Nevada Gov. Brian Sandoval on Monday signed into law a bill that authorizes spending $750 million in public funds to help build a new football stadium in Las Vegas aimed at luring the Oakland Raiders.
Nevada’s Assembly voted 28-13 in favor of the bill on Friday, and the Nevada Senate passed it by a 16-5 margin on Thursday.
Sandoval put his signature to the bill at a ceremony at the University of Nevada at Las Vegas, which will share the proposed $1.9 billion stadium with the Raiders if it’s built.
The bill raises hotel room taxes to help fund the stadium, which is backed by casino owner Sheldon Anderson.
Raiders owner Mark Davis has pledged to contribute $500 million toward the cost of building the stadium and Anderson reportedly has promised to contribute $650 million.
In a statement on Friday, Davis said, “All parties have worked extremely hard to develop and approve this tremendous stadium project that will serve as a proud new home for the entire Raider Nation.”
After the bill was approved on Friday, Sandoval said, “It is truly exciting to see our gaming industry, labor unions and small businesses come together with broad support for these important projects.”
“This is the beginning of the next chapter of southern Nevada’s continued dominance in tourism, conventions and hospitality and presents an exciting opportunity for the University of Nevada at Las Vegas,” Sandoval said.
Oakland Mayor Schaaf said last week that she is still hopeful that an agreement can be reached to build a new football stadium in Oakland that would keep the Raiders in the city for the long term.
The Raiders signed a lease extension agreement in April that keeps the team at the Oakland Coliseum at least through the end of this year and possibly for two additional years.
Davis has explored the possibility of moving the team to several cities in recent years.
Before looking at Las Vegas, he first considered moving to San Antonio and then made a serious bid to build a new stadium in the Los Angeles area and move the team there.
But that proposal was rejected by National Football League owners at a meeting in January.
Three-fourths of the owners of the NFL’s 32 teams must approve any proposal to move a team.