By Alan Snel, LVSportsBiz.com Publisher-Writer
LAS VEGAS, Nevada — After nine months of dropping hotel room tax revenues used to pay off the public debt on the Raiders football stadium, a Las Vegas Stadium Board report shows an increase in room tax money starting in February and March of this year.
February’s hotel room tax money bumped up 4.3 percent to nearly $5 million, while March’s hotel room tax dollars were up 14.4 percent to $6.16 million over the numbers from same months a year ago.
Last year’s tourism drop meant decreased hotel room tax dollars to help pay off Southern Nevada’s debt on the money borrowed to pay for the public $750 million contribution to build the Raiders’ stadium. Southern Nevada still has more than $1 billion to raise to pay off the debt on the $750 million contribution that helped build Raiders stadium. That stadium has helped Mark Davis’ Raiders appreciate in value by billions and billions of dollars.
Take a look at the February and March turnaround:
The hotel room tax revenue report is part of the information to be presented at Thursday’s Las Vegas Stadium Board meeting at 3 PM at the Las Vegas Convention Center.
The A’s stadium entertainment district is even collecting money to help pay off the public debt on that baseball stadium that is slated to open for the 2028 MLB season. That district has collected more than $2 million so far.
PSA