Las Vegas Stadium Backers Don't Want Profit-Sharing
LAS VEGAS (AP) — Proponents of an NFL stadium in Las Vegas aren't budging on their request for $750 million in hotel tax dollars and don't want to return any profits to the public.
An oversight committee met Thursday to continue discussions on a financing plan for the venue, which could be home to the Raiders. Backers from the Las Vegas Sands said they're anxious to get the proposal to Nevada lawmakers so they can prepare their pitch for the NFL's consideration.
Developers estimate that a 65,000-seat domed stadium near the Las Vegas Strip will cost $1.9 billion.
Sands representative Andy Abboud says profit-sharing would be unprecedented for a stadium deal, and argued his company is assuming major financial risk in the project.
The committee could finalize a recommendation for the Legislature next week.