Officers were dispatched at about 2:50 a.m. to Figueroa and 12th streets, according to the Los Angeles Police Department's Media Relations Section.
About 40 to 50 vehicles were performing donut maneuvers in the street and spectators were lighting illegal fireworks, police said.
Video from the scene showed at least two broken windows at The Team LA store at Crypto.com Arena in the aftermath of the takeover.