The stadium that is being considered by the University, by the political establishment, and by the casinos is really a very good idea.
Las Vegas is in a very unique position. We can have events that no other city can have.
Let’s say for example that we invite Barcelona in Spain and Chelsea in Britain to play a soccer match in Las Vegas. That would bring plane loads of Spaniards and English people to spend 5000 dollars on a visit to Las Vegas. What other city could do that? We can, because people all over the world want to
However, this stadium should be constructed by those who will benefit from the construction: the Raiders, the casinos, and the tourism industry. Instead of suggesting that, however, the Governor’s blue ribbon committee of casinos and politicians have handed you and me the biggest share: $750,000,000 just for starters.
That’s almost the exact amount that has just been artificially added onto the original $1.1 billion estimated cost, but even that amount is sure to increase. The public’s contribution is NOT capped and the tax will not sunset after the $750,000,000 is collected. All this is happening while the other giant casino corporations (MGM, Caesar’s, Wynn, Boyd and Stations) sit on the sidelines without contributing one penny, but waiting for the money to roll in.
Even worse, the stadium itself will be owned by the county, while the business will be owned by the Adelson family. And, a new government agency will be created, on the model of the Water Authority, to manage issues related to the stadium. If it is run anything like the Water Authority, the public can know right now that it will characterized by lies, massive costs and a never-ending need for more public money.
Even talking about this deal is dangerous for the public; actually combining public and private interests in this manner will be a sure disaster. The stadium should be privately financed, built and owned.