The Las Vegas Stadium Authority has approved its budget for the fiscal year 2018.
The Las Vegas Sun reports the authority’s budget plan is based on an estimated $14 million of profits from this fiscal year and $50 million for the next fiscal year.
The money for the authority is coming from a hike in the hotel room tax, which was approved by the Nevada Legislature last fall.
The room tax surpassed estimates by a half a million dollars in the first two months it was in place.
The tax will fund the $750 million public portion of the stadium that will house the Raiders.
The private portion will be financed by the team through Bank of America.
