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Moody’s Offers Positive Forecast for Las Vegas Stadium

Las Vegas Stadium rendering

Once it opens, the new Las Vegas Stadium for the Oakland Raiders should be a boost to the local economy, according to a report from Moody’s Investor Service

The Las Vegas Stadium is currently expected to open in 2020, with the relocating Raiders and the UNLV football program set to play home games there. Along with helping to provide Las Vegas with its first NFL franchise, the stadium could serve as a host to major events outside of gamedays.

That is a positive factor in its contribution to the local economy, according to Moody’s. In a recent report, Moody’s noted that if the stadium is able to draw events, it could help attract more visitors–and effectively more revenue–to the region. More from The Las Vegas Review-Journal:

“Clark County expects the new NFL stadium will be a notable new draw for consumers and visitors,” Moody’s Patrick Liberatore wrote, adding that the stadium and upcoming expansion of the Las Vegas Convention Center should allow the city to host larger events and diversify visitor draws.

“In addition to professional football, the approximately 65,000-seat stadium will compete to attract other large-scale sporting events and also provide the Las Vegas area with its first major facility that can accommodate other large-scale events, like major music tours,” Liberatore wrote.

But other groups, like the Nevada Policy Research Institute, have a less favorable view of the taxpayer-funded venue.

“If the Raiders stadium deal was a truly compelling investment, there would have been no need to rely on taxpayer dollars in the first place,” communications director Michael Schaus said. “The best way to create sustained economic growth would have been to keep that $750 million in the pockets of Nevadans, rather than subsidizing a billionaire’s private NFL team.”

Part of the funding package for the $1.8-billion stadium project includes $750 million in public funds, with that money raised through a hotel tax increase.

The stadium, meanwhile could end up landing marquee events, with a future Super Bowl likely one option that will be discussed in the coming years. The NFL has already announced Super Bowl sites through 2022, with the hosts of games beyond that period still to be determined.

Rendering courtesy MANICA Architecture. 

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