weather icon Clear

Raiders highlight Thursday agenda, but no quick action possible

Those National Football League fans hoping to get a definitive resolution on whether the Oakland Raiders are Las Vegas bound will likely be disappointed with the outcome of today’s Southern Nevada Tourism Infrastructure Committee meeting.

Aside from the delivery of a few promises that might not be able to be kept, portions of the meeting of the 11-member committee formed by Gov. Brian Sandoval look to be a series of presentations and question-and-answer sessions involving the partnership that is proposing a 65,000-seat, $1.3 billion domed stadium.

While the stadium proposal brought by Las Vegas Sands and Majestic Realty has grabbed all the headlines, and reports of appearances by Raiders owner Mark Davis and soccer legend David Beckham on behalf of the stadium have been the focal point of public attention, the reality is that the stadium proposal is just one portion of the meeting that is expected to last most of the day.

Also on the agenda for the meeting at the Stan Fulton Building, on the southeast corner of Flamingo Road and Swenson Street, is a discussion about the Las Vegas Convention and Visitors Authority’s proposed expansion and upgrade to the Las Vegas Convention Center.

The to-do list for that project includes securing the funding for at least $1.4 billion in improvements above what’s already been paid for in the acquisition and demolition of the shuttered Riviera property to clear the way for new construction.

Discussion also is planned on transportation and mass transit proposals. While several key transportation leaders are advocating the development of light rail, particularly a route that would link McCarran International Airport with the Strip and downtown Las Vegas, Clark County announced it is diving into the design of an elevated expressway that would expedite auto traffic between the airport and the Strip, hugging the site of the proposed stadium.

The expressway proposal has been attacked by numerous urban planners as a 20th century solution to the 21st century problem on how to move large volumes of people from the airport to the city’s largest hubs of activity.

Don’t expect the committee to choose what’s most important among those three tourism needs by the end of the meering today. That’s a discussion more likely to occur at the committee’s May and June meetings.

While Davis may promise that his Raiders would come to Las Vegas if a stadium is built, it’s a promise he may not be able to deliver unless 24 of the 32 NFL owners concur with the plan. Some old-school owners have shown reluctance to committing to Las Vegas because of the NFL’s longstanding policy against mixing football with gambling.

There’s also the matter of getting the stadium built. The Sands and Majestic team is expected to lay out prospective funding scenarios based on what other cities have done to build their own venues.

The team has said in the past and documents filed in advance of the meeting view a stadium as a community tourism asset that’s necessary to compete with rival cities.

Proponents say the stadium would work with or without an NFL tenant. A draft report projects 46 stadium events, including 10 NFL games, two preseason and eight regular season.

Planners say there would be six UNLV games, two college bowl games, and two neutral-site college football games.

Based on the experience of other stadiums, proponents expect the rest of the calendar to be filled with rugby, mixed martial arts, boxing, Supercross and Monster Jam motorsports events, and maybe even the NFL’s Pro Bowl and Super Bowl games.

The committee is expected to review and discuss some of the unique funding sources that occur in stadiums across the country, including Texas’ Brimer Bill and Events Trust Fund, Florida’s Sports Development Incentive program, and Allentown, Pennsylvania’s Neighborhood Improvement Zone.

Proponents also are presenting a comparison of lodging tax rates across the country which show how low Las Vegas is by comparison — an indication that a proposal may be in the works to raise the tax rate that tourists pay on motel and hotel rooms and car rentals.

Las Vegas’ current rate is 12 percent. Rates range from 12.5 percent in Orlando, Florida, to 17 percent in Houston.

If the funding pot is expanded, there could be more money available for a stadium, the convention center and transportation and transit projects.

That’s a recommendation the committee could make, but not approve on its own. That would become the responsibility of the Nevada Legislature, which doesn’t meet until February, unless the governor calls a special session.

More than likely, he wouldn’t do that until he has reviewed the committee’s report, which isn’t due until the end of July.

