The closure of Las Vegas Strip resorts resulted in nearly a 98% "drop in room taxes going toward Allegiant Stadium over April and May," according to Mick Akers of the LAS VEGAS REVIEW-JOURNAL. In April, $143,419 in room taxes were "collected from Clark County hotels that remained open during the COVID-19 related closure of hotels with casinos attached." That amounts to a 97% decline from April '19's $4.4M generated. May was "even worse" with a 98% dip. The amount collected went from $4.7M in May '19 to $118,750 this May. The revenue "derives from a 0.88 percentage-point room tax on hotels in Clark County, which is designated to fund" the $750M public contribution to the $2B stadium project. Officials "aren't expected to dip into the debt reserve fund," as $34M has "already been collected" to pay FY '20's debt service payment (LAS VEGAS REVIEW-JOURNAL, 7/16).
JOINING THE TEAM: In Las Vegas, Richard Velotta notes a payment processing company with Las Vegas connections has been designated the "Official Credit Card Processing Company" of the Raiders and Allegiant Stadium and has been named a stadium sponsor. Pennsylvania-based Shift4 Payments Inc. is "expected to have a branded club space within the stadium and digital marketing would occur in the stadium on game days." The company also will have "prominent logo placement around the venue; television, print and radio advertising; and promotional events supporting the local business community" (LAS VEGAS REVIEW-JOURNAL, 7/16).
