Las Vegas edges closer in NBA expansion race as Wynn throws support behind franchise bid

Las Vegas has emerged as one of the leading contenders in the race for an NBA expansion team, with Seattle seen as the other frontrunner. The likelihood is growing that both cities could ultimately be awarded franchises as the league considers broadening its footprint.

The push fits into a wider sporting transformation for Sin City, which has already hosted a Formula 1 grand prix and become home to the NHL's Golden Knights. Golden Knights owner Bill Foley is widely viewed as a leading candidate to lead an ownership group, thanks to his substantial financial backing and the success he has delivered in the hockey market.

The cost of entry, however, is significant. Securing an NBA license is expected to run somewhere between $7 billion and $10 billion. Success on the court may also hinge on star power, a dynamic illustrated by Inter Miami's surge in popularity following Lionel Messi's arrival. The NBA is packed with similar marquee talent, and having a superstar based in Las Vegas could make the venture a commercial winner.

Industry impact

For the gambling sector, an NBA team would likely provide a major boost to Las Vegas footfall and add fresh appeal to the city's entertainment offering. Operators would almost certainly explore commercial tie-ups with the franchise, and at least one major casino executive has already voiced enthusiasm.

Wynn Resorts Chief Executive Officer Craig Billings told investors: "We would love to see an NBA franchise in Las Vegas." He added that the company would be very supportive of whoever ultimately owns the team, should the expansion move forward.

There are some potential risks, notably around cannibalisation of consumer spending. During the World Cup in Macau, VIP players were seen drifting away from tables to watch matches, which was reflected in revenue. Still, with NBA and NHL seasons running nearly in parallel, adding a second major sports tenant could help revive a Las Vegas Strip that has struggled with footfall in recent years. The combination of basketball's glamour and Vegas's existing entertainment ecosystem may prove a natural fit.