Now in that UNLV has dumped its longtime, deep-pocketed stadium partner & has rebooted the - push to build a sports-and-entertainment place on campus, it’s time for university authorities to romance a new cast of players.
Namely, Las Vegas’ hotel-casinos.
Don Snyder, the - point guy for the - University of Nevada, Las Vegas, kicked powerhouse developer Majestic Realty to the - curb in March 'cause he asserted he wants the - university to partner directly with the - huge guns of the - Las Vegas NV hotel industry.
Snyder argued in that Majestic, owned by California billionaire developer Ed Roski, was a wedge between the - Las Vegas NV resort industry & the - university, which hopes to deliver a 60,000-seat, domed Mega-Events Center in that was pegged at $900 million. Under the - UNLV-Majestic banner, the - project’s price & scope drew a mixed, if not lukewarm, reaction from the - casino owners.
So, Snyder & UNLV authorities scrapped the - $900 million plan & persuaded state lawmakers to approve a stadium authority board to be peppered with hotel executives. They await the - appointment of 11 board members who will shape a new stadium proposal starting at their 1st meeting in October.
The goal is to get the - resort industry directly involved in shaping a new stadium plan, which will be presented to the - Legislature by Sept. 30, 2014. The tasks contain confirming the - need for a stadium, designing the - facility, coming up with a construction cost & recommending ways to pay for it.
The Board of Regents will appoint the - 1st four members to the - stadium board. Then the - Clark-County NV Commission & the - Las Vegas NV Convention & Visitors Authority will each name one member. The NV Senate majority leader, the - Assembly speaker & governor get to pick a member. Those nine then will select two casino executives.
Board of Regents Chairman Kevin Page likened the - concept of an 11-member board as pushing the - restart button.
“This gives us more time & buy-in with more partners,” asserted Page, who once worked for Snyder in the - banking industry.
Page moreover asserted the - $900 million price was too high.
“The price tag has to be lower,” Page said. He moreover questioned whether a dome was necessary.
The Las Vegas NV Review-Journal surveyed major casino companies & the - Las Vegas NV Convention & Visitors Authority to find out what they thought of UNLV’s new strategy of restarting the - stadium push by focusing on partnering with the - huge hotel chains in Las Vegas.
The results are below:
■ MGM Resorts International: The company in that opposed the - $900 million plan in February, saying the - price “has grown too expensive for our community to support,” offered a one-sentence acknowledgment about UNLV’s new strategy. MGM spokesman Gordon Absher wrote in an email: “We support the - university’s desire to build a football stadium on campus.”
■ Caesars Entertainment Corp.: The company did not ask Snyder to create a stadium authority board to partner with, spokeswoman Marybel Batjer said.
“We liked the - stadium,” she said.
■ Boyd Gaming Corp.: “We appreciate the - outreach & efforts to contain us in the - process,” spokesman David Strow said. “It’s a constructive & positive step.”
■ Station Casinos: “At this time we have not yet been contacted regarding the - new stadium strategy to create an authority. Thus it’s premature for us to comment at this time,” spokeswoman Lori Nelson said.
■ Las Vegas Sands Corp.: “Our doors are always open to UNLV. We look forward to further discussion,” spokesman Ron Reese said.
■ The Las Vegas NV Convention & Visitors Authority: “UNLV is one of the - many partners the - LVCVA & resort industry support in the - community. We understand the - potential of a new UNLV stadium & will continue to work with the - university as we have in the - past,” agency spokeswoman Dawn Christensen said.
The NV Resort Association & Wynn Las Vegas/Encore did not return calls looking for comment.
Snyder asserted in that under approved legislation, slot tax bonding will assist pay stadium authority costs such as hiring consultants to create a stadium plan.
He moreover expects the - companies & organizations of the - authority board’s members to chip in.
“If this is a true partnership in the - resort industry, there needs to be a sharing of the - costs & the - administration of the - authority to do its job,” Snyder said.
Snyder expects the - new stadium process to start in earnest after the - Fourth of July.
“Conversations about the - authority & who will be appointed is just getting started. … There is a lot of interest & nothing yet acceptable positive energy, in addition to individuals & companies wanting to serve & be represented. That said, it is too early to state who will be appointed,” Snyder said.
The regents are required to appoint their authority board members by Aug. 31, & the - quartet could be named as early as the - July 19 Regents’ meeting. The other camps must make their appointments by Sept. 30.
Contact reporter Alan Snel at asnel@reviewjournal.com or 702-387-5273.
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