The stadium discussion will be broadcast live via the Review-Journal’s Facebook page, facebook.com/reviewjournal around 8:30 a.m.

The Review-Journal is owned by a limited liability corporation owned by the family of Sands chairman and CEO Sheldon Adelson.

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

Don't miss the big stories. Like us on Facebook.
Business Videos
How much do Las Vegas casino CEOs make?
Las Vegas gaming CEOs made anywhere between $1 million and $24 million last year, according to company filings with the U.S. Securities and Exchange Commission. ((Las Vegas Review-Journal)
30-year-old Rio needs a little TLC
Nearly 30 years after the Rio opened, the red and blue jewel that helped catapult Las Vegas to a new level with its buffet and nightclub has lost its status along with its shine.
The latest on the Drew Las Vegas - VIDEO
Eli Segall recounts his tour of the Drew Las Vegas, formerly the Fontainebleau, on the Las Vegas Strip. (Michael Quine/Las Vegas Review-Journal)
Pinball Hall of Fame to move near south Strip
Operators of the Pinball Hall of Fame have been approved to build a new, larger arcade near the south edge of the Strip on Las Vegas Boulevard near Russel Road. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
National Hardware Show underway Las Vegas
The National Hardware Show kicked off Tuesday at the Las Vegas Convention Center (Mat Luschek / Review-Journal)
Caesars for sale?
Caesars Entertainment Corp. has been swept up in takeover speculation since the company’s share price tumbled last year amid disappointing earnings and concerns over a recession. Amid the decline, hedge funds scooped up shares. Billionaire activist investor Carl Icahn began buying shares of Caesars as early as January. Icahn acquired nearly 18 percent by mid-March. In February Icahn called on the Caesars board to study a sale as a way to boost shareholder value.
Las Vegas home prices
Las Vegas home prices grew fastest among major markets in February for the ninth straight month. But amid affordability concerns, the growth rate has slowed down. Southern Nevada prices in February were up 9.7% from a year earlier, according to the latest S&P CoreLogic Case-Shiller index. The last time Las Vegas' price growth fell below 10% was in September 2017, S&P Dow Jones Indices reported.
Free Parking Coming To Wynn
Free parking will come to the Wynn and Encore resorts on May 1, 2019. (Mat Luschek / Review-Journal)
Founding Venetian employees talk about 20 years at the Strip resort
The Venetian, which opened May 3, 1999, is celebrating 20 years on the Las Vegas Strip. Seven original employees talk about opening the luxury resort and working there for two decades. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Circa aiming for December 2020 opening
The 1.25-million-square-foot property will have 44-stories and 777-rooms. It will also have a separate nine-story, 1,201-space parking garage.
Boxabl official explains the building concept
Boxabl business development manager Galiano Tiramani shows off a room built by his company. (Blake Apgar/Las Vegas Review-Journal)
TI/Mirage Tram reopens
The tram that shuttles guests between TI and Mirage reopened this week after being closed for much of 2018.
Las Vegas Convention Center expansion taking shape
Renderings and actual footage show how the Las Vegas Convention Center is evolving.
Former Starbucks CEO Howard Schultz at Las Vegas convention
Former Starbucks CEO and potential presidential candidate Howard Schultz spoke at the Epicor Insights user conference at Mandalay Bay Convention Center Wednesday, April 17, 2019. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Drew Las Vegas to open in the second quarter of 2022
The 67-story Drew Las Vegas is slated to open in the second quarter of 2022 at the north end of the Las Vegas Strip. (Michael Quine/Las Vegas Review-Journal)
NAB Day 1 (Time Lapse)
NAB kicked off at the Las Vegas Convention Center on Monday, April 8, 2019. (Mat Luschek / Review-Journal)
National Association of Broadcasters Show shows 1mm thick 8K TV with 22.2 channel digital sound
Japan’s NHK Science & Technology Research Laboratories booth featured a 1mm thick 8K TV system used in conjunction with a 22.2 channel digital sound system at the National Association of Broadcasters Show at the Las Vegas Convention Center. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Nevada shoppers react to Smith’s no longer accepting Visa credit cards
