[kayfabe]

Two articles on new LV stadium, a key meeting is scheduled for tomorrow
(Thursday 05/26) at 8AM. First article from a few days back, outlines the
possibilities with or without the Raiders coming to town, plus sets an artificial
deadline of July 31st. Second is from tonight and elaborates on the role of
previous downtown LA stadium proponent Tim Leiweke to do the same in LV...

http://www.reviewjournal.com/business/s ... on-stadium
http://www.reviewjournal.com/sports/nfl ... -case-team

Southern Nevada committee to work on funding $1.4 billion stadium
By RICHARD N. VELOTTA
LAS VEGAS REVIEW-JOURNAL

When the 11-member Southern Nevada Tourism Infrastructure Committee begins
work Thursday on how to pay for a $1.4 billion, 65,000-seat domed stadium,
it will try to piece together a funding strategy that will keep everyone
happy with their return on investment.

Don't count on that being an easy task.

And don't count on the stadium being a done deal.

Some critics of the stadium proposal already have made their position perfectly
clear -- don't contribute a single dime of taxpayer money toward a project that's
bound to generate profits for developer Las Vegas Sands Corp. and the Oakland
-- or is it Las Vegas? -- Raiders.

The pro-stadium side is equally passionate. An indoor football stadium is a
genuine need that can boost Southern Nevada's tourism economy, they say. Southern
Nevada is missing out on many entertainment acts and athletic events because
of the lack of a large venue.

A new stadium also would solve a longtime problem that has vexed the University
of Nevada, Las Vegas: the lack of a stadium close to campus that would boost
student support and advance the prominence of an athletic program with major-
conference ambitions.

Attracting the Raiders to Las Vegas, in the eyes of supporters, would be icing
on the cake. The venue can be a success without an NFL tenant, stadium backers
say. But it sure would be nice for Las Vegas to join that elite club of cities
that have a team in the nation's most popular team sports league.

Steve Hill, director of the Governor's Office of Economic Development and
chairman of the committee tasked with forwarding recommendations on tourism
infrastructure improvements to Gov. Brian Sandoval, said the financing package
is so complex that he expects at least two more meetings after Thursday's session
to complete it.

OPTION CALLS FOR 54-46 SPLIT

When Las Vegas Sands and Majestic Realty rolled out plans to build a stadium on
42 acres just east of the MGM Grand at Tropicana Avenue and Koval Lane, they
hired Conventions, Sports & Leisure International of Plano, Texas, to guide the
committee through possible financing options.

Bill Rhoda, president of CSL, has presented details of those options and has
shown how stadium developers in other cities have financed their projects.

CSL has worked on 31 professional football stadiums since its founding in 1988,
including the new homes of the NFL's San Francisco 49ers and Minnesota Vikings.
Closer to Las Vegas, the company also worked on Aces Ballpark, the minor league
baseball stadium in downtown Reno.

On the table in Las Vegas is a public-private partnership calling for $750
million from the public and $650 million from the private sector, or a
54 percent-46 percent split.

From the private partners would come a $500 million contribution from the
Raiders -- $300 million of that in the form of a loan from the NFL -- and $150
million from casino operator Las Vegas Sands and Majestic. The exact sources of
the $750 million in public money remains unsettled. That's where much of the
detail work remains.

The key question: Is the deal fair to all parties?

Rhoda identified 46 annual events at the stadium if the NFL is in the mix.
They include 10 home NFL football dates (two preseason and eight regular-season
NFL games), six UNLV football dates, two college football bowl games (including
the current Las Vegas Bowl), two neutral-site college football games, two soccer
events, four rugby events, three motorsports events and one top-draw boxing
or mixed martial arts event.

Hill said the number of events staged will drive the economics.

"Do we think we can get to 46? What we'll probably do is carve 10 events out and
see what that looks like and then carve another 10 out and see what that looks
like," he said. "We have to stress-test the model, maybe take it from 46 to 20
or somewhere in between and get a range of potential outcomes."

Guessing right on the number of events the stadium could hold is critical to
determining return on investment and whether the amount of money plowed into
the facility would be worth it to taxpayers, who stand to see less money available
for schools, roads, parks and other projects tax revenues currently support.

But the upside would be more money for those needs and projects if the stadium
does what proponents say it will.

ANSWERS NEEDED BY JULY 31

CSL estimated an average turnstile attendance of 40,000 at those 46 events,
resulting in an estimated 1.8 million visitors and 845,000 new hotel room nights.

