On Lap 224 of 267, Busch rocketed from sixth on the restart to the point, diving under leaders Brad Keselowski and Joey Logano in the process.
Busch held the lead, pacing the field for 38 laps until a vibration slowed his car, allowing Keselowski to pass for the win with five laps remaining.
Busch finished fourth.
The defending NASCAR Sprint Cup Series champion leads the series points standings by six over Jimmie Johnson. He finished third in both of the races prior to Las Vegas.
In 21 starts at Phoenix – the site of the next NSCS race – Busch has one win, four top fives, 13 top 10s and two poles. He boasts the fourth-best average running position (11.6) and fifth-best driver rating (97.3) among active competitors.
Dating back to last season, Busch has logged a top-five finish in his last seven starts.
“Keep top-fiving it — and the wins will come,” Busch said after the Kobalt 400.