This one was actually pretty hard for me. I don't like at all that Las Vegas aesthetics and the city's simbolism, and I don't like the name and concept for the team. However I think the current logo is quite fitting to what it proposes, but I found out that it was heavily criticized at its launching.
So I tried to keep the stabilished colors and concept, but I thought I could put the neon visual a bit over the top, while giving the name "Lights" more readability and also use the crest shape to draw the letters L and V. The rays in the circle background also evokes a little bit a roulette to give more of the gambling spirit.
@pierrelapa I think you've done a good job. LVL are conceptually a love them or hate them kind of team. I kind of admire that they have gone away from the American conservative kit design, but even for me, perhaps they've gone a bit too far. But, I suppose Las Vegas is known for being dazzling and a bit brash.