The CSL report noted that spending by visitors at events consists of in-stadium
spending on tickets, concessions, merchandise and parking, as well as out-of-
stadium spending on lodging, food and beverage, shopping, entertainment,
transportation, gaming and other services. The report estimates per-capita
out-of-stadium spending by overnight visitors at $642 per person per day, and
65 percent of out-of-stadium visitor spending is considered "net new” -- it
would not be spent without the presence of the stadium.

When the committee meets Thursday, it will dig into four pages of detailed
questions the group wants answered before buying into public stadium support.
Among them: Is the UNLV site an appropriate location? What portion, if any, of
the cost should be paid by the public? What happens if stadium revenues fall
short? Is it reasonable to expect 46 events per year?

The committee is working toward a July 31 deadline to make its recommendations.
A $1.4 billion Las Vegas Convention Center expansion project and several transit
proposals are also under consideration.

"I think wrapping something up (on the stadium) before July is not possible,"
Hill said. "I've even asked the committee to reserve a date between the June
and July meetings to continue to work on it."

In addition to determining whether the existing tax structure pencils out as a
wise return on investment, the committee probably will look at whether the
Legislature should be asked to increase tax rates on existing services. Committee
members already have indicated they have little appetite for bumping up taxes
that would directly affect local residents, especially because locals would
pay more through the live entertainment tax if a stadium is built.

WHERE DOES BURDEN FALL?

In theory, generating tax revenue through hotel room and rental car rates shifts
most of the burden to visitors, though residents occasionally rent vehicles or
land in resorts for "staycations." But for entertainment events, there is no
chance for locals to dodge the live entertainment tax currently imposed.

County hotel room and car rental tax revenue is expected to climb, as would
their corresponding state revenue: sales taxes, gaming taxes (officials anticipate
sports fans would tend to gamble) and the state modified business tax, since new
employees would be hired if the stadium is built and an NFL team were to relocate
here.

There appears to be room to increase the room tax. Between the state and the
county, the hotel room tax is at about 12 percent, just under Orlando's 12.5
percent rate and Phoenix's 12.57 percent. And it's well below New York's 14.75
percent rate, Dallas' 15 percent, Chicago's 16.39 percent and Houston's 17 percent.

Committee members also could ask the Legislature to form a tax-increment
district. The boundaries of a special tourism taxing district would be open to
debate. Would it include only the stadium site's 42 acres or would it include
property around it? And if so, how far from the stadium would the district extend
to grab revenues from businesses that would benefit from proximity to the stadium?

The CSL report suggested a TID to last 65 years and feed a stadium authority, which
would operate much like the Las Vegas Convention and Visitors Authority, to build
and manage the facility.

The committee will also look at how new stadiums have been funded. They include:
* U.S. Bank Stadium, which this year will open as the home to the NFL's Minnesota
Vikings. About 45 percent of the 68,500-seat stadium's $1.1 billion budget is
being covered by taxpayers, with Minneapolis residents seeing a half-percentage-
point increase in the sales tax and as much as a 3 percentage-point boost in
taxes on liquor, lodging and restaurants through 2046. The state also authorized
a tax exemption on construction materials for the stadium, which is also exempt
from property taxes.

* Mercedes-Benz Stadium in Atlanta, where the public is contributing only 16
percent of the cost of the $1.5 billion, 71,000-seat home of the Atlanta Falcons,
to open in 2017. The Georgia General Assembly in 2010 approved the extension of
a 7 percent tax on motel and hotel rooms through 2050 contingent on 39.3 percent
of the revenue being used to build the stadium.

* Levi's Stadium, home to the San Francisco 49ers and host of February's Super
Bowl 50, cost $1.3 billion to build and seats 68,500. Only 1 percent of the cost
was publicly financed. The city of Santa Clara, California, contributed $11
million. Prepayment of luxury boxes supporting a Goldman Sachs-led loan from
17 lenders covered most of the bill.

Examining those projects and others may generate new ideas, but the core issue
in Las Vegas is whether the stadium plan is fair and whether the public will
share the benefits if the stadium is a roaring success.

"This should be a business conversation, an economic conversation," Hill said.
:So far, what we've talked about is more conceptual than getting into real
detail -- what's the projected return on investment from the private side and
what's the economic benefit to the community for the public side and how to
determine the definition of 'fair' and, separately, 'smart?' "

"I think what you'll find is that if we get 40 to 50 events, the stadium becomes
pretty lucrative for everybody involved. We have to ask the question about the
potential for the public to share in the upside. Early on, they (developers)
said no, but that needs to be aired because the truth is that if it's very
successful, the return on investment will be very high. It would help to buy
down the public investment."

