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#pounditThursday, March 28, 2024

Potential Raiders stadium in Las Vegas takes another step forward

Mark Davis

A potential move to Las Vegas took another step forward for the Oakland Raiders on Thursday as a tourism committee recommended $750 million in public funding for an NFL Stadium.

The Southern Nevada Tourism Infrastructure Committee voted unanimously in favor of the public funding for the project, which would raise hotel tax throughout Las Vegas and help pay for a 65,000-seat domed stadium that has a proposed overall price tag of $1.9 billion.

“We get an NFL team, and that is a significant step forward for Las Vegas and the community,” committee chairman Steve Hill said via ESPN on Thursday. “Those teams bring the community together. We’re going to have people wearing Raiders jerseys and high-fiving each other. … That’s not something you can put a number on.”

Las Vegas Sands CEO Sheldon Adelson has also pledged $650 million towards the construction of the stadium, while the Raiders would kick in an additional $500 million.

“We are excited,” Raiders owner Mark Davis also told ESPN. “Thank you to the SNTIC.”

The panel’s recommendation will now head to the desk of Gov. Brian Sandoval, who will decide whether or not to call a special session of the State Legislature to consider a financing plan. However, Sandoval says he will not proceed “until all questions have been resolved.”

“Nevada has served as the standard bearer for global tourism, gaming, and conventions for decades,” Sandoval said via The Review Journal. “In order to remain the top destination, we must explore potential opportunities and push forward to lead this international industry into the next generation of travel and tourism. I am hopeful the work completed by this committee will serve as a roadmap to Southern Nevada’s unrivaled and continued success.”

The early hope is that a decision can be made prior to the NFL Owner’s Meetings in January so a relocation vote can be held.

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