The $1.8 billion Las Vegas stadium that will become home of the NFL Raiders next year is adding 20 additional suites in hopes of better appealing to the league to win hosting rights for an upcoming Super Bowl.
Officials overseeing construction of the Las Vegas stadium have big dreams for the domed venue located just west of the Strip and I-15. (Image: Las Vegas Review-Journal)Las Vegas Stadium Co. Chief Operating Officer Don Webb updated the Las Vegas Stadium Authority (LVSA) last week on construction progress. The COO said the 65,000-seat domed facility is 44 percent completed, and is on schedule to welcome the NFL franchise for the start of the 2020 regular season.
Webb revealed that the operating budget is increasing by $40 million, but he says that s a good thing.
This is good news, Webb explained. Normally a person in my position reporting to a public body such as yours has the unenviable task of telling you why the project is over budget because costs weren t properly accounted for. That s not what this is about.
Sales for suites have exceeded expectations, and roughly 85 percent of the total seats have been sold. Around $8 million will be spent to add the 20 suites, which will replace a few hundred regular seats planned for the south end zone.
Super Bowl GambleLas Vegas stadium officials are betting on attracting new crowds to Southern Nevada. The state is using $750 million in tax money generated by hotel occupancy stays in Clark County to help fund the project.
It s good for the Super Bowl, Raiders President Marc Badain said. The more suites you have, the better opportunity you have to bid for the Super Bowl. We wanted to be responsive to the NFL, as we re working on a bid for the 2025 Super Bowl.
Long opposed to Las Vegas due to the city s widespread legal sportsbooks, the NFL has since eased its opposition to Sin City in wake of the Supreme Court s repeal of the federal ban that prohibited the gambling activity outside Nevada.
With the Raiders relocating to the gambling capital of the US next year, hope the venue can play host to marquee events such as the Super Bowl and College Football Playoff National Championship.
The NFL requires Super Bowl venue candidates to offer modern amenities, and be located in a region where the number of available hotel rooms within an hour s drive is a minimum of 35 percent of the stadium capacity. That is of course no problem for Las Vegas, as the town is home to 149,000 hotel rooms.
Budget IncreaseThe remaining $32 million after the $8 million allocation for the suites will be used for upgraded fixtures and art ($10 million), upgraded technology and communication features inside the stadium ($4 million), extended internet capabilities and security enhancements ($4 million), seating upgrades ($2 million), and restroom facilities outside the venue ($2 million).
Developers are also adding a 26,000-square-foot club level area with an 800-person capacity at a cost of $10 million.
The Raiders are paying for the $40 million in overrun costs.
