Nevada Approves Record $750 Million Subsidy for NFL Stadium
Nevada lawmakers authorized a $750 million tax incentive to entice the National Football League’s Oakland Raiders to move to Las Vegas, a record subsidy for a stadium.
The bill’s passage gets the Raiders a step closer to a move, though there are still hurdles to surmount, including approval by the league. Las Vegas Sands Corp. founder Sheldon Adelson proposed the stadium, which will have a total cost of $1.9 billion. He’s said he’ll invest $650 million of his family’s money in the project. The Raiders, controlled by Mark Davis, will contribute $500 million. The public portion of the funding will come from a dedicated tax on hotel room stays. – READ MORE