What could go wrong on the Las Vegas Raiders Stadium project?

It’s a sprawling, $1.8 billion project on a tight deadline and has been a point of contention for more than two years.

It features the largest public financial contribution to a sports facility ever completed in a state that struggles to stay out of the national basement in most education measures.

And it has to be ready 853 days from now. Preseason games would start in August.

What could possibly go wrong on the Las Vegas Stadium project?

To their credit, the Las Vegas Stadium Authority and the Oakland Raiders have invested a considerable amount of time, money and effort to head off potential problems and address the unexpected as the project moves from legal paperwork to steel girders and concrete.

Raiders President Marc Badain seems convinced that the can-do attitude of the state’s government leaders and Southern Nevada’s labor force can pull off an ambitious timetable that puts the Raiders on the field for the 2020 NFL season.

But is there any concern that that we’ve promised something that can’t be delivered?

Every theory about potential problems has been outlined by a small but noisy contingent of critics based in Oakland, California. Last week, they were chirping about earthquake fault lines in Southern Nevada as if construction engineers — who surely know that Nevada is one of the nation’s most actively seismic states — hadn’t even thought about the geology around the stadium site. It’s a little hard to envision people living in the Bay Area concerned about earthquake problems in Nevada. But I digress.

Badain last week acknowledged that many people in Oakland are disappointed in the Raiders’ move to Las Vegas, but many more are happy that their team will have a home they can be proud of. Some are even counting down the days they can combine a game experience with a Vegas road trip.

Generating the revenue necessary to cover the bonds shouldn’t be a problem because so many protections have been built into assuring that more than enough money will be collected to retire those bonds. Yes, visitor volume has been less than it was the year before for the past nine months. But tax revenue is more about money spent than volume. That’s why the Las Vegas Convention and Visitors Authority is as conscientious about reporting occupancy rates and average daily room rates as it is about tallying visitor volume.

Over time, there have been dramatic rises and significant drops in collections, but historically, it has been a steady 2 percent climb in accumulated tax revenue. That’s why the bond security will only get better in the years ahead.

That said, there are still some areas that might make people uncomfortable about whether the stadium will get done on time.

The weather. The one thing the Stadium Authority and the Raiders can’t control. Sure, it gets hot in the summer, but there aren’t many places with a more moderate climate than Southern Nevada. Yes, it will rain once in a while, maybe enough that workers will have to wait for the water to subside. I would be more worried about high winds affecting operations of the tall cranes on the site.

A lack of skilled labor. The stadium project will be competing for labor with other big projects in town. Presumably, the contractors have scoped this out and scheduled accordingly. You’ve got to love the enthusiasm union labor is bringing to the urgency of getting the project done. Raiders executives have said they like the fact that many workers will treat this as a legacy project and will want to bring sons and daughters to a stadium that moms and dads helped build.

A breakdown in the supply chain. Contractors have already outlined when they need to have certain materials on the site, but the prospect of federal steel and aluminum tariffs could throw a monkey wrench into an established supply system.

Legal or political fallout. The chances are remote that a lawsuit could stop a project, but we’ve actually seen it happen on other projects in Southern Nevada, so it has to be considered. The most recent local high-profile example of a lawsuit blocking a project involves a proposed residential development at the site of the Badlands golf course.

The unspeakable. If a terrorist act ever occurred, stadium delays obviously would be the least of our worries.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

