via a press release from NBC,

Wednesday night’s coverage on NBCSN will feature a combination of the annual NHL Awards ceremony and the NHL Expansion Draft. The 2017 NHL Expansion Draft will fill the roster of the Vegas Golden Knights, the league’s first expansion team since 2000, when the Columbus Blue Jackets and Minnesota Wild joined. Vegas will select one player from each of the 30 current NHL teams. Each team has a protected list which from Vegas cannot select a player.

The 2017 NHL Awards will celebrate the best regular-season players in a wide range of categories, including most valuable player (Hart Trophy), outstanding goaltender (Vezina Trophy), outstanding defenseman (Norris Trophy) and outstanding rookie (Calder Trophy). The Ted Lindsay Award, which is presented annually to the “most outstanding player” in the NHL as voted by fellow members of the National Hockey League Players' Association (NHLPA) also will be awarded.

NHL on NBC hosts Kathryn Tappen and Paul Burmeister, and Emmy Award-winning ’Inside-the-Glass’ analyst Pierre McGuire will provide commentary from T-Mobile Arena, alongside Sportsnet’s Daren Millard, and actor Joe Manganiello, who will host the event.

My understanding via tweets from hockey people is there will be award announcements, an expansion draft pick here and there, more awards, more picks, etc.