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By Alan Snel, LVSportsBiz.com Publisher-Writer
LAS VEGAS, Nevada — LVCVA CEO Steve Hill said ticket revenues from two major events at Allegiant Stadium — WrestleMania in April and the Canelo-Crawford boxing match in September — should make the NFL Raiders stadium the top U.S. grossing stadium in Billboard magazine’s rankings.
Hill made his comments during the Las Vegas Convention and Visitors Authority (LVCVA) board meeting Tuesday.
The stadium also hosts concerts and is run by the Raiders. The NFL team moved from Oakland to Las Vegas because the Nevada Legislature approved a stadium financing bill in 2016 that designated $750 million to help the Raiders build the domed stadium on the west side of Interstate 15 across from the Mandalay Bat hotel-casino. The stadium construction budget was $1.4 billion — the biggest part of the stadium’s $2 billion overall project cost.
Southern Nevada still has more than $1 billion in public debt to pay off on the $750 million public contribution to the football stadium’s construction budget.
After the meeting, Hill said he liked the Bally’s Corp. site plan for hotel development and other entertainment/retail uses.
Hill also chairs the Las Vegas Stadium Board, which oversees the stadium construction on nine acres of the 35-acre site that used to house the former Tropicana hotel-casino at the southeast corner of Las Vegas Boulevard and Tropicana Avenue. Clark County oversees the Bally’s hotel development issues on the site, which is owned by Gaming & Leisure Properties, Inc. (GLPI).
Hill compared the A’s stadium/Bally’s Corp. hotel development project site on the Strip to the Atlanta Braves stadium site that is also buffered by entertainment options.
Responding to an LVSportsBiz.com question about the LVCVA’s ambassador deal with the Las Vegas Aces players, Hill said the LVCVA’s payment of $100,000 to each Aces player a year to promote Las Vegas in social media posts is completing its second year and that extending the payments for another year are “still possible” but nothing is planned as of now. The Aces swept the Phoenix Mercury to win their third WNBA championship in four years and will have a title parade celebration on the Strip with a rally at the plaza outside T-Mobile Arena Friday.
PSA