NBA Plans Expansion Team in Las Vegas by 2028-29
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 43 minutes ago
0mins
Source: seekingalpha
- Expansion Plans: The NBA is targeting the 2028-29 season to add two expansion teams, with one in Las Vegas, which would significantly enhance the league's global presence if approved by owners.
- Investor Background: Former Disney CEO Bob Iger and Joshua Kushner are exploring a bid for Las Vegas through a Kushner-led investment platform, having hired bankers and seeking a majority ownership stake, indicating strong market confidence.
- Market Potential: NHL Las Vegas Golden Knights owner Bill Foley has publicly announced his bid and hired Morgan Stanley as his financial adviser, emphasizing Las Vegas's status as a premier sports city with T-Mobile Arena ready as an NBA venue.
- Economic Impact: The addition of an NBA team is seen as a positive catalyst for major Las Vegas Strip resort operators like MGM Resorts and Caesars Entertainment, expected to further boost tourism and economic growth in the region.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy MGM?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on MGM
Wall Street analysts forecast MGM stock price to fall
14 Analyst Rating
5 Buy
7 Hold
2 Sell
Hold
Current: 49.190
Low
29.00
Averages
40.31
High
56.00
Current: 49.190
Low
29.00
Averages
40.31
High
56.00
About MGM
MGM Resorts International is a global gaming and entertainment company with national and international destinations featuring hotels and casinos, meetings and conference spaces, incredible live and theatrical entertainment experiences, and a range of restaurants, nightlife and retail offerings. Its segment includes Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. Las Vegas Strip Resorts consists of casino resorts: Aria, Bellagio, The Cosmopolitan of Las Vegas, MGM Grand Las Vegas, Mandalay Bay, Luxor, New York-New York, Excalibur, and Park MGM. Regional Operations consists of various casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York, and others. MGM Digital is its online gaming portfolio which consists of LeoVegas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
NBA Plans Expansion Team in Las Vegas by 2028-29
- Expansion Plans: The NBA is targeting the 2028-29 season to add two expansion teams, with one in Las Vegas, which would significantly enhance the league's global presence if approved by owners.
- Investor Background: Former Disney CEO Bob Iger and Joshua Kushner are exploring a bid for Las Vegas through a Kushner-led investment platform, having hired bankers and seeking a majority ownership stake, indicating strong market confidence.
- Market Potential: NHL Las Vegas Golden Knights owner Bill Foley has publicly announced his bid and hired Morgan Stanley as his financial adviser, emphasizing Las Vegas's status as a premier sports city with T-Mobile Arena ready as an NBA venue.
- Economic Impact: The addition of an NBA team is seen as a positive catalyst for major Las Vegas Strip resort operators like MGM Resorts and Caesars Entertainment, expected to further boost tourism and economic growth in the region.
See More
MGM Resorts to Release Q2 2026 Financial Results
- Earnings Release Schedule: MGM Resorts plans to release its Q2 2026 financial results after market close on July 29, 2026, which is expected to significantly impact investor sentiment.
- Conference Call Details: The company will host a conference call at 5:00 p.m. Eastern Time on the same day to discuss the results and engage in a Q&A session, enhancing investor relations.
- Replay Availability: A replay of the conference call will be accessible until August 5, 2026, ensuring that investors who cannot attend live can still obtain key information, thereby improving transparency.
- Global Business Overview: MGM Resorts operates 30 unique hotel and gaming destinations worldwide, focusing on sustainable development strategies and market expansion to enhance brand influence and market share.
See More
MGM Resorts to Release Q2 2026 Financial Results
- Earnings Release Schedule: MGM Resorts will release its Q2 2026 financial results after market close on July 29, 2026, and will host a conference call at 5:00 PM ET that day to discuss the results and conduct a Q&A session, which is expected to attract investor interest.
- Conference Call Access Information: Investors can participate via MGM's Investor Relations website or by calling 1-888-317-6003 for domestic and 1-412-317-6061 for international access, with access code 3854404, demonstrating the company's commitment to transparency and investor communication.
- Replay Arrangement: The conference call replay will be available until August 5, 2026, and can be accessed by dialing 1-855-669-9658 or 1-412-317-0088 with access code 6498752, further enhancing the accessibility of information for stakeholders.
