Raiders stadium a big bet
Funding for a $1.9 billion stadium that will bring the first professional sports team to Nevada is before a special session of the Legislature on Monday.
Clark County room tax will supply $750 million of the cost to build a stadium, with the Raiders’ owners providing $500 million and Las Vegas Sands owner Sheldon Adleson making up the difference of $650 million.
The Oakland Coliseum where the Raiders currently play is the smallest NFL stadium in the nation, and celebrated its 50th birthday this year. It’s the only remaining stadium in the country that is shared by professional football and baseball teams, and can house 56,000 football fans.
The Las Vegas stadium will have a dome, and will have seating for 65,000. That’s enough for every person in Douglas County with change left over.
It has been 20 years since the Raiders left Los Angeles to return to Oakland.
Public funding for the stadium would allegedly help fuel Nevada’s economic engine. That’s the argument offered whenever we see one of these public-private proposals.
Because the funding source is room tax, and Clark County hotels have acquiesced, there doesn’t seem to be much for legislators to debate. But that doesn’t mean there won’t be a fight.
This will be the last time before the election that lawmakers will get to strut their stuff for voters.
If they vote for this proposal, lawmakers will be spinning a routlette wheel and hoping it lands on black.