{"id":45634,"date":"2017-02-22T18:00:05","date_gmt":"2017-02-23T02:00:05","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=45634"},"modified":"2017-02-22T14:37:56","modified_gmt":"2017-02-22T22:37:56","slug":"raiders-secure-financial-backing-vegas-move-following-adelson-blow","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/","title":{"rendered":"Raiders Secure Financial Backing for Vegas Move Following Adelson Blow Out"},"content":{"rendered":"

<\/b><\/i>The Oakland Raiders<\/a> has secured financial backing to build a new home in Las Vegas, just three weeks after Sheldon Adelson pulled his $650 million commitment to the project and Goldman Sachs followed him out of the door.<\/p>\n

\"Raiders
An architect\u2019s rendition of the proposed $1.9 billion stadium that may become the Raiders\u2019 new home in Las Vegas. Ground will not be broken until the NFL gives its approval, a feat that will require a four-fifths majority vote from team owners. (Image: MANICA Architecture)<\/figcaption><\/figure>\n

On Monday, Clark County Commission Chair Steve Sisolak confirmed rumors to FOX 5 that the Raiders had the backing of two unnamed banks, committed to filling that $650 million Adelson-shaped hole.<\/p>\n

The Nevada legislature has approved an increase on Vegas hotel taxes in order to shoulder the $750 million it has pledged to help build the $1.9 billion stadium. The Raiders themselves have pledged $500 million towards the project.<\/p>\n

Raiding Adelson\u2019s Pockets<\/b><\/h2>\n

Adelson, who has been instrumental in luring the Raiders to Vegas, pulled out of the deal on the 31st of January, immediately after the team\u2019s management took a proposed stadium lease agreement to the Las Vegas Stadium Authority without informing the Adelson family<\/a>. The lease made no mention of the Adelsons as a partner, an affront that was too much to swallow for the LVS chairman and CEO.<\/p>\n

\n

His spokesman, Andy Abboud, told the Adelson-owned Las Vegas Review-Journal <\/i>shortly after that the Raiders had been \u201ctrying to pick Adelson\u2019s pocket\u201d on the deal, and accused them of offering \u201cmixed signals\u201d on Vegas\u2019 suitability as a franchise city, possibly, said Abboud, as a \u201cmanipulation technique.\u201d\u00a0<\/strong><\/p>\n<\/blockquote>\n

But Vegas\u2019 suitability will ultimately be decided at the forthcoming NFL spring league meetings, where the proposal will need three-fourths of the vote to receive approval. That\u2019s 24 of NFL’s 32 owners.<\/p>\n

The NFL is anti-sports betting. It sees it as a threat to the integrity of the game, and Vegas\u2019 status as the capital of US betting is a potential roadblock to the deal.<\/p>\n

Changing Attitudes<\/b><\/h2>\n

There is evidence, though, that this attitude is thawing, and there\u2019s a realization within the NFL that technology means \u201cthe sports betting risks are no longer exclusive to Vegas,\u201d as Robert Kraft, owner of the New England Patriots, put it recently.\u00a0 \u00a0 \u00a0<\/span><\/p>\n

Vegas, meanwhile, is determined to keep bets on any possible future \u201cLas Vegas Raiders\u201d games on the menu at its sports books, even if the NFL asks it not to. For Vegas, it\u2019s a matter of pride in the integrity of its gaming industry and regulatory framework.<\/p>\n

As Tony Alamo, Chairman of the Gaming Control Commission, said recently: \u201cThe integrity of gaming is so above reproach that it doesn\u2019t matter if the team is 100 yards away or 400 miles away. What changed? Nothing.\u201d<\/p>\n

