Caesars and VICI Take a Shot at Developing Vegas NBA Arena

The race to build an NBA arena in Las Vegas gained a major new entrant this week, as VICI confirmed it is working with Caesars Entertainment on plans to develop 50 acres of land behind Paris Las Vegas, Horseshoe Las Vegas, and Planet Hollywood.

The proposal was revealed during VICI’s second-quarter earnings call Thursday (July 30).

Home Court Advantage

“There are many people bidding on that team,” VICI president and chief operating officer John Payne said. “We own, in conjunction with our partner Caesars… 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 the executive who oversees Caesars’ eight Strip resorts. VICI, meanwhile, is the real estate investment trust created as part of Caesars’ 2017 bankruptcy restructuring, which effectively turned the casino giant into a tenant on most of the real estate it once owned.

The site being considered for the arena, however, remains jointly owned by both companies, giving them control of one of the most significant undeveloped parcels left on the Strip.

History of Unfulfilled Plans

One of the largest remaining vacant tracts in the resort corridor, the property has attracted development interest for decades thanks to its central location and size. Nearly 20 years ago, it was floated as a potential ballpark site while the Montreal Expos briefly explored relocation.

The land’s appeal as an arena site is obvious. It sits within walking distance of several major resorts and offers ample room for retail, dining and entertainment development that could accompany a major sports venue.

Since 2023, part of the property has been occupied by the BattleBots Arena, a 1,000-to-1,200-seat venue built for the live robotic combat show based on the television series BattleBots.

The Caesars-VICI proposal arrives as multiple groups jockey for position ahead of potential NBA expansion. Arena concepts have surfaced across the Las Vegas Valley in recent months, reflecting growing confidence that the league may be nearing a decision on adding new franchises.

Earlier this year, the NBA formally began exploring expansion opportunities in Las Vegas and Seattle. Commissioner Adam Silver has said the league hopes to make progress on expansion plans before the end of the year, keeping Las Vegas firmly in the spotlight as a leading candidate for a new team.

“There’s been the massive growth in professional sports with the addition of the Golden Knights, the Raiders, F1, the Aces, and the upcoming relocation of the Oakland A’s,” Payne said. “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.”