- Company Background: MGM Resorts is a leading global gaming and entertainment company with 30 unique hotel and gaming destinations, committed to creating immersive experiences through its Las Vegas-inspired brands, while actively pursuing expansion in Japan, showcasing its ambitious global strategic positioning.
See More
MGM and BetMGM Renew Multi-Year Partnerships with MLB
- Partnership Continuation: MGM Resorts and BetMGM have renewed multi-year agreements with Major League Baseball (MLB), extending their relationship that began in 2018, ensuring MGM remains MLB's exclusive integrated resort and casino partner, thereby enhancing brand visibility and market influence.
- Fan Engagement Support: Under the new agreements, MGM will continue to support fan-focused events, including the MLB Awards Week in Las Vegas, aimed at increasing fan engagement and commercializing league-related activities.
- Digital Platform Promotion: BetMGM will promote its sports betting products across MLB's media platforms, including MLB Network and MLB.com, further expanding its market reach in the U.S. and Canada, enhancing brand recognition and user engagement.
- Responsible Gaming Commitment: Both parties reaffirm their focus on responsible gaming, with BetMGM providing relevant tools and enforcing policies to protect the integrity of sporting competitions, ensuring industry credibility while expanding commercial partnerships.
See More
MGM and MLB Renew Partnership Agreements
- Partnership Renewal: MGM Resorts and BetMGM announced the renewal of their multi-year partnership with Major League Baseball (MLB), continuing their role as official gaming partners since 2018, which is expected to enhance brand visibility and customer engagement significantly.
- Marketing Initiatives: Under the renewed agreements, BetMGM will promote its brand and sports wagering offerings across MLB platforms, including MLB Network and MLB.com, which is anticipated to expand its market share in the U.S. and Canada while enhancing user experience.
- Innovation and Responsibility: BetMGM emphasizes that the partnership will drive innovation and responsible gaming, introducing the GameSense program to help customers engage in gambling responsibly, which is expected to bolster customer trust and enhance brand reputation.
- Global Expansion Strategy: MGM Resorts plans to expand its integrated resort business into new markets like Japan, and this renewal not only solidifies its position in North America but also lays the groundwork for future international expansion, reflecting its strategic vision for globalization.
See More
MGM and MLB Renew Partnership Agreement
- Partnership Continuation: MGM Resorts and BetMGM announced the renewal of their multi-year partnership with Major League Baseball (MLB), continuing as MLB's official gaming partner, which enhances their influence in the sports betting sector.
- Marketing Initiatives: Under the renewed agreement, BetMGM will continue to promote its brand and sports wagering services across MLB platforms, which is expected to further expand its market share in the U.S. and Canada, increasing user engagement.
- Enhanced Experience: MGM Resorts will continue hosting events like MLB Awards Week in Las Vegas, aiming to attract more fans by providing unique customer experiences that enhance brand loyalty.
- Responsible Gaming Commitment: MGM and BetMGM emphasize the importance of responsible gaming, launching the GameSense program to ensure customers can enjoy gaming entertainment while receiving a safe and responsible gaming experience.
See More
NBA Plans Expansion Team in Las Vegas by 2028-29
- Expansion Plans: The NBA is targeting the 2028-29 season to add two expansion teams, with one in Las Vegas, which would significantly enhance the league's global presence if approved by owners.
- Investor Background: Former Disney CEO Bob Iger and Joshua Kushner are exploring a bid for Las Vegas through a Kushner-led investment platform, having hired bankers and seeking a majority ownership stake, indicating strong market confidence.
- Market Potential: NHL Las Vegas Golden Knights owner Bill Foley has publicly announced his bid and hired Morgan Stanley as his financial adviser, emphasizing Las Vegas's status as a premier sports city with T-Mobile Arena ready as an NBA venue.
- Economic Impact: The addition of an NBA team is seen as a positive catalyst for major Las Vegas Strip resort operators like MGM Resorts and Caesars Entertainment, expected to further boost tourism and economic growth in the region.
See More
MGM Resorts to Release Q2 2026 Financial Results
- Earnings Release Schedule: MGM Resorts plans to release its Q2 2026 financial results after market close on July 29, 2026, which is expected to significantly impact investor sentiment.
