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Thursday, Apr. 27, 2023

Did Nevada use $750 million in tax dollars to help the Raiders relocate to Las Vegas?

Austin Tannenbaum, The Nevada Independent
yes

In October 2016, the Nevada Legislature approved $750 million to help fund the construction of a stadium in Las Vegas that would act as the Raiders’ new home field. Additional funding came from Las Vegas Sands Corp. CEO Sheldon Adelson, who contributed $650 million, and the Raiders themselves, which contributed $500 million.

The government funds were generated from a 0.88% increase in the “room tax,” charged to those who pay for transient lodging: hotels and other tourist accommodations, but also weekly rentals largely used by low-income residents.

At the time, it was the largest public contribution to a stadium in history. Last month, New York topped it, committing $850 million to build a new stadium for the Bills.

Sports stadiums are typically a net cost economically but may be viewed as a cultural investment.

The Oakland A’s are currently seeking $500 million from Nevada to relocate their stadium to Las Vegas. Negotiations are ongoing.

See a full discussion of this at The Nevada Independent

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The Nevada Independent is a nonpartisan, nonprofit news and opinion website founded in 2017 by veteran political journalist and commentator Jon Ralston. The site and its supporting channels are focused on ethical, unbiased and transparent journalism. In general, we aim to gather and disseminate important public information and increase civic engagement. We are supported by corporate donations, memberships, event ticket sales and sponsorships and foundation grants. We disclose all our members and donors. Donors have no influence over our content, ever. The Nevada Independent is the dba for Nevada News Bureau, Inc., a 501(c)3 nonprofit founded in 2010 by Elizabeth Thompson, who now serves as one of The Nevada Independent's managing directors and its Editor.

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