Posted on 01/31/2017 3:19:54 AM PST by C19fan
The Raiders’ plan to move into a brand-new $1.9 billion stadium in Las Vegas took a major hit Monday when an investor expected to contribute about a third of that amount angrily backed out. Nevertheless, the team reiterated its intention to relocate to that city from Oakland when the facility is ready, possibly in two to three years.
(Excerpt) Read more at msn.com ...
I think what the Raiders want is a five-star arena structure with literally hundreds of private cabins for private-party groups, and a big chunk of this profit going strictly toward them.
No one much wants to bend over backwards and put big money....to have the team making the big money out of the arena itself.
Personally, I think this is a no-brainer on profit. They will be able to fill up a 65,000 seat stadium for every single game. In fact, I’d go a notch higher and put in 75,000 seats for the indoor arena. I’d even go and put into two major hotels at each end of the stadium and hype up 2,000 rooms each with NFL landscape for each one.
2 Bil for a Staid e yum?
They should have the public be shareholders in the team/stadium voluntarily.
Good on Adelson. Who would take that deal?
RAIDERS IN NEW VEGAS!!!!
I will wager one single American dollar that you posted that from a smart phone.
Vegas wants it as a viable Superbowl location.
Good grief, this is over two or three weeks old on the Raiders and Adelson split. The defining moment came when the city has agreed to financing terms that an addition to the bed tax will essentially fund the stadium and they have the financing now in place. So, in essence, the taxpayers are not footing the bill, the visitors coming into tow to lose money anyway will keep it from being on the backs of the local residents.
I was stunned when I read this story on Fox Biz. No one is more pro-Vegas than Adelson. According to the Sands people, he said screw you to Davis when he read their demands about college games that might be played in the new stadium. Of all the stupid ways for a good, big, deal to fall apart. Doh. They’re looking to Goldman Sachs now who may be less pro-Vegas and more dispassionate about treating the locals well. Can;t believe Davis gets an oppty like this and frigs it up.
I ask the same question I asked the Governor and the legislature. Has anyone done a study to find out what the reduction in visitor nights is when a room goes up by the proposed amount? The answer is no, they haven’t and they mostly don’t understand my question. Supply and demand escape them. Mark my words the taxpayers will be asked to pay at some point. It happens 100% of the time with .gov backed facilities. The Reno baseball stadium is a prime example.
Apparently Mark Davis is looking to Goldman Sachs to front him an enormous amount of money for his Vegas stadium. But Goldman Sachs will expect a hefty return on their investment - one which might eat away any profit Davis makes. Mark Davis simply isn’t rich enough to be an NFL owner these days - this is probably going to end with him having to sell controlling interest in the Raiders (which was what Adelson was probably looking for).
Las Vegas is a weird town. I can fly there for cheap and rent vehicles for relatively cheap, but if I want an inexpensive place to spend the night, I head for nearby Jean (if heading southwest on I-15) or Mesquite (if heading northeast on I-15).
It started raining once when I was there. Seriously, it rains in Las Vegas. I saw it with my own eyes. The grease and dust which accumulates most of the time on the roads turns them into a banana peel like surface when activated with moisture. Since I wasn't following close, I avoided a fender bender when traffic backed up to avoid the many which occurs if too much of this surface wasn't cleaned.
Yet, as rivals for tourism and meetings and conventions, Las Vegas and Orlando tend to copy not just each other's strategies but also their bad ideas. The Mayor of Orlando is now talking about attracting an NFL team. If that comes to pass, just as in Vegas, a hike in the local bed tax will no doubt be a major component of the stadium financing. The drawback is that over time, local taxes and surcharges tend to burden and deter budget conscious individual and family visitors who benefit little from the projects financed.
In political and economic terms, for both Las Vegas and Orlando, the bed tax and similar charges on visitors are a way to get all visitors to finance public improvements and attractions that work to the special benefit of well-located hotels and attractions. The Mayor of Orlando -- a Democratic hack lawyer -- would love to dangle and influence an NFL stadium location and the attendant construction and service contracts as plums to his friends.
In the long run though, the net effect of high bed taxes and other charges on visitors can undermine the attractiveness of a tourist destination. Eventually, even tourists and convention goers recognize that they are getting gouged. Orlando and Las Vegas both tend to suffer badly when the economy sours and visitors stay home rather than let themselves get clipped.
I live in Las Vegas.. im not sure your right about it being filled ever game ...it an odd town
If you hype the weekend games ahead of time, with various packages for the flight, hotel and casinos...I could fill that stadium easily. Just on high-end folks and the private booths....you could easily get the high spender crowd to fly in and spend the whole weekend in Vegas.
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