The legislature has approved a 1.9 Billion dollar Stadium, and the Raiders football team is coming to Las Vegas.
The stadium financing goes like this – $650 million from Nathan Adelson –casino billionaire, $500 million from the Raiders ($200 million of that from an NFL loan) and a $750 million public investment (hotel room tax).
Proponents of this rolling cluster-fuck say that it will bring in 451,000 new visitors, bringing us an additional $620 million every year. Of coarse Stanford professor and sports economist Roger Noll, says the deal as a boondoggle based on outlandish financial expectations.
The problem as I see it is that most serious sports fans can go to stadiums that are much closer to home. And a lot of those stadiums have turned out to be total boondoggles that profited only the local politicians and their pet contractors.
If the Raiders suddenly starts winning every game, the cost of running a goliath like a stadium with it’s utilities and maintenance is outrageous.
The politicians and their cronies always win.