Las Vegas Sands Proposes $1B Domed Stadium

February 1, 2016

The Las Vegas Sands Corporation says it will lead a consortium of investors planning to build a $1 billion domed stadium on 42 acres near the University of Nevada, Las Vegas that would house the school's football team — and possibly a National Football League franchise.

The proposed stadium is only a concept at this point, with Los Angeles-based Majestic Realty Company and UNLV the primary stakeholders. UNLV bought 42 vacant acres along Tropicana Avenue earlier this month and wants to move its football program from the aging Sam Boyd Stadium to a new facility closer to campus. A donation through the UNLV Foundation covered the $50 million site purchase.

This is not the first time Las Vegas has sought to bring a NFL team to the city and the proposal will need to address funding issues as well as NFL regulations.

None the less, Mark Davis, owner of the Oakland Raiders, is scheduled to meet with Las Vegas Sands Chairman and CEO Sheldon Adelson, and team representatives are expected to tour the site Friday.

Ready to place your bets? Read more about the proposal here.

Source: Las Vegas Review-Journal

Image: Colliers