The Raiders inaugural NFL season in Las Vegas was marred by the pandemic. This created doubt in some people's minds about the investment made to build the $2 billion stadium for the Raiders. The immediate beneficiary was the Raiders. The Raider Tean Value increased by $1B. Clark County secured Raiders by pledging a $750 million commitment to building them an NFL stadium just west of I-15 and Mandalay Bay. The county contributed the money in 2017, and raised the funds by issuing bonds on behalf of the Las Vegas Stadium Authority (LVSA). Clark County and the Southern Nevada Tourism Infrastructure Committee promised substantial economic benefits for the region by raising the Hotel Occupancy Tax on Casino Resorts. This was done in order to help fund a $1.97 billion NFL Stadium near the Strip.
But less than a year after the opening of Allegiant Stadium, the home of the NFL Las Vegas Raiders franchise, Clark County was accessing reserve funds to meet its Mandatory Bond Payments. The Raider's new stadium, Allegiant Stadium in Las Vegas, was not a manageable expense; it cost nearly $2 billion to build and prepare the Raiders for their home opening game. But for the fact that Las Vegas is the "World's Leading Dollar Creating Tourist Destination," Las Vegas was able to approve such an expense. What happened next came as no surprise to Clark County officials and the Tourism Infrastructure Committee. Las Vegas always has been the tourism capital of the U.S. and a place that makes every event feel like the Super Bowl. Allegiant Stadium quickly asserted itself as the top destination in the league for visiting fans and events.
The 2022 Pro Bowl and the 2022 NFL Draft were held in Las Vegas. The Super Bowl will be in Las Vegas in 2024. Networks booking prime-time games seem to default to Raiders home games almost as if they are simply looking to give their crew and executives a nice reward. All of this makes sense in retrospect. There was never a doubt Las Vegas would quickly become the top location for those who enjoy making a trip to an NFL game.
The Allegiant Stadium creates a better playing advantage for the Raiders with high strength, gossamer, and polymer ceilings that bring in natural light, allowing the heat to stay down in the summer. The crystalline stadiums give off an allusion that makes the stadium seem black during the day; meanwhile, the inside lights will be visible at night. Was luring the Oakland Raiders to Las Vegas to become the Las Vegas Raiders worth it? YOU BET and then some.... The Raiders helped develop Las Vegas into a Major Sports Destination. Something other than a Sports betting town, Las Vegas is now the envy of most sports franchises. The National Basketball Association and Major League Baseball will both soon locate franchises in Las Vegas. The success of the Raiders has played a major part in this transition. THANX, MARK DAVIS.