Las Vegas Sun article on new stadium/Adelson

[IMReb]

Interesting article. New editor of the Adelson owned Review Journal says they have an owner with "pockets as deep as the Grand Canyon" to help expand the RJ. However, those pockets seem to be as deep as the Flamingo wash to build a stadium. I would love a stadium, but nobody is going to fund $780 million in public funds. Last time there was a lot of noise about funding $420 million with the LasVegasNow! project. I think for this project to have legs Adelson must fund $800 million with public funding around $400 million, or it probably goes nowhere. Might not even go anywhere with $400 million in public funding. Adelson and Wynn will probably tie event ticket purchases to rooms in their hotels. Maybe they should put up $500 million each and the public put up $200 million. UNLV already put up $50 million for the land. I'd bet every penny I have that this deal will not fly with the current $420/$780 million current proposal.

http://lasvegassun.com/news/2016/feb/05/sheldon-adelson-the-nfl-and-las-vegas-a-perfect-ma/

Moyer: "We have an owner with pockets as deep as the Grand Canyon, and we're going to take advantage of that"

 

[bcvegaspt]

Sounds like a hit job to me. How has the relationship between the Greenspuns and Adelson been?
Answer that next time you read an article from the Sun regarding this deal.

In regards to UNLV the Sun has been very supportive (as far as I've seen). So I'm not saying that they are anti- everything.

 

[RebboBiscuit]

Expect more of it. LVCVA and MGM going to be very vocal against it, while others will be very vocal for it.

 

[Rebel1986]

Just need to make sure we remind everyone that the MGM company has a huge debt load and is only 1 step away from total collapse. Considering their financial situation, nothing they say should be considering within any real weight behind it.

 

[RebelinWA]

Mgm's thinking is the same logic that drove Mark Gastineau into boxing. Greedy bastards.

 

[Rebelbacker]

The "public funding" is going to be on the backs of tourists, not locals. Keep that in mind.

 

[bcvegaspt]

The "public funding" is going to be on the backs of tourists, not locals. Keep that in mind.

But "locals" don't see it that way. The media (except for the RJ) are saying it will be public funds that can go to schools, etc. the recent Sun article even said how NV ranks one of the worst in education (or whatever propaganda they spewed) to sway the readers.

They don't clarify that those public funds are from tourists in order to calm the reader. They just sensationalize so as to get more clicks on their webpages.

 

[RBMAN]

Mgm's thinking is the same logic that drove Mark Gastineau into boxing. Greedy bastards.

Why don't they just take the $10.00 they are going to charge people to park (While spending money in their resorts)and donate it to fund projects if they are so worried about overloading fees on tourists?

 

[RebelinWA]

They're a sinking ship. They need the 10 per night/ 17 per overnight valet to help right the ship. They are counting on the stadium to help prop up its own core of hotels. If they linked excalibur monorail system to the aria's with a stop at the hockey stadium and then had a branch leading to mgm/ the rebel stadium they would only help drive business. Two large multiplexes that are linked via monorail could do well for super large events like CES/ cyma/ magic show/ concrete show/ construction/the rodeo etc. that are struggling for space as it is.

 

[LasVegasReb]

Expect more of it. LVCVA and MGM going to be very vocal against it, while others will be very vocal for it.

In regard to LVCVA, is this your opinion or inside information? MGM is a no brainier but I would like to know how people know LVCVA is against it.

 

[Rebel1986]

I can tell you that the LVCVA authority is definitely against it. Sheldon has a really bad past history with the LVCVA which has included numerous lawsuits. This included one lawsuit to get the cell phone records of all the LVCVA employees to verify they were not being used for any private conversations (have a family member that worked for LVCVA). That is stupid because you would use your work cell phone to also make personal phone calls home, etc. He has also had dozens of other legal battles with the LVCVA over the years. That is now why they use there own phones and get paid back for there use instead of ones supplied by the LVCVA.

Currently Adelson competes with the LVCVA for convention business and they are in the middle of a huge upcoming expansion that would compete with the Sands Expo for business. The 2.3 billion dollar expansion would come from the same funds that Adelson is trying to get for the new stadium. Just connect the dots and that is why Adelson wants to divert the money from the LVCVA to the stadium project.

http://www.travelweekly.com/travel-...-buys-riviera-for-convention-center-expansion