On March 1, Smith’s announced that it would no longer be accepting Visa credit cards at any of its 142 supermarkets, including the 45 in Nevada.
Massachusetts Gaming Commission asks how long Wynn executives knew about misconduct
Business reporter Rick Velotta gives an update on the adjudicatory hearing on the suitability of Wynn Resorts to retain its gaming license in Massachusetts.
Henderson app developer part of Startup in Residence
Henderson based developers of the app On Point Barricade are taking part in Startup in Residence, a North America program dedicated to pairing tech companies with governments. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Sam's Town employees and customers talk of their love for the iconic casino
Longtime Sam's Town employees and customers love each other and love their casino. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Las Vegas apartments rents
Las Vegas’ apartment market has accelerated in recent years. Developers are packing the suburbs with projects, landlords are on a buying spree, and tenants have filled buildings.
William Boyd talks about the birth of Sam's Town
On the eve of the 40th anniversary of Sam's Town, William Boyd, executive chairman of Boyd Gaming and son of hotel namesake Sam Boyd, talks about how the casino became one of the first local properties in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
High Roller observation wheel turns five
The world’s tallest observation wheel celebrates it’s fifth year on Sunday, March 31, 2019. (Michael Quine/Las Vegas Review-Journal) @Vegas88s
Escape Room Industry Growing In Las Vegas
Escapology employees discuss the growing escape room industry in the U.S. and Las Vegas. (Bailey Schulz/Las Vegas Review-Journal)
Impact of parking fees on visiting the Las Vegas Strip
There are no data showing a relationship between Strip resort and parking fees and the number of out-of-state visitors to Las Vegas. But there are data showing a relationship between Strip parking fees and the number of local visitors to the the Strip. ‘’As a local, I find myself picking hotels I visit for dinner or entertainment, based on whether they charge for parking or not,”’ said David Perisset, the owner of Exotics Racing. ‘’It is not a matter of money, more of principle.’’ A 2018 survey by the Las Vegas Global Economic Alliance found 36.9 percent of Clark County residents reported avoiding parking at Strip casinos that charge for parking. 29.1 percent reported avoiding using any services from a Strip casino that charges for parking.
MGM's sports betting deals
MGM Resorts International signed a sports betting sponsorship agreement with the NBA in July It was the first professional sports league to have official ties with a legal sports betting house. The deal came just two months after the U.S. Supreme Court overturned a law prohibiting sports betting in most states. In October, MGM became the first gaming company to sign a sports betting partnership with the NHL. In November, MGM became the first gaming company to sign a sports betting partnership with the MLB. Financial terms of Tuesday’s deal and earlier partnerships have not been announced.
Faraday puts Las Vegas land on the market
Nearly two years after Faraday Future bailed on its North Las Vegas auto factory, the company has put its land up for sale. (Michael Quine/Las Vegas Review-Journal)
El Cortez owner Kenny Epstein on running the iconic property
Kenny Epstein, owner of the El Cortez Hotel in downtown Las Vegas, talks about Jackie Gaughan mentorship and answers rumors about bodies in the basement at the mob-era casino. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
LVCVA recommends construction of underground people mover
The Las Vegas Convention and Visitors Authority announced the recommendation for an underground people mover for the convention center. The system would have the potential to expand and connect Downtown and the resort corridor all the way to McCarran. (Michael Quine/ Las Vegas Review-Journal)
Nevada’s real estate industry blamed wrong enemy when bubble burst

State lawmakers approved a bill in 2015 — a decade after Las Vegas’ wild building spree — that raised barriers to pursuing lawsuits alleging shoddyconstruction. A measure now working its way through the Democratic-controlled Legislature would wipe out or change provisions of that law.

CEOs get $800K pay raise, leaving workers further behind

Pay for CEOs at S&P 500 companies rose to a median of $12 million last year, including salary, stock and other compensation, according to data analyzed by Equilar.