Casino giant, Strip landlord partnering for NBA arena proposal
VICI Properties and Caesars Entertainment are collaborating on plans for a potential NBA arena behind three Las Vegas Strip resorts.Summary
VICI Properties and Caesars Entertainment have confirmed they are developing a proposal for a new NBA arena located behind the Paris, Horseshoe, and Planet Hollywood resorts. VICI President and COO John Payne announced the collaboration during an earnings call, noting that the project involves approximately 40 to 50 acres of land behind the Caesars-owned properties.
The site is one of the largest undeveloped parcels on the Las Vegas Strip and has previously been considered for other major sports venues, including a Major League Baseball stadium. Currently, the land is used for events like the Las Vegas Grand Prix and hosts the BattleBots Arena.
This development comes as the NBA explores expansion options for Las Vegas and Seattle. Commissioner Adam Silver aims to reach a decision on expansion by the end of the year, and the potential for an NBA franchise is seen as a significant driver for the continued economic diversification of Las Vegas.
(Source：Las-vegas Review Journal)