- Conference Call Details: The company will host a conference call at 5:00 p.m. Eastern Time on the same day to discuss the results and engage in a Q&A session, enhancing investor relations.
- Replay Availability: A replay of the conference call will be accessible until August 5, 2026, ensuring that investors who cannot attend live can still obtain key information, thereby improving transparency.
- Global Business Overview: MGM Resorts operates 30 unique hotel and gaming destinations worldwide, focusing on sustainable development strategies and market expansion to enhance brand influence and market share.
See More
MGM Resorts to Release Q2 2026 Financial Results
- Earnings Release Schedule: MGM Resorts will release its Q2 2026 financial results after market close on July 29, 2026, and will host a conference call at 5:00 PM ET that day to discuss the results and conduct a Q&A session, which is expected to attract investor interest.
- Conference Call Access Information: Investors can participate via MGM's Investor Relations website or by calling 1-888-317-6003 for domestic and 1-412-317-6061 for international access, with access code 3854404, demonstrating the company's commitment to transparency and investor communication.
- Replay Arrangement: The conference call replay will be available until August 5, 2026, and can be accessed by dialing 1-855-669-9658 or 1-412-317-0088 with access code 6498752, further enhancing the accessibility of information for stakeholders.
- Company Background: MGM Resorts is a leading global gaming and entertainment company with 30 unique hotel and gaming destinations, committed to creating immersive experiences through its Las Vegas-inspired brands, while actively pursuing expansion in Japan, showcasing its ambitious global strategic positioning.
See More
MGM and BetMGM Renew Multi-Year Partnerships with MLB
- Partnership Continuation: MGM Resorts and BetMGM have renewed multi-year agreements with Major League Baseball (MLB), extending their relationship that began in 2018, ensuring MGM remains MLB's exclusive integrated resort and casino partner, thereby enhancing brand visibility and market influence.
- Fan Engagement Support: Under the new agreements, MGM will continue to support fan-focused events, including the MLB Awards Week in Las Vegas, aimed at increasing fan engagement and commercializing league-related activities.
- Digital Platform Promotion: BetMGM will promote its sports betting products across MLB's media platforms, including MLB Network and MLB.com, further expanding its market reach in the U.S. and Canada, enhancing brand recognition and user engagement.
- Responsible Gaming Commitment: Both parties reaffirm their focus on responsible gaming, with BetMGM providing relevant tools and enforcing policies to protect the integrity of sporting competitions, ensuring industry credibility while expanding commercial partnerships.
See More
MGM and MLB Renew Partnership Agreements
- Partnership Renewal: MGM Resorts and BetMGM announced the renewal of their multi-year partnership with Major League Baseball (MLB), continuing their role as official gaming partners since 2018, which is expected to enhance brand visibility and customer engagement significantly.
- Marketing Initiatives: Under the renewed agreements, BetMGM will promote its brand and sports wagering offerings across MLB platforms, including MLB Network and MLB.com, which is anticipated to expand its market share in the U.S. and Canada while enhancing user experience.
- Innovation and Responsibility: BetMGM emphasizes that the partnership will drive innovation and responsible gaming, introducing the GameSense program to help customers engage in gambling responsibly, which is expected to bolster customer trust and enhance brand reputation.
- Global Expansion Strategy: MGM Resorts plans to expand its integrated resort business into new markets like Japan, and this renewal not only solidifies its position in North America but also lays the groundwork for future international expansion, reflecting its strategic vision for globalization.
See More
MGM and MLB Renew Partnership Agreement
- Partnership Continuation: MGM Resorts and BetMGM announced the renewal of their multi-year partnership with Major League Baseball (MLB), continuing as MLB's official gaming partner, which enhances their influence in the sports betting sector.
- Marketing Initiatives: Under the renewed agreement, BetMGM will continue to promote its brand and sports wagering services across MLB platforms, which is expected to further expand its market share in the U.S. and Canada, increasing user engagement.
- Enhanced Experience: MGM Resorts will continue hosting events like MLB Awards Week in Las Vegas, aiming to attract more fans by providing unique customer experiences that enhance brand loyalty.
- Responsible Gaming Commitment: MGM and BetMGM emphasize the importance of responsible gaming, launching the GameSense program to ensure customers can enjoy gaming entertainment while receiving a safe and responsible gaming experience.
See More
