A proposed $3 billion hotel, gaming and entertainment district that would include a 20,000-seat sports and entertainment arena for an NBA team has raised questions about market saturation.
Las Vegas already has four arenas with similar attendance capacities, including the 20,000-seat T-Mobile Arena that sits in the shadow of several Strip mega-resorts and whose primary tenant is the NHL’s Vegas Golden Knights.
The March 30 announcement that Los Angeles-based Oak View Group was planning to build a privately financed complex on 25 acres near the intersection of Las Vegas Boulevard and Blue Diamond Road – roughly 3 miles south of Mandalay Bay, which is considered the Strip’s southern border – ran into some skepticism.