A’S STADIUM DEAL LACKS VOTES IN NV LEGISLATURE

June 12, 2023

According to several sources close to the negotiations, the A’s Stadium Deal does not have the necessary votes to pass in the Nevada State Legislature right now. The A’s proposed $1.5 billion, 30,000-seat stadium on the Las Vegas Strip is under attack from the far left and far right, who don’t want to give any tax breaks to any business.

The deal calls for public financing capped at $380 million, including up to $180 million in transferable tax credits from the state and a $25 million credit from Clark County. Under SB509, brought on behalf of Lombardo, Clark County would issue bonds to make up the remaining public funds, estimated to be $120 million. Under SB509, it would establish a tax entertainment district where all taxes generated by the stadium, including sales and payroll taxes, would be used to pay back the public funds.

With an average of 81 home games per regular season, the A’s will be a winner for Las Vegas. 30,000 ticket sales will generate about $486 million a season.

The Raiders deal was a huge success.

I was there in Carson City in 2016, when then-Republican Gov. Sandoval triggered a special session to approve a special hotel tax and other tax incentives to fund the $750 million public contribution for the Oakland Raiders to build their new stadium and move to Las Vegas. Republicans held the majority in both the state Senate and Assembly back then. And it passed by a wide margin. It was even supported by the only Libertarian assemblyman to ever hold office. It was supported by the most conservative Republicans in the state House. It was funded by adding a few cents to every hotel room rented on the strip. No new taxes from residents Yet many local libertarian-leaning Republicans blasted the deal for years.

The Raiders deal went on to be a HUGE success, not so much on the field as off. 65,000 season ticket licenses ranging from $500 to $75,000 each sold out within weeks back in October 2019. That alone raised over $2 billion. The venue holds sellout concerts regularly and now houses UNLV football games.

Our city of Las Vegas thrives off of the 39 million annual visitors. We must constantly evolve in order to grow. But there’s always a small, loud group of people who oppose any change. Frankly, if you are against this deal, you might be living in the wrong town. Perhaps you should move to a small town where they oppose the installation of every new street light.