According to a report from KNPR, MGM Resorts CEO Jim Murren is “actively trying” to have a NBA team relocate to the gambling capital of America. Any team would presumably play on the T-Mobile Arena, which MGM developed.
The news comes as rival Nevada casino operator Las Vegas Sands Corp. is ramping up its plans to construct a $1.9 billion NFL stadium at the south end of the Strip. The NFL still must vote on whether the Oakland Raiders can relocate.
A controversial $750 million in public funding was approved for the stadium.
While the NFL still opposes legalized gambling, the NBA is an advocate for it.
A NHL expansion team has already been approved for Las Vegas. The team will begin playing in Sin City in October 2017. Reports said thon the team will play at T-Mobile Arena.
NBA Commissioner Emeritus David Stern was recently at the annual Global Gaming Expo (G2E) in Las Vegas to discuss the desire for federal sports betting reform.
According to the yankee Gaming Association, the price of the yankee sports betting market is $150 billion a year, with not up to $5 billion of that wagered legally in Nevada.
About $1.25 billion was bet on basketball last year in Nevada. That was an all-time high, in keeping with data compiled by the University of Nevada Las Vegas.
The other totals were football ($1.7 billion) and baseball ($900 million). Hockey is included within the “other” category, which had wagers in 2015 of about $330 million.
Around $54 million in parlay bets were made last year.
Basketball, baseball and the “other” category all saw record drop in 2015. Football was down slightly from a record high of $1.75 billion in 2014.
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