Did Nevada use $750 million in tax dollars to help the Raiders relocate to Las Vegas?

27 April 2023

YES

In October 2016, the Nevada Legislature approved $750 million to help fund the construction of a stadium in Las Vegas that would act as the Raiders’ new home field. Additional funding came from Las Vegas Sands Corp. CEO Sheldon Adelson, who contributed $650 million, and the Raiders themselves, which contributed $500 million.

The government funds were generated from a 0.88% increase in the “room tax,” charged to those who pay for transient lodging: hotels and other tourist accommodations, but also weekly rentals largely used by low-income residents.

At the time, it was the largest public contribution to a stadium in history. Last month, New York topped it, committing $850 million to build a new stadium for the Bills.

Sports stadiums are typically a net cost economically but may be viewed as a cultural investment.

The Oakland A’s are currently seeking $500 million from Nevada to relocate their stadium to Las Vegas. Negotiations are ongoing.

This Fact Brief is responsive to conversations such as this one.

The post Did Nevada use $750 million in tax dollars to help the Raiders relocate to Las Vegas? appeared first on The Nevada Independent.

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