Oak View Group to build $1bn ‘NBA-ready’ arena in Las Vegas

The Las Vegas Strip (Credit: Getty Images)

Oak View Group, the prominent United States-based venue development, advisory and investment company, has unveiled plans to construct a $1bn (€900m), 20,000-seat arena in Las Vegas, Nevada, which could potentially be the home of a National Basketball Association team in the future.

The multipurpose arena will be part of a $3bn mixed-use sports and entertainment district located just south of the Las Vegas Strip, which would also include a casino and hotel, and further signals the rapid maturation and growth of Las Vegas as a major US sports market. Helping fuel the plans are Oak View Group's recent acquisition of 25 acres of land near Harry Reid International Airport, and a groundbreaking is targeted for 2023.

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