Raiders' Stadium Budget Increase Will Allow For More Upgrades
The Raiders’ $90M Allegiant Stadium construction budget increase to $1.97B will "allow the team’s construction subsidiary to upgrade features, enhance technology and add signage to the 65,000-seat indoor venue," according to Richard Velotta of the LAS VEGAS REVIEW-JOURNAL. Allegiant Stadium COO Don Webb stressed that the construction budget increase was the "result of third-party sponsorship agreements and more successful than anticipated sales of personal seat licenses" in advance of '20 season tickets. Webb said that crews are "upgrading suites, adding video screen consoles to some club seating areas and developing space in the stadium’s event level that previously hadn’t been programmed." That includes "adding new concession carts in some areas." Webb also said that revenue from third-party sponsors will "enable the construction of signs on and around the stadium." Signage "wasn’t completely budgeted pending the signing of a naming-rights agreement." The Raiders’ sale of PSLs has been "more successful than the team anticipated." Raiders President Marc Badain said that PSLs are about 95% "sold out." The team will "likely end sales by Thanksgiving" (LAS VEGAS REVIEW-JOURNAL, 9/17). Webb said that PSL revenue is over $352M. He added that more than a dozen stadium sponsorship deals "have been agreed to" including Allegiant's naming-rights pact (LAS VEGAS SUN, 9/17).
LEVY TO BE CONCESSIONAIRE: In Las Vegas, Alan Snel reported Levy Restaurants has "won the contract to serve" Allegiant Stadium as the venue's concessionaire. Raiders stadium execs are "already advising any local Las Vegas restaurants seeking to sell food at Allegiant Stadium to contact Levy Restaurants." The Chicago-based concessions company "already has contracts" in the same market at T-Mobile Arena, Las Vegas Motor Speedway and the Triple-A PCL Aviators' Las Vegas Ballpark (LVSPORTSBIZ.com, 9/16).