The Nevada Legislature approved a financing plan for the Oakland A’s proposed $1.5 billion stadium on the Las Vegas Strip, sending the measure to the governor’s office for his signature.
Plans are also subject to a vote on the A’s relocation by Major League Baseball’s 29 other owners, which is likely a formality according to several media reports. A’s officials have previously said they are scouting interim sites for play in the Las Vegas region starting in 2025, ahead of a targeted 2027 completion of a 30,000-seat ballpark on a portion of Bally’s Tropicana Las Vegas property on the Strip.
The A’s and the team’s development partners said the stadium financing deal will further establish Las Vegas as the new “entertainment and sports capital of the world.” The city previously brought in new professional sports development by the NFL, NHL and Formula 1 auto racing.
The plan calls for $380 million in public funding, including $180 million in transferable tax credits and $120 million in county bonds to be paid off through a special tax district that includes the planned stadium site. The A’s and its legislative backers said the plan would not directly raise taxes on Nevada residents, with bond payments and interest to be financed through revenue generated by stadium operations.
Wednesday evening’s 25-15 approval vote by the Nevada Assembly followed Tuesday’s approval by the state Senate. The measure next goes to Gov. Joe Lombardo, who is expected to sign it into law after he was involved in crafting the latest funding plan and called the special legislative session in which the bill was approved.
Legislative approval came even after the plan came under scrutiny from some lawmakers who were hesitant to commit public funds to a privately run sports venue. Other pro sports projects nationwide have encountered similar opposition, and most stadiums completed in the past few years, in cities including Dallas, Los Angeles and San Francisco, have been primarily privately financed.
Cities increasingly are looking to turn sports venues into larger mixed-use developments that can generate year-round social and business activity. A new Las Vegas ballpark is expected to bring about 400,000 new visitors annually to the city and provide a boost to the regional economy, according to consulting firm Applied Analysis, which has advised the A’s.
The A’s and the team’s development partners — casino giant Bally’s and Gaming & Leisure Properties — are expecting a new stadium to bring significant new commercial development to one of the Strip’s busiest intersections at Las Vegas Boulevard and Tropicana Avenue.