ad-high_impact_4
Business
Neon wraps can light up the night for advertising
Vinyl wrap company 5150 Wraps talks about neon wraps, a new technology that the company believes can boost advertising at night. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nevada on the forefront of drone safety
Dr. Chris Walach, senior director of Nevada Institute for Autonomous Systems, talks to a reporter at NIAS's new Nevada Drone Center for Excellence of Public Safety, located inside the Switch Innevation Center in Las Vegas. K.M. Cannon Las Vegas Review-Journal @KMCannonPhoto
Motel 8 on south Strip will become site of hotel-casino
Israeli hoteliers Asher Gabay and Benny Zerah bought Motel 8 on the south Strip for $7.4 million, records show. They plan to bulldoze the property and build a hotel-casino. Motel 8 was built in the 1960s and used to be one of several roadside inns on what's now the south Strip. But it looks out of place today, dwarfed by the towering Mandalay Bay right across the street.
Project billed as one of the world's largest marijuana dispensaries plans to open Nov. 1
Planet 13 co-CEO Larry Scheffler talks about what to expect from the new marijuana dispensary, Thursday, July 19, 2018. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Oasis Biotech opens in Las Vegas
Brock Leach, chief operating officer of Oasis Biotech, discusses the new plant factory at its grand opening on July 18. (Bailey Schulz/Las Vegas Review-Journal)
UNLV Tech Park innovation building breaks ground
Construction on the first innovation building at the UNLV Tech Park is underway. (Bailey Schulz/Las Vegas Review-Journal)
Caesars Forum Meeting Center
Caesars broke ground Monday on its $375 million Caesars Forum Meeting Center (convention center) just east of the High Roller observation wheel. (Caesars Entertainment)
Technology reshapes the pawn shop industry
Devin Battersby attaches a black-colored device to the back of her iPhone and snaps several of the inside and outside of a Louis Vuitton wallet. The device, installed with artificial intelligence capabilities, analyzes the images using a patented microscopic technology. Within a few minutes, Battersby receives an answer on her app. The designer item is authentic.
Recreational marijuana has been legal in Nevada for one year
Exhale Nevada CEO Pete Findley talks about the one year anniversary of the legalization of recreational marijuana in Nevada. (K.M. Cannon/Las Vegas Review-Journal)
Young adults aren't saving for retirement
Financial advisors talk about saving trends among young adults. (Bailey Schulz/Las Vegas Review-Journal)
President Trump’s tariffs could raise costs for real estate developers, analysts say
President Donald Trump made his fortune in real estate, but by slapping tariffs on imports from close allies, developers in Las Vegas and other cities could get hit hard.
Las Vegas business and tariffs
Barry Yost, co-owner of Precision Tube Laser, LLC, places a metal pipe into the TruLaser Tube 5000 laser cutting machine on Wednesday, June 20, 2018, in Las Vegas. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Nevada Film Office Connects Businesses To Producers
The director of the Nevada Film Office discusses its revamped locations database and how it will affect local businesses. (Bailey Schulz/Las Vegas Review-Journal)
Opendoor isn't the typical house flipping company
Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
The Venetian gondoliers sing Italian songs
Gondolier Marciano sings a the classic Italian song "Volare" as he leads guests through the canals of The Venetian in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal)
Building In Logandale
Texas homebuilder D.R. Horton bought 43 lots in rural Logandale. (Eli Segall/Las Vegas Review-Journal)
Indoor farming in Southern Nevada
Experts discuss Nevada's indoor farming industry. (Bailey Schulz/Las Vegas Review-Journal)
Former Fontainebleau could have become a Waldorf Astoria
Months after developer Steve Witkoff bought the Fontainebleau last summer, he unveiled plans to turn the mothballed hotel into a Marriott-managed resort called The Drew. But if Richard “Boz” Bosworth’s plans didn’t fall through, the north Las Vegas Strip tower could have become a Waldorf Astoria with several floors of timeshare units. (Eli Segall/Las Vegas Review-Journal)
LVCVA CEO Rossi Ralenkotter announces plans to retire
Rossi Ralenkotter, CEO of the LVCVA, on Tuesday confirmed a Las Vegas Review-Journal report that he is preparing to retire. Richard N. Velotta/ Las Vegas Review-Journal
Cousins Maine Lobster to open inside 2 Las Vegas Smith’s stores
Cousins Maine Lobster food truck company will open inside Las Vegas’ two newest Smith’s at Skye Canyon Park Drive and U.S. Highway 95, and at Warm Springs Road and Durango Drive. Cousins currently sells outside some Las Vegas Smith’s stores and at Fremont Street and Las Vegas Boulevard. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas home prices to continue to rise, expert says
Lawrence Yun, chief economist at the National Association of Realtors, gives homebuyers a pulse on the Las Vegas housing market. (Eli Segall/Las Vegas Review-Journal)
NV Energy announces clean energy investment
The company is planning to add six solar projects in Nevada, along with the state's first major battery energy storage capacity. Bailey Schulz/Las Vegas Review-Journal
3 Mario Batali restaurants on Las Vegas Strip to close
Days after new sexual misconduct allegations were made against celebrity chef Mario Batali, his company announced Friday that it will close its three Las Vegas restaurants July 27. Employees of Carnevino Italian Steakhouse, B&B Ristorante and Otto Enoteca e Pizzeria, all located in The Venetian and Palazzo resorts, were informed of the decision Friday morning. Bastianich is scheduled to visit the restaurants Friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions.
Nevada has its first cybersecurity apprenticeship program
The Learning Center education company in Las Vegas has launched the first apprenticeship program for cybersecurity in Nevada. It was approved by the State Apprenticeship Council on May 15. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas union members voting to authorize the right to strike
Thousands of Las Vegas union members voting Tuesday morning to authorize the right to strike. A “yes” vote would give the union negotiating committee the power to call a strike anytime after June 1 at the resorts that fail to reach an agreement. (Todd Prince/Las Vegas Review-Journal)
Small businesses struggle to find qualified candidates
A 2018 survey found that over two-thirds of small businesses in Nevada find it somewhat to very difficult to recruit qualified candidates. Bailey Schulz/Las Vegas Review-Journal
TOP NEWS
News Headlines
Add Event
Home Front Page Footer Listing
Circular
You May Like

You May Like