--------------------------------------------------------------------------------
Tim Leiweke's NFL connections help Las Vegas' case for a team

By MATT YOUMANS
LAS VEGAS REVIEW-JOURNAL

Everything unfolded in slow motion in Los Angeles, so Tim Leiweke is ready to
punch the fast-forward button.

"I spent almost 10 years chasing the NFL in L.A.," he said. "This is a guy who
got beat up for 10 years."

Leiweke laughed and called it "shocking" how quickly Las Vegas could land an
NFL franchise.

In just a few months, with Leiweke in the middle of the action, the Raiders'
potential relocation from Oakland to Las Vegas has moved from an entertainment
topic to serious business. If a stadium is built and the whirlwind plan becomes
reality, Leiweke will play an integral role.

Much of his career has been about making arena and stadium deals. The former
CEO of Anschutz Entertainment Group, Leiweke led the Staples Center project
in Los Angeles before striking a deal with MGM Resorts International to construct
T-Mobile Arena on the Strip. He also had a brief run as president of Maple Leaf
Sports and Entertainment in Toronto before resigning.

Leiweke, now the CEO of Oak View Group, an L.A.-based entertainment advisory,
development and investment company, adds credibility and influential connections
to the Las Vegas stadium drive, which will be discussed at 8 a.m. Thursday by
the Southern Nevada Tourism Infrastructure Committee at UNLV's Stan Fulton Building.

A proposed $1.4 billion, 65,000-seat stadium near the Strip would be funded
through a public-private partnership including the Raiders, Majestic Realty and
Las Vegas Sands Corp., which is using Leiweke as a consultant to help lead the
campaign.

"There is such a huge need in the marketplace for a stadium. It's the one thing
that city's missing," Leiweke said. "It's easily justifiable. We've got to get a
deal that makes sense to everybody.

"The deal can get done. It's all sitting right there. It's shocking."

How well-connected is Leiweke? His younger brother, Tod, was named chief operating
officer of the NFL in July.

Tim Leiweke also has years of experience working with NFL commissioner Roger
Goodell and Eric Grubman, the league's executive vice president of business
operations. Grubman, who was intricately involved in the Rams' relocation from
St. Louis to Los Angeles early this year, is closely monitoring the situation
with the Raiders and Las Vegas.

It's fair to assume Tim Leiweke's connections could help Las Vegas gain favor
in the NFL's front office.

"It's not just one relationship, and not just a blood relationship," Tim Leiweke
said. "I have a very good relationship with Eric, with Roger and with a lot of
the owners. The NFL is more aligned with this than you would think."

Leiweke's company played a role in a major venue announcement this week. Las
Vegas Sands and The Madison Square Garden Co. are partnering with Azoff MSG
Entertainment, Live Nation Entertainment Inc. and Leiweke's Oak View Group to
build a 17,500-seat off-Strip venue designed for live music performances.

As we navigate this whole stadium issue and the NFL, Tim's input has been
insightful. He's a real value add,"said Rob Goldstein, president and chief
operating officer of Las Vegas Sands. "He's a straight shooter, and he doesn't
say things he doesn't back up. We think there's a real chance this is going
to happen."

Las Vegas' sudden emergence as a potential NFL city is not a mirage in the
desert. It was one of the biggest topics of the NFL Spring Meeting on Tuesday,
when team owners and league executives gathered in Charlotte, North Carolina,
to discuss future Super Bowl sites, rules changes and the future of the Raiders.

Tim Leiweke's focus is on the financing strategy for a stadium in Las Vegas.
He called Thursday's meeting of the tourism infrastructure committee "critical"
in terms of advancing the project.

The current proposal calls for $750 million from the public and $650 million
from private sources. The Raiders would contribute $500 million, including a
$300 million loan from the NFL, with Las Vegas Sands/Majestic Realty adding
$150 million. The revenue sources for the $750 million public contribution must
be decided by the Nevada Legislature.

"My guess is this gets closer to a 50-50 partnership when it's all said and
done," said Leiweke, adding "there is room" in Las Vegas' hotel tax rate of
around 12 percent to draw more tax money from tourists.

"I think there's a fairly reasonable concept on how to fund it, and it doesn't
cost the people of Las Vegas any additional money," said Leiweke, who is
assisting retired soccer star David Beckham in a plan to build a stadium
in Miami. It's not increasing taxes on the people who live there.

"The only way it doesn't happen is if people turn down the deal for whatever
reason, and I don't see that happening. There is real momentum for this."

