Las Vegas Considers New Stadium

The domed stadium, put forth by Las Vegas Sands Corp. and Majestic Realty Co., would seat 65,000, more than any existing Vegas venue.

The land used for the proposed stadium is owned by UNLV and near the Thomas & Mack Center. Although the project is just a proposal and specifics are not finalized, it is clear that the stadium would cost upwards of $1 billion and would draw on tourism-based taxes.

The stadium would give the city the ability to host concerts for more than 50,000, something proponents claim is currently lacking. Advocates for the stadium suggest it would generate $600 million to $800 million in annual economic benefit by drawing visitors and encouraging them to stay longer.

Critics suggest that the public cost of such a large venue could be up to $780 million from taxes and tourism-based sources, and that another large venue would not generate an increase in spending or tourism, but would draw visitors away from existing locations.

Oakland Raiders owner Mark Davis is at least considering moving the team to a new city, as he met with Las Vegas Sands Chairman Sheldon Adelson in January.

The Southern Nevada Tourism Infrastructure Committee was formed by Gov. Brian Sandoval to analyze how the state’s infrastructure supports tourism, and will review the proposal from Las Vegas Sands and Majestic at the end of March.