Since completing our recent assignment in the Las Vegas market, the pace and scale of investment across the region have continued to accelerate. Major sports facilities, entertainment districts, cultural institutions, and transportation infrastructure projects are advancing, reinforcing Las Vegas’s position as one of the world’s premier destinations for tourism, conventions, and live entertainment.
Las Vegas is preparing to add another major professional sports franchise. A new $1.75 billion Major League Baseball stadium is planned on the site of the former Tropicana Las Vegas, with an anticipated opening in spring 2028. The 30,000-seat ballpark will serve as the future home of the Las Vegas Athletics and mark the city’s fourth top-tier professional sports franchise, joining the Raiders (NFL), Golden Knights (NHL), and Aces (WNBA).
A massive sports and entertainment district is planned along the Las Vegas Strip. Approved by the Clark County Commission in late 2024, a multi-billion-dollar development is proposed for the former Wet ‘n Wild waterpark site. The project includes an NBA-caliber arena, a 2,605-room resort hotel, and 120,000 square feet of convention space. While Las Vegas remains a leading candidate for a future NBA expansion team, no official decision had been announced as of year-end 2025.
Significant reinvestment continues at the Las Vegas Convention Center. Phase 3 of a broader renovation program is now underway, representing approximately $600 million in improvements. Planned upgrades include modernized exhibit halls, a new east entrance, and expanded and reconfigured second-floor boardroom facilities, further enhancing the Convention Center’s competitiveness in the national meetings and conventions market.
AREA15 is expanding its role as a next-generation entertainment destination. In mid-2025, the complex opened a new 10-acre expansion north of its original 20-acre campus, creating capacity for additional dining, retail, and immersive experiences. The expansion is anchored by Universal Horror Unleashed, a year-round horror attraction featuring four haunted houses and more than 110,000 square feet of themed environments, alongside new attractions such as a 150-foot Boeing 747 installation, the Museum of Ice Cream, Interstellar Arc by Felix & Paul Studios, The Escape Game, and iFLY Indoor Skydiving.
Cultural investments are reshaping downtown Las Vegas. The Neon Museum is relocating to a larger site at Charleston Boulevard and Casino Center Boulevard within the Las Vegas Arts District. The $45 million project will triple the museum’s size and is scheduled for completion by the end of 2027.
A new major art institution is advancing in Symphony Park. Plans for the Las Vegas Museum of Art are moving forward with a projected $150 million investment supported by both public and private funding. The three-story, 90,000-square-foot museum is expected to open in 2028 and will further anchor Symphony Park as a cultural hub.
New destination-scale attractions are being explored for the Las Vegas market. RetroEscapes, billed as the world’s first nostalgia-themed park, is in early planning and would feature five immersive zones representing decades from the 1950s through the 1990s. While the concept is designed for multi-generational appeal, details regarding location and timing have not yet been finalized.
Transportation infrastructure improvements are poised to expand regional visitation. Brightline West, a privately developed high-speed rail line, is in the early stages of construction and will eventually connect greater Los Angeles with Las Vegas. The line will terminate near Las Vegas Boulevard South and Blue Diamond Road and is expected to be completed within the next three to four years, significantly enhancing access to the market.
New sports and family entertainment facilities are expanding the region’s tournament capacity. A $70 million, 160,000-square-foot indoor sports and family entertainment complex is under construction in Henderson. Scheduled to open in fall 2026, the two-story facility will feature indoor courts, hybrid turf fields, food and beverage offerings, party rooms, and family entertainment attractions, enabling the area to host large-scale youth and amateur sporting events that draw participants and spectators from across the region.