Leiweke said he estimates the Las Vegas stadium could host "50 to 60, maybe
more" events per year, including eight regular-season games and two preseason
games for the Raiders. It also would be the new home for UNLV football.

"I've been doing this a long time, and I'm actually really optimistic,"
Leiweke said. "I am pleasantly surprised. I think things are coming together.
There is a real opportunity here."

The Review-Journal is owned by the family of Las Vegas Sands Chairman and CEO
Sheldon Adelson.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893.
Find him on Twitter: @RickVelotta
Contact reporter Matt Youmans at myoumans@reviewjournal.com or 702-387-2907.
Follow on Twitter: @mattyoumans247

[Hacksaw]

Leiweke was pining for the Rams when he was the head of AEG. Saw him holding a Rams jersey in one shot with his name on it. He was a former Nugget's executive and ESK was his boss.
TL might help with this Raider/Vegas thingy but I guess his allegiances run thin. $$ talks don't it?

[Elvis]

[Elvis]

http://www.sportingnews.com/nfl/news/oa ... ewep0fzst4

Just Oakland's luck: Las Vegas wins again in Raiders relocation saga

May 25, 2016 8:38am EDTMay 25, 2016 8:38am EDT

By Tadd Haislop
@taddhaislop

Published on May. 25, 2016

CHARLOTTE, N.C. — This is nothing new. Las Vegas has a history of capitalizing on others' misfortune.

The unlucky party in this case is Oakland football fans. After Tuesday's NFL owners' meetings in Charlotte, N.C., the NFL's rumored Sin City temptation feels more legitimate than ever. Raiders owner Mark Davis' pledge of allegiance to southern Nevada should tell you all you need to know on that front.

But those hapless Oakland fans can't blame Davis, the organization or the league. The NFL wants to stay by the Bay, and with good reason.

"The Bay area is such a dynamic market," Rams owner Stan Kroenke told Sporting News after Los Angeles, his team's new home, was awarded Super Bowl LV in 2021. "If you look at demographics around the league, over the next 10 years, the East Bay/San Francisco/San Jose area will grow more than any other NFL market. I think if Mark (Davis) can put together a deal up there, I think he'd rather stay there. I would rather have them stay there if that’s their preference."

This has never been about the lure of Vegas alone; it's about the lure of Vegas in the context of Oakland's inability to and/or disinterest in funding a new stadium. Davis has tried — although some argue otherwise — but, to this point, he has failed.

"The Raiders have been very open about the challenges of getting a stadium built," NFL commissioner Roger Goodell said. "It’s not fair to shift all of that responsibility to the Raiders — they bear some. But public officials, the private sector, the Raiders, the NFL, we all have a responsibility.

"We have given, from an ownership standpoint, another $300 million to support a stadium built in Oakland. We believe in that market. I know Mark Davis does. But there has to be a solution. It’s been a long time coming. We will play our part, and I know the Raiders will, also."

In other words, the Raiders and the NFL basically are trying to sell a luxurious condo to a college kid who lives in a run-down studio apartment for a reason. And the offer of first month's rent for free still doesn't make the investment practical enough.

Despite an apparently solid faction of Raider fans in Vegas and an opportunity for the league to bring unprecedented sports relevance to the desert, the city is not more attractive than the region the team currently occupies. "New" and "exciting," as Davis called the potential move? Yes. But that might be where the positives end.

One of the NFL's better, more distinctive and loyal fan bases stuffs the hell hole that is O.co Coliseum on a weekly basis during the season. Combine the Raiders' suddenly positive outlook with the success of their next-door neighbors in Oracle Arena, and those fans could be on the verge of arguably the happiest of sports times in Oak Town.

Raiders fans embrace their heroes after a win over the 49ers in 2014. (Getty Images)

The 49ers' move south from San Francisco to Santa Clara, Calif. a couple years ago gave the Raiders roughly 40 miles of breathing room with which to further solidify their local support. It also means a Raiders move would leave a void in the northern Bay Area that hasn't existed since 1946, when the Niners were established . . . just in time for the growth that Kroenke referenced.

While it's far from perfect — such a transient city hardly is fertile ground for rabid support — Vegas does present the most ideal alternative location for the league.

Naturally, Goodell recommends caution. In combating Davis' said "commitment" to Vegas as long as "they come through with what they’re talking about doing," the commissioner referenced the gambling issue and logistics as reasons presumptions of a move are "premature at this point."

But the owners' song of sports gambling acceptance is in full crescendo. Kroenke, another influential owner who happens to know a thing or two about relocation, echoed the chorus of the Cowboys' Jerry Jones and the Patriots' Robert Kraft.

