A multibillion-dollar development headed for Las Vegas could be home to a future NBA team if developer LVXP plays its cards right.
The firm said Monday it plans to turn 27 acres on the Vegas Strip into an experiential mixed-use development featuring a tech-driven entertainment and sports arena, among other amenities. The news comes on the heels of NBA Commissioner Adam Silver shortlisting Sin City as one of the top metros under consideration for expansion franchises.
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The project is expected to create thousands of jobs and be an economic boon for Las Vegas, according to the news release.
“This is a well-conceived project that has the potential to transform a valuable undeveloped land parcel into a highly productive destination that contributes meaningful long-term value to the community and visitors alike,” Clark County Commission Chairman Tick Segerblom said in a statement.
LVXP’s planned development at 2601 S. Las Vegas Blvd. would also feature a large retail plaza, convention space, a casino and several luxury hotels and residences, according to the release.
It remains unclear when the NBA plans to expand, but LVXP’s project could position Vegas to continue its winning streak of nabbing pro sports teams.
The Oakland Athletics announced last spring they would move to Vegas and build a $1.5B stadium west of the Strip. The NFL's Raiders left Oakland in favor of Sin City in 2020. Three years earlier, the NHL expanded to Vegas and launched its Golden Knights franchise.
Construction on the LVXP project will be led by Nick Tomasino, who helped build the MSG Sphere during his tenure at Madison Square Garden Entertainment. Construction is expected to begin in the first quarter of 2025, according to LVXP.
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