A real estate firm that owns much of the Las Vegas Strip is looking to be the landlord for the city’s first NBA team.
- VICI Properties has 50 acres behind three Caesars properties that could be used for an arena.
- Numerous bidders are looking to house the city’s first NBA team.
- The league has not yet finalized expansion plans.
After months of speculation on where an expansion franchise could play in Las Vegas, VICI Properties President and CEO John Payne said during an earnings call on Thursday that the trust is partnering with an iconic Vegas brand Caesars (owner and operator of Caesars Sportsbook) to bid for an arena close to the Strip.
“There are many people bidding on that team,” Payne said. “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 (Caesars) Las Vegas, to house the arena that could be built for the new NBA team.”
Payne’s statements are the first public comments from any interested bidders on an NBA arena in Las Vegas.
Getting closer to reality
The Las Vegas Review-Journal reported in June that the undeveloped land behind those three casino properties was one of many sites being considered for an NBA arena. There was also a report of a potential MLS stadium on that land.
It’s currently part of Formula One’s Las Vegas Grand Prix that runs through the city annually, and the parcel of land was considered for an MLB stadium when Las Vegas was attempting to lure the Montreal Expos there more than 20 years ago.
Talks of the NBA expanding became more official in July 2025 when the league’s board of governors formally initiated an evaluation process. In March, the NBA voted to explore Las Vegas and Seattle, with a second vote to determine locations likely coming later this year.
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Build it, and they will come
Las Vegas is still likely a couple of years away from getting an NBA team, but the city looks likely to add to its professional sports presence.
After decades of leagues staying away from the gambling Mecca and the longstanding Nevada sports betting scene, Vegas now has an NFL, NHL, and WNBA team, and an MLB stadium is being built at the old site of the Tropicana on the Strip.
Payne said this growth, along with the hotels and casinos, is helping create “unique events that only can be done in Las Vegas,” making the market a continued development center for VICI.
“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 and now the prospect of an NBA franchise stands to extend the trajectory further,” Payne said. “Every new demand driver makes Las Vegas that much harder to bet against.”
VICI owns the land and buildings, but not the gaming operations, of major Vegas hotel-casino companies like Caesars and MGM Resorts.
