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Las Vegas Strip Close to Landing Major Sports Franchise

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Las Vegas Strip Close to Landing Major Sports Franchise

Las Vegas has become a bargaining chip for every Major League Baseball (MLB) and National Basketball Association (NBA) looking for a better deal from their hometown. That’s because Sin City has become such a successful market that the NHL’s Golden Knights (an expansion team) and the relocated Oakland Raiders have become the most expensive tickets in the league’s secondary ticket market.

Most teams don’t actually want to leave their hometowns, they just want to stay on for better deals. Moving a team far away in an unfamiliar market means having to build a new fan base. That’s not the case with the Raiders, as the team has moved between Los Angeles and Oakland, and Las Vegas is a short (or a long drive) flight.

With this move, the Raiders went from a team with a small, enthusiastic local fan base struggling to sell tickets in an outdated stadium to a popular ticket to play at Allegiant Stadium, a state-of-the-art, modern facility. The Raiders game sold out, attracting traveling fans of the home team, Vegas locals who adopted the team, traveling fans of the away team, and curious tourists who enjoyed watching NFL games.

The same formula applies to the Golden Knights, and now the Oakland Athletics are getting closer to calling Las Vegas home.

The A’s are eyeing the Las Vegas Strip

Technically, the A’s have been in talks with Las Vegas and their current home in Oakland. The team appeared to be very close to a deal in Sin City, possibly a location on the Las Vegas Strip, when concerns over public funding brought the deal to a standstill. Now, however, public funds appear to be back on the table, according to the Las Vegas Review-Journal.

“According to Steve Hill, CEO and President of the Las Vegas Convention and Visitors Authority, some form of public assistance could be available to help lure the Oakland Athletics to Las Vegas,” the paper said. say.

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The city has used the room tax — a 0.88 percent tax on hotel rooms — to repay the city’s $750 million donation to the $2 billion stadium.

Hill isn’t completely abandoning the idea of ​​levying room rates to fund Class A stadiums, but he does suggest other ideas might make more sense.

“There are multiple possibilities for this partnership, and I think some of them are worth exploring,” Hill said. “I think there’s a broad set of options that could help move this forward. I don’t think it’s really the right use of the room tax, but I do think there are ways to contribute that could and do make sense. “

What will the A Stadium in Las Vegas look like?

The team has narrowed the selection down to two locations on (or near) the Las Vegas Strip. A site would be where a lot of A builds the stadium itself or in a private/public partnership.Another location will be with a major casino operator (likely a gaming and leisure property) (GLPI) – Get Gaming and Leisure Properties, Inc. Report Not MGM Resorts International (MGM) – Get the MGM Resorts International report or caesars entertainment (CZR) – Get Caesars Entertainment Inc Reportalthough no partner was named), the Las Vegas Sun reported.

Gaming & Leisure Properties CEO Peter Carlino said on the earnings call that the A’s have shown “a very, very strong interest” in owning a stadium at their venue, the one at the Tropicana Resort Casino.Pennsylvania National Games (PENN) – Get the Penn National Gaming, Inc. report Operates Tropicana, and Gaming & Leisure Properties owns the site.

“If we can promote something exciting, you bet we will,” Carlino said of the 35-acre site. “So I have to say, stay tuned and we’ll let you know.”

Athletics president Dave Kaval said the team’s goal is to secure land for a potentially $1 billion, 30,000-seat field near the resort corridor, according to the Las Vegas Sun. The stadium is expected to feature a dome with a retractable roof.

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