Vici Properties President & COO John Payne has made the first public comments regarding the real estate investment trust’s partnership with Caesars Entertainment to construct a potential National Basketball Association (NBA) area in Las Vegas.
“I think everyone has seen in the news that the NBA is looking to put another team into Las Vegas. There are many people bidding on that team,” Payne said on a Q2 earnings call.
“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 Las Vegas, to house the arena that could be built for the new NBA team.”
McBurney currently serves as CCO and Regional President for Caesars’ Las Vegas operations, with the potential arena site set to be located behind the Paris, Horseshoe and Planet Hollywood properties.
Caesars has still yet to comment on the development, which faces competition from the Las Vegas Diamond Arena project and a potential bid from Vegas Golden Knights Owner Bill Foley, who currently manages the T-Mobile Arena venue in Las Vegas.
The NBA originally held a formal vote in March to begin exploring the possibility of debuting an expansion franchise in Las Vegas or Seattle, with ownership bids expected to exceed $7-8bn.
Payne continued: “The resilience of Las Vegas continues to be reinforced by the ongoing diversification of demand.
“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.”
Vici released its financial report for Q2 and the first-half of 2026 on July 29, as net revenue and adjusted EBITDA managed to rise during both periods despite witnessing decreases in the investment firm’s net income.
Vici reported a net income decrease of 39.1% to $526.5m, perhaps due to the firm’s operating expenses rising from a $93.1m return for the second quarter of 2025 to a $315.6m cost during Q2 2026.
Caesars Sportsbook began operating the Westgate SuperBook on July 28, officially moving the venue’s wagering technology, race and sportsbook operations onto the Caesars platform
