he flipped his position for a nice profit and got out before the rebuild decade/s.

worked well once, let’s go for round 2

The Parlays

No, no, no, you’ve stylized it wrong. They’ll be the Las Vegas DRAFTKINGS (USE CODE NBA FOR A FREE $100 OF BETS)

Sacramento - am I joke to you?

I hate how this wouldn’t surprise me

[removed]

DK USNFAF$100OB

The Las Vegas Hangover sounds pretty good honestly.

It kinda feels classic in some way to me

I was hoping they’d tie the name back to ‘The Hogs’ moniker for their O-Line in the 80s. Commanders is just, meh. I also preferred they’d keep the Washington Football Team too over Commanders.

I loved it. Commanders is ass.

Vegas is near Area 51 where they tested a lot of hypersonic jets. Also, Nellis AFB is there. But nah. Make it the Vegas Spades

Las Vegas Hyperloops

The Showgirls

That’s actually pretty good

Hey hey heres a good name!

Speak for yourself 1%’er

The Las Vegas No Longer $10 AYCE Buffets

It is

They are going to be a name nothing to do with Vegas just like the knights

Ok, then how about the Vegas Neutereds

Aces then

That was the entire reason they did it from my understanding, they were interested in the expansion, realized it was basically gonna cost almost as much as the Lakers and figured might as well buy the Lakers.

Yeah, that was my joke…!

Iger not Eisner. Wrong Disney CEO.

Yeah, because of corruption

What person rich enough to buy a team for billions isn’t at this point?

The arena is already built for one thing

Ah ok 👍

I feel like this is a weird balance in Las Vegas, where there’s a lot of top tier talent doing concerts and shows there, but also such a high concentration of venues that can host them in a small geographic area. Add to that most people traveling in for shows vs local attendees.

It’ll be interesting to see for sure.

The other owners

It should be. Everyone there is still living in the past.

Also competing Bids drive up the price….the Seattle Franchise is estimated to go for a bit less, around 8.⁵⁄₉ billon

I’m 29 and have never been to Vegas but fuck it I’ll make an nba game my reason to go

It’s all city with no suburbs because it’s mountain valley and the federal government owns almost all of the surrounding land.

Las Vegas is a small TV market, but the population surrounding the urban core is more similar it large market. For season ticket sales it’s probably easier to draw from population of 2.5 million people all within 30 minutes of the area, than a 4 million population metro, but half of them live in suburbs and hour and half away.

Your mind is going to be blown when you find out there’s other things in the casinos outside of tables and slot machines

pumpkin spice lattes???

Vegas has different out of town dynamics than the rest of the country with current team tickets and attendance.

Many residents don’t actually live there either it’s a second home/air bnb

Bribe money? Do you think all of Vegas is above ground? Lol

Yup, we’ll see if a actual fanbase grows from Vegas but I’d imagine there will be ppl at the games just from tourists who are bored at 6pm and it’s kinda too early to really hit the casinos/clubs etc

It will almost certainly not have the highest prices

Also true

Although the NBA sucks at forming divisional rivalries

NICE

Yea nfls issue is not enough games imo during the week for us, cause a majority of people work weekends. Its all good though we don’t really pay for teams so alot of locals don’t even mind it. Some appreciate the extra income.

Tourists, especially international ones.

it’s something to do. vegas has really done a 180 from being know for gambling only to the best entertainment whether that’s concerts, pro sports, shows, etc. so if youre a fan of the bulls but are in town and the vegas team is playing the nuggets, many people will check it out.

I would say at the very least the stadium will be \(2 billion, likely more. Also pretty confident that that \)12.5 billion for the lakers is the absolute floor for an evaluation, they likely could have sold for upwards of $15 billion but Mark Walter was in a pinch and needed to sell in a hurry.

Overall tourism and entertainment revenue is a sliver of Las Vegas though. The Golden Knights also draw way better than the Kraken I believe.

It’s not about the GDP it’s the potential revenue. Look at the NFL, the raiders generated almost \(900m with a terrible team, the Seahawks had \)650-700m with the best team. It’s part of why the raiders are valued so much higher.

Vegas is a major tourist destination. A lot of people attending Vegas games will be fans of the other team who plan their visit around when their team is playing there. There’s also the gambling part of it that the new stadium will likely have heavily incorporated into the venue.

It’s not just a business, it’s a billionaire trophy thing. Vegas is more of a destination than Seattle, so there’s more interest. Same reason large cities have more than one team despite empty cities being out there. That’s where the billionaires are.

The AwesomeTails

The AmazingKnuckles

Seattle TrailLazers

The GayGiraffes

the NBA ’s execs and sponsors are banking on the premium, high paying tourist and corporate box suite revenues

We’re in a K-shape economy atp

There are a ton of studies that suggest that the money a fan spends at a stadium on their first time of attendance is an order of magnitude higher than a regular fan. If you could somehow make it so you had regular attendance from an entirely transient population, your earnings per seat are waaaaay higher.

That said, I think it’s probably because a lot of billionaires have a thing for Vegas and the most interested Seattle parties are going to be Seattle people, which is a relatively small, albeit disproportionately rich and sports obsessive

It’s closer to the rest of the US and it’s still a significantly more trafficked area than Seattle

Tourism and sponsorship will probably be more valuable

Tourists. Even though the tourists market is declining in Vegas.

The vegas strip is an expensive city to begin with, and the volume of people walking through it on any given day means they can charge whatever they want.

Because every Vegas home game is going to sell out regardless of if they lose every single game.

