For those of you following the progress of the proposed Raiders Stadium in Las Vegas, it looks like it's almost a done deal. After a week of deliberation, Nevada Senate passed a deal that could clear the way.
The big hurdle was, of course, money. Everyone wanted the stadium, it would be great for Las Vegas, create hundreds of jobs and boost our tourism and convention industry, but with a $1.9 billion price tag, no one was jumping up to cover the cost. More specifically, a remaining $750 million that was proposed to be subsidized by public funding.
After the senate session last week, these were the terms that were agreed upon:
Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson will contribute $650 million
Raiders will kick in $500 million…