Digital Wager Wire highlights the most significant events affecting the domestic and international sports betting and gaming industries each week throughout the year.
Is Las Vegas the Next NBA Destination?
The rumor mill is not only swirling about whether Las Vegas will be chosen as the next destination for an NBA expansion franchise, but also, which ownership group will be chosen and what piece of prime real estate will be selected to build its home.
Some of the ownership groups vying for a Las Vegas NBA franchise are as follows:
- The Las Vegas Jacks is being led by former Phoenix Suns and Arizona Diamondbacks owner Jerry Colangelo, along with former NBA sharpshooter Vinnie Del Negro and ESPN broadcaster Jay Williams.
- The MAGI is represented by former LA Lakers and Hall of Famer Earvin “Magic” Johnson, as well as sports and entertainment veteran Andre Cleveland and Las Vegas businessman Mike Bellon.
- Bill Foley is a name many won’t recognize, but most would recognize the NHL team he owns, the Vegas Golden Knights. Foley has stated he would add hundreds of millions of dollars in upgrades to the 10-year-old T-Mobile Arena, which houses his hockey team, to accommodate a basketball team as well.
- Bob Iger, the former CEO of Walt Disney, and his partner, billionaire venture capitalist Joshua Kushner, have also expressed interest in owning an NBA franchise in Sin City.
Possible Vegas Arena Locations
If a franchise comes to Glitter Gulch, several locations in and around Las Vegas have been discussed, including:
Caesars Arena – No, the iconic Las Vegas gaming icon does not have a basketball arena already built, but it does co-own 50 acres of prime real estate in conjunction with its landlord for virtually all of its facilities, VICI Properties. The empty property is located on the Las Vegas Strip and is used as part of Formula One’s Las Vegas Grand Prix road map.
VICI Properties President and CEO John Payne said during an earnings call last week, “There are many people bidding on that team. 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.”
The T-Mobile Arena will likely be the home of the Las Vegas expansion franchise should Vegas Golden Knights owner Bill Foley be the successful bidder. As stated above, he is an interested party who has expressed his desire to put two teams under one roof.
Even Las Vegas Mayor Shelley Berkley has gotten into the act, pitching 20 acres of land next to the World Market Center directly to the NBA Commissioner Adam Silver himself.
“It was an introductory call, and the mayor looks forward to future conversations as the NBA’s expansion process continues,” city spokesman Jace Radke said.
And then there is the other side of town, being proposed by Clark County Commissioner Tick Segerblom, who said, “You look at where it belongs, and it belongs on the North Strip. People from downtown Las Vegas could come; we have the space, we have the new hotels, it just makes a lot of sense.”