Finally, in another twist, the group devoted to ensuring that the Raiders stay in Oakland, fronted by NFL veteran Ronnie Lott, suffered a potential financing hiccup this week when its own financial backer, the Fortress Investment Group, was bought out by Japanese-based SoftBank for $3.3 billion, a deal that throws its funding into doubt.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Oakland Raiders has secured financial backing to build a new home in Las Vegas, just three weeks after Sheldon Adelson pulled his $650 million commitment to the project and Goldman Sachs followed him out of the door. On Monday, Clark County Commission Chair Steve Sisolak confirmed rumors to FOX 5 that the Raiders had […]<\/p>\n","protected":false},"author":42,"featured_media":45635,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,61,16],"tags":[],"acf":[],"yoast_head":"\nRaiders Secure Financial Backing for Vegas Move Following Adelson Blow Out<\/title>\n<meta name=\"description\" content=\"Raiders move to Las Vegas is still in the cards as financing is secured from two banks to fill Adelson-shaped hole.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raiders Secure Financial Backing for Vegas Move Following Adelson Blow Out\" \/>\n<meta property=\"og:description\" content=\"Raiders move to Las Vegas is still in the cards as financing is secured from two banks to fill Adelson-shaped hole.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-23T02:00:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-02-22T22:37:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/SNTIC_Stadium_Presentation_08.25.16_Page_11-1-resize.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1125\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/\",\"url\":\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/\",\"name\":\"Raiders Secure Financial Backing for Vegas Move Following Adelson Blow Out\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/SNTIC_Stadium_Presentation_08.25.16_Page_11-1-resize.jpg\",\"datePublished\":\"2017-02-23T02:00:05+00:00\",\"dateModified\":\"2017-02-22T22:37:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Raiders move to Las Vegas is still in the cards as financing is secured from two banks to fill Adelson-shaped hole.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/SNTIC_Stadium_Presentation_08.25.16_Page_11-1-resize.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/SNTIC_Stadium_Presentation_08.25.16_Page_11-1-resize.jpg\",\"width\":2000,\"height\":1125,\"caption\":\"An architect\u2019s rendition of the proposed $1.9 billion stadium that may become the Raiders\u2019 new home in Las Vegas. Ground will not be broken until the NFL gives its approval, a feat that will require a four-fifths majority vote from team owners. (Image: MANICA Architecture)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Raiders Secure Financial Backing for Vegas Move Following Adelson Blow Out\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\",\"name\":\"Casino.org Staff Writer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"caption\":\"Casino.org Staff Writer\"},\"url\":\"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Raiders Secure Financial Backing for Vegas Move Following Adelson Blow Out","description":"Raiders move to Las Vegas is still in the cards as financing is secured from two banks to fill Adelson-shaped hole.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Raiders Secure Financial Backing for Vegas Move Following Adelson Blow Out","og_description":"Raiders move to Las Vegas is still in the cards as financing is secured from two banks to fill Adelson-shaped hole.","og_url":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2017-02-23T02:00:05+00:00","article_modified_time":"2017-02-22T22:37:56+00:00","og_image":[{"width":2000,"height":1125,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/SNTIC_Stadium_Presentation_08.25.16_Page_11-1-resize.jpg","type":"image\/jpeg"}],"author":"Casino.org Staff Writer","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Casino.org Staff Writer","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/","url":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/","name":"Raiders Secure Financial Backing for Vegas Move Following Adelson Blow Out","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/SNTIC_Stadium_Presentation_08.25.16_Page_11-1-resize.jpg","datePublished":"2017-02-23T02:00:05+00:00","dateModified":"2017-02-22T22:37:56+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77"},"description":"Raiders move to Las Vegas is still in the cards as financing is secured from two banks to fill Adelson-shaped hole.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/SNTIC_Stadium_Presentation_08.25.16_Page_11-1-resize.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/02\/SNTIC_Stadium_Presentation_08.25.16_Page_11-1-resize.jpg","width":2000,"height":1125,"caption":"An architect\u2019s rendition of the proposed $1.9 billion stadium that may become the Raiders\u2019 new home in Las Vegas. Ground will not be broken until the NFL gives its approval, a feat that will require a four-fifths majority vote from team owners. (Image: MANICA Architecture)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/raiders-secure-financial-backing-vegas-move-following-adelson-blow\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Raiders Secure Financial Backing for Vegas Move Following Adelson Blow Out"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77","name":"Casino.org Staff Writer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","caption":"Casino.org Staff Writer"},"url":"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/45634"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=45634"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/45634\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/45635"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=45634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=45634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=45634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}