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Vici Properties teases possible NBA arena on Las Vegas land
On its second-quarter 2026 earnings call, Vici said an arena complex could align with its experiential REIT strategy as revenue and AFFO rose year over year.
Vici Properties executives, speaking on a second-quarter earnings call, indicated the company is open to building an NBA arena complex on land it controls in Las Vegas, using undeveloped acres behind casinos including Planet Hollywood, Paris and Horseshoe. The comments came as the NBA began formally reviewing the possibility of adding a Las Vegas franchise toward the start of 2026, though nothing is finalized.
Vici, which owns a portfolio that includes the Venetian, Mandalay Bay, MGM Grand and Caesars Palace, framed the potential project as part of its broader focus on “experiential real estate” and entertainment-led destinations. The company also pointed to the growth of pro sports in Las Vegas, where teams across the NBA, NFL, NHL and WNBA have expanded over the past decade, alongside the relocation of Major League Baseball’s Oakland A’s to Las Vegas.
The report also linked the idea to the current strength of experiential retail, citing market research firm Metatech Insights that the global experiential retail market is expected to more than quadruple from $132 billion at the start of 2026. Vici’s executives did not discuss any detailed development steps on the call, but the arena concept would fit its business model if pursued.
Vici’s latest results reflected the environment it is capitalizing on. The company reported $1.1 billion in second-quarter 2026 revenue, up 5.7% year over year, and $2.07 billion in revenue for the first six months of 2026 versus $1.99 billion in the same period of 2025, while adjusted funds from operations increased 7.8% year over year, according to Commercial Observer.