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The land in question is several distinct plots totaling roughly 40 acres, although the trio of resorts also have buildable land abutting the parcels. One of the leading contenders for a future Las Vegas NBA arena moved beyond speculation Thursday, with VICI Properties executives saying they are working with Caesars Entertainment on plans for a venue behind three Strip resorts. Speaking during the company’s second-quarter earnings call, VICI President and Chief Operating Officer John Payne said the real estate investment trust is working with Caesars on plans for an arena behind Paris, Horseshoe and Planet Hollywood hotel-casinos. “I think everyone has seen in the news that the NBA is looking to put another team into Las Vegas,” said Payne. “There are many people bidding on that team. Payne’s comments mark the first public acknowledgment by either party that a plan is underway for a potential NBA arena on the site. The land has long been viewed as one of the Strip’s largest undeveloped parcels.
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Caesars Entertainment’s Las Vegas operations generated lower revenue and income during the three months ending June 30, according to public filings.
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