VICI Properties announced during its Q2 earnings call it is working alongside Caesars Entertainment on plans to bring about a new arena for the planned Las Vegas National Basketball Association team.
The prospective arena would be located behind the Paris, Horseshoe and Planet Hollywood hotel-casinos. During the call, VICI President and COO John Payne noted VICI and Caesars own roughly 50 acres of land in the area.
Vacant parcels behind the three resorts account for roughly 40 acres. The properties have extra buildable land abutting the vacant parcels. This is one of the largest undeveloped areas on the Strip.
NVBEX has extensively covered the expansion process. Our previous coverage is available on our website.
This is the first time either party has spoken on plans to construct an arena. (Source: Las Vegas Review-Journal)
