway on expansion plans before the year’s end, keeping Las Vegas as a frontrunner for acquiring a new team.