Stadium Proponents Say Project Brings Jobs, Boosts Tax Revenues
The Las Vegas domed stadium has yet to be built, but it is already part of an overtime game.
Gov. Brian Sandoval extended the life of the Southern Nevada Tourism Infrastructure Committee until the end of the month to reach agreement on a funding package for the $1.9 billion stadium, lynchpin in luring the Oakland Raiders to Las Vegas.
Representatives of casino tycoon Sheldon Adelson, his Las Vegas Sands Corp., Majestic Realty and the Raiders are seeking $750 million in public financing to bolster their private investment, which includes a pledge of $650 million from Adelson’s personal fortune..
The committee has until the end of the month to send its recommendations to the governor, who could then call the Legislature into session to address the matter. Along with the Raiders, the stadium would be home to UNLV’s football team and regular special events.
Andy Abboud, vice president of government relations and community development at Las Vegas Sands, has been making the case for public funding in a series of media interviews. Estimates from the stadium development team say the project would create 8,000 jobs and bring in nearly $60 million a year in additional tax revenue for education, roads and police.
Andy Abboud, vice president of government relations and community development, Las Vegas Sands Corp.; Mike Mixer, executive managing director, Colliers International Las Vegas