Vegas Stadium Authority approves $546M fiscal year budget

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The board overseeing the $1.8 billion Las Vegas stadium project has approved a $546 million budget for the fiscal year beginning July 1.

The Las Vegas Review-Journal reports that board votes on Wednesday included agreements to better account for funding the 65,000-seat domed stadium being built near the Las Vegas Strip.

Stadium Authority Chairman Steve Hill says about $2 million is budgeted for authority operations, and any end-of-year surplus will be used to pay down debt.

As of March, a less-than-1 percentage-point increase in Clark County’s hotel room tax generated $53 million in revenue. That’s about 4 percent ahead of projections for the 13 months it has been in place.

The NFL Oakland Raiders plan to move to Las Vegas to play at the stadium beginning in 2020.
 

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