One of the leading contenders for a future Las Vegas NBA arena moved beyond speculation Thursday, with VICI Properties executives saying they are working with Caesars Entertainment on plans for a venue behind three Strip resorts.
Speaking during the company’s second-quarter earnings call, VICI President and Chief Operating Officer John Payne said the real estate investment trust is working with Caesars on plans for an arena behind Paris, Horseshoe and Planet Hollywood hotel-casinos.
“I think everyone has seen in the news that the NBA is looking to put another team into Las Vegas,” said Payne. “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, and we are developing a plan with Caesars, Sean McBurney in particular, who runs Las Vegas, to house the arena that could be built for the new NBA team.”
McBurney is chief commercial officer and regional president for Caesars, overseeing the gaming company’s eight Strip resorts.
Caesars did not respond to a request for comment Thursday.
Payne’s comments mark the first public acknowledgment by either party that a plan is underway for a potential NBA arena on the site. The land in question is several distinct plots totaling roughly 40 acres, although the trio of resorts also have buildable land abutting the parcels.
The Review-Journal reported in June that the land behind the three Caesars resorts was among several sites under consideration for an NBA arena. At the time, a source familiar with the discussions said one ownership group was interested in developing an arena along with an open-air stadium for a Major League Soccer team.
The land has long been viewed as one of the Strip’s largest undeveloped parcels. Portions of the property are used by Formula One to stage the Las Vegas Grand Prix, and the site is also home to the BattleBots Arena.
Payne discussed the project while describing VICI’s ongoing work with existing operating partners, saying the proposed arena is one example of how the company is pursuing future development opportunities.
Earlier in the call, Payne cited the possibility of an NBA franchise as another factor supporting Las Vegas’ continued growth.
“The resilience of Las Vegas continues to be reinforced by the ongoing diversification of demand,” Payne said after pointing to attractions including Sphere, Formula One, the Golden Knights, Raiders, Aces and the Athletics’ planned relocation. “Now the prospect of an NBA franchise stands to extend the trajectory further. Every new demand driver makes Las Vegas that much harder to bet against.”
The NBA formally voted in March to begin exploring expansion into Las Vegas and Seattle. Commissioner Adam Silver has said he hopes the league reaches a decision on expansion by the end of the year, though he does not expect one during the NBA Summer League period.
Multiple ownership groups have publicly or privately expressed interest in bringing an expansion franchise to Las Vegas, while several potential arena sites have emerged on and around the Strip.
Contact David Danzis at ddanzis@reviewjournal.com or 702-383-0378. Follow @AC2Vegas_Danzis on X.
