This Just In
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  • The increase in H2-B visas will help small and seasonal businesses to meet workforce demands critical in peak tourist periods.
  • SMG signed a 3-year agreement to continue managing Cobo Center in Detroit. SMG has been the management firm for Cobo since 2010.
  • Highlights of SMG’s tenure include oversight of a major renovation, reduced operating deficit and creation of a technology department.
  • Ground was broken June 20 on the expansion of the MGM Grand Conference Center in Las Vegas. The 250,000-sf project will wrap up next year.
  • The $130 million expansion includes two new ballrooms, 11 breakout rooms and additional space for the center’s Stay Well Meetings feature.
  • The Louisville Downtown Marriott Hotel is undergoing a $30 million renovation slated for completion in August 2018. The hotel remains open.
  • The Marriott is attached to the Kentucky International Convention Center and offers 50,000 sf of meeting space and 616 guest rooms.
  • AEG plans to acquire four acres in downtown Nashville to be developed as a mixed-use entertainment district at SWVP’s Nashville Yards.
  • The mixed-use district will be anchored by a 4,000-capacity music hall, luxury theatre, live entertainment club, boutique hotel & more.

Raiders Las Vegas Stadium Deal in Jeopardy

Sandi Cain
, News Editor
February 2, 2017
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Las Vegas -- The $1.9 billion plan to build a new football stadium in Las Vegas for the NFL’s current Oakland Raiders took a backward step this week when Sands Corp. CEO Sheldon Adelson said he was pulling out of the deal. Adelson had previously committed to providing $650 million toward the project. Yesterday, Goldman Sachs also said it would remove itself from any involvement in the project. 

The news came on the heels of the Raiders formally filing relocation papers with the NFL in order to make the move to Las Vegas. The NFL and the Raiders had promised to contribute $500 million to the $1.9 billion project. 

Adelson told the Las Vegas Review Journal (owned by Adelson and the Sands Corp.) that the Raiders had presented a draft lease to the stadium authority without notice to the Sands Corp. 

Steve Hill—who chairs the Southern Nevada Tourism Infrastructure Committee (SNTIC) and is Executive Director of the Governor’s Office of Economic Development-told attendees at a Global Economic Alliance event that he was “confident they (Raiders) can secure funding necessary to move this project forward.” 

But other questions remain. The NFL is set to vote in March on whether to approve the team’s relocation and it is unclear if they would green-light that move without a plan in place to replace the $650 million previously pledged. The Nevada Legislature already approved $750 million in tax funding for the stadium, but that too was contingent on the Raiders providing their promised share.

There is no indication at this time that the $400 million Convention Center expansion project is in jeopardy, though funding for both projects was approved by the Governor in the same bill last October. Officials from the Las Vegas Convention & Visitors Authority, SNTIC, and the Sands Corp. had not replied to emailed requests for additional comment at press time. Trade Show Executive will provide updates to this story as needed.

Reach Steve Hill at (702) 486-2700 

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