Vegas has pretty firmly rejected prediction markets

If a Vegas group wins that doesn’t want to use the existing arena, then Seattle fans might have to wait until a new arena is built. 2028 might end up being 2030 and that’d suck

But corporate sponsors want ad placements and box suites in Vegas more than they want them in Seattle.

Damn you are correct. I had no memory of that

They should play in the sphere 🤷‍♀️

New arena seems crazy

I think they would just refit tmobile slowly

Jesus Christ, what an absolute waste of money.

Collars too big! No new slants.

Vegas is good this year (at least 3 games in)

Saying a city “doesn’t need or want” people making under \(100k is wild. Who is going to pour the \)25 cocktails for those 50 rich people? When a city prices out its entire workforce, the luxury ecosystem suffocates. The math doesn’t work that way for an entire city ecosystem.

For instance, look at the Hamptons, it became so exclusive that it broke its own economy. They have a massive labor crisis because service workers, emergency personnel, and teachers literally cannot afford to live within a two-hour radius. Now that’s only in the summer, imagine creating an entire city around that same premise year round?

You can’t run a world-class hospitality city without the people who actually provide the hospitality.

What trends? Miami is growing economically and by population, they had a dip in 2020 due to covid but have already rebounded.

Vegas isn’t desperate for sports, the owners are desperate for Vegas

Vegas always cared about sports, owners were just concerned about conflict of interest perception in the only state with legalized gambling. Obviously not a concern in a world where Draft Kings sponsors every sports broadcast and active stars promote prediction markets lmao.

You don’t really know what you’re talking about. The reason Vegas never had sports teams was because the leagues didn’t want the association with gambling. Anyone with eyes can see that the sports leagues don’t care about that anymore

Of that 7.5% how many of those people were actually just families that got priced out of a cheap vacation. I went for summer league and the strip was PACKED. My company and many other companies still do seminars in Vegas. It’s gotten less affordable for the average joe but it’s still a playground for a lot of people

I have to imagine that any ownership group willing to pay 13 billion dollars for a Las Vegas franchise has spent millions studying the viability of the franchise in depth. Or maybe Reddit commenters can google for 10 seconds and be smarter than them. Who knows though.

7.5% and they tell you right in the article it’s because the Canadian visitors have dropped due to the political climate

The climate will change with the next administration and the Canadian visitors will return

And more and more people are moving there. Its changing overall

Water is solved. Its just a matter of cost.

Desert cities like Vegas and Phoenix get their water from large snow-capped mountain ranges, they’ll be fine.

Overall numbers are down but when I’ve gone the last few years it’s still pretty packed. Fewer total people are visiting but those who are visiting are spending more. Like the rest of the economy Vegas is catering to the affluent of which there are still many

This is super false. The three years after COVID it grew 6 percent in population and 46% in gdp which is double the US rate of 23%.

Tourist numbers haven’t gone back to pre-covid levels but if you believe the Vegas tourism board, overall spend from tourism has gone up 20% from pre-Covid levels

You’re both right. Tourists are visiting less and the population is growing. The city is pivoting to pro sports as an investment route.

Cities decline and have resurgences all the time. Highly doubt that means “Vegas is dead” forever.

It’s just that gambling both irl and online is so widespread now people no longer have to travel to do it. The Vegas area in general is still growing.

Vegas in its biggest decline in decades still gets more tourists than all but 4 NBA cities (NY, LA, Chicago, Orlando)

Miami in the 80s and 90s

What is it with all the talking out of your ass going on these days? Does no one feel embarrassed to be easily verifiable wrong? Miami has had sustained significant growth for the last 15 years.

I would say SF is booming as well. Money continues to be poured into them. No, it’s not sustainable. Yes, they’re increasingly unlivable for anyone but the wealthy. They will eventually have major crises. Just not yet lol

I don’t like this timeline

I totally agree, but I’d assume there is some financial reasoning to it. I’m totally guessing, but I’d assume Vegas and Nevada would be more appealing to the ultra wealthy for things like taxes, employee wages, regulations, availability of public funding when compared to Seattle and Washington. I’d also assume anyone bidding would probably have dug into how things went for the nhl from a business sense since their two most recent expansions were Vegas and Seattle. I think the Vegas team might also get to build their own arena since the hockey one wasn’t built to handle nba games, Seattle’s I think will share with the kraken since that building was designed to do both

I think the idea is while seattle may be richer in general, they can probably charge way more in vegas for everything. Like there may end up being a hotel/casino thats branded or connected to the team through the stadium location. It will probably print money. And if I had to guess I would think vegas tourist probably spend a ridiculous amount more than the avg seattle resident would.

The new Vegas arena is going to be the real money maker here. Think of all the events that thing is going to host when it opens. The buzz around the potential Sonics owners is more muted bc Seattle already has an NBA ready arena that is owned by the bidders who are in the drivers seat to buy. Basically, Sonics situation is a lot more settled.

Because if Seattle goes first the price of Vegas immediately goes down by a minimum of 2 billion. This way they can try to force a Seattle group to inflate their bid by an extra billion.

Vegas has no fans of now but for a rich owner it’s an easy flight to and from anywhere. Seattle sort of sucks geography wise. Think it will work out decently in Vegas. I thought the hockey franchise would be a depressing failure but the fans showed up.

Because my hypothesis is that the Lakers could have sold for more if they weren’t sold under duress. I understand it’s not provable but I think it’s plenty reasonable.

That’s less of a gain than he would’ve seen if he had put 10 billion into the S&P 500 for the same period of time.

goddamn. 3 billion is nasty wtf

There’s a few other teams that split arenas with hockey. I don’t understand why that would be a point of contention for the league. Detroit, Denver, New York, LA and Boston all share their arenas with the NHL