"I think it has been evolving," Kroenke said of sports betting's perception in the United States. "Where it was 25 years ago is not where it is today. We own a football club in London — Arsenal — and over there, gambling is treated differently. People come to stadiums; they bet on who scores first and all these different things. They enjoy it and engage in it; they haven’t had any problems. I think they, too, have evolved, and I think it’s accepted among the fans.

"I think there’s more comfort as things move along, more clarity. When you look at all the methodologies involved in games of chance nowadays, it’s a different environment."

For the fans in Oakland, those words are exponentially more terrifying than "First-and-goal, Broncos," or even "After reviewing the play, the quarterback's arm was going forward; it is an incomplete pass."

The Raiders' need for a new home happened to come in the midst of an apparent NFL relocation interest phase. (Stay tuned, London and Mexico City.) It happened to come right when the team seems capable of winning its division for the first time since 2002. That's bad luck.

Or, maybe, it's just Vegas.

[Elvis]

Kroenke has been reading my posts. The Bay Area is a hell of a market to be walking away from...

[Elvis]

http://www.legalsportsreport.com/10181/ ... ign=buffer

Nevada Sportsbooks Continue To Blow Away Records With Massive Handle In April

Dustin Gouker, May 26, 2016 07:48 PDT@DustinGoukerApril numbers Nevada sports books betting


Nevada sportsbooks set yet another monthly record for sports betting handle, with just under $300 million in wagers flowing through operators in April.

The top-line look at April sports betting

All Nevada books combined to take in about $292 million in sports bets last month, according to data released by the Nevada Gaming Control Board.
That easily eclipses any April on record. According to historical wagering data from the NGCB:

Handle was up nearly $40 million year over year; books took in about $250 million last April
Handle is up over $100 million in a three-year period: books took in about $190 million in April of 2013.
It was also another positive month in terms of revenue for sportsbooks, who generated $13.5 million in revenue. A dent of $1.7 million was put in that figure by old football tickets that are still being cashed in.

According to ESPN sports betting writer David Purdum:



Baseball coming online helps Nevada numbers

The first full month of baseball helped handle and the bottom line for sportsbook operators.

Wagers were almost evenly split between basketball and baseball: $130 million in handle on the former (NBA and NCAA), and $124 million on the latter.

Baseball was hot to bet on this past month compared to last April: About $30 million more in wagers were placed on Major League Baseball than last year.

MLB was also the biggest source of profit, with books taking $8 million on baseball, for a hold of 6.4 percent.

Sportsbooks continue their recent roll

This year continues to show a consistent upward trend for Nevada sportsbooks:

Handle was up about $50 million year over year for March.
February and January were record months for handle, as well.
All of that came after a banner 2015, which featured $4.2 billion in handle.

[Snow Man]

I would rather see the Raiders in Vegas and the Chargers in L.A. But then I live in St. Louis and misery loves company.

[BuiltRamTough]

I'm going to Vegas in July for my bday. I'm staying at the Cosmopolitan.

Anyways, I'm going to check the odds and bet a few hundred on the Rams winning the Super Bowl. I do that every year. No joke.

Basically my bet is on Jared Goff.

[Elvis]

I'm going to Vegas in July for my bday. I'm staying at the Cosmopolitan.

Anyways, I'm going to check the odds and bet a few hundred on the Rams winning the Super Bowl. I do that every year. No joke.

Basically my bet is on Jared Goff.

Did you make that bet in '99?

[Elvis]

This is pretty much my take, from:

https://www.bostonglobe.com/sports/patr ... story.html

The Raiders have a one-year lease at O.co Coliseum and two one-year options, as well as the opportunity to join the Rams in Los Angeles if the Chargers decline. But as one NFL insider explained to us, the Bay Area has much more value for the NFL than does Vegas, and the best option is clearly for the Raiders to stay put.

The Bay Area is the nation’s sixth-largest TV market, while Vegas is 42d, and the Bay Area obviously has a ton of corporate wealth and valuable business partnerships. The 49ers already represent the region, but they now play in Santa Clara, located near San Jose on the southwest corner of the bay, 43 miles from downtown San Francisco. O.co Coliseum is only 17 miles from San Francisco, and the Raiders have a great opportunity to capitalize on the North Bay fan base.

NFL owners haven’t studied the Las Vegas market yet, they haven’t looked at any stadium or relocation plans, haven’t studied the adverse consequences of having a team located in the gambling capital of the country, and overall have no idea if the move is a viable option. The far more realistic and beneficial situation for the league remains the Raiders getting a deal done in Oakland.