Las Vegas eyes 2 new arenas in NBA expansion bid

Las Vegas eyes an NBA expansion with two ambitious arena proposals. Learn about the progress, challenges, and more. 

Las Vegas’s entertainment landscape could dramatically expand as two separate developers pursue plans for 20,000-seat arenas. Each hopes to attract an NBA franchise to the desert metropolis. These proposed venues would fill the last remaining gap in the City’s professional sports portfolio, though both projects face significant hurdles before breaking ground.

According to the Nevadan Independent, the competition for a potential NBA team has intensified, with three major players now in the mix: the two new arena proposals and T-Mobile Arena’s owners, who are planning substantial upgrades to their existing venue.

Current arena proposals and their challenges

Oak View Group, led by sports executive Tim Leiweke, has secured financing for their arena project but continues searching for a suitable location. The development, first announced three years ago, envisions a $3 billion complex including hotel and entertainment facilities. Marc Badain, the project’s president, stated, “We are focused, we’re funded and we’ll have news soon.”

The second proposal comes from real estate developer LVXP, which has secured a prime location between the Sahara Hotel and Fontainebleau Las Vegas. Their ambitious plan includes three high-rise towers with over 2,600 hotel rooms and condominiums alongside the arena. However, financing details remain undisclosed.

T-Mobile Arena enters the competition

Adding to the mix, Golden Knights owner Bill Foley has proposed a $300 million renovation of T-Mobile Arena to attract an NBA team. “T-Mobile Arena is the perfect place for an NBA team to play,” Foley told Vegas PBS’s Nevada Week. The renovation would include additional seating, hospitality areas, and suites.

Market viability and timing considerations

Las Vegas Convention and Visitors Authority CEO Steve Hill believes the market could support new venues but warned against simultaneous construction: “Having new venues is generally a good thing for Las Vegas. However, the idea that two would be built at the same time doesn’t seem realistic to me.”

Gaming industry consultant Brendan Bussmann supports the notion of additional arena space, noting T-Mobile Arena’s high utilization rate. However, he emphasized the importance of strategic planning and proper spacing of new developments.

The NBA’s position remains cautious, with Commissioner Adam Silver indicating that expansion discussions will follow new collective bargaining and television agreements. As Las Vegas waits for the NBA’s next move, the race to build the city’s next major arena continues to evolve.

This story was generated in part by AI and edited by The Nevadan staff.

This article first appeared on Good Info News Wire and is republished here under a Creative Commons license.