The upcoming move of the Oakland A’s to Las Vegas is a major event for both the city and the casinos that exist here. This move marks a significant shift for Las Vegas, a city already famous for its massive gaming and entertainment industries. Las Vegas stands to gain a lot from the A’s relocation. The city is likely to attract more visitors as baseball fans come to watch the A’s play. This increase in visitors will likely mean more business for the casinos as well. 

Approval and Funding for the A’s Move

The decision to move the Oakland Athletics to Las Vegas has received unanimous approval from Major League Baseball (MLB) team owners. This unanimous vote not only reflects the owners’ confidence in the potential of the Las Vegas market but also marks a pivotal step in bringing a new major league team to the city.

The funding for the new stadium, which is a key component of the A’s move, presents a more complex picture. Unlike the Las Vegas Raiders’ move, where the funding included a significant public contribution through a $750 million room tax, the overall funding strategy for the A’s stadium is still taking shape. 

Dave Kaval, the president of the A’s, has indicated that the Fisher family, who owns the team, is prepared to make a substantial private investment. This investment has been described as one of the largest private contributions ever made to a sports team. Additionally, there are discussions about potential financing support from sources like Goldman Sachs, but the exact details and structure of this funding are yet to be finalized.

Comparatively, the Raiders’ relocation to Las Vegas involved a clear and substantial public funding mechanism. The difference in the funding approach for the A’s move highlights a shift in strategy and potentially reflects the evolving nature of sports franchise relocations and stadium financing. While the Raiders’ funding model relied heavily on public money, the A’s move appears to be leaning more towards private investment (although there is a significant public financing component as well). This shift could have implications for the local economy and the real estate market as the nature of the investment could influence the economic impact and development patterns around the new stadium.

Regulatory and Construction Challenges with the A’s Move

The process of building a new stadium for the A’s is complex, requiring coordination and approval from various regulatory bodies. One of the key regulatory hurdles is the approval from the Federal Aviation Administration (FAA). Given the stadium’s proximity to Harry Reid International Airport, the FAA’s clearance is essential to ensure that the stadium’s construction and operations do not interfere with airport activities. 

Local authorities also play a significant role in the stadium’s development. From zoning approvals to infrastructure planning, their involvement is meant to ensure that the stadium integrates with Las Vegas’s urban fabric. These local regulations and standards are designed to maintain the city’s structural integrity and public safety, making their approval process a pivotal aspect of the project’s timeline.

Public financing presents another layer of complexity. Unlike some sports facility projects that have used direct public funding, A’s stadium financing might involve a petition and ballot process. This process requires gathering enough signatures to bring the funding issue to a public vote, a step that involves significant community engagement and outreach. The need for public approval introduces an element of uncertainty into the project, as it depends on winning public support for any proposed financial contributions from the city or county.

The A’s and Las Vegas Tourism

The relocation of the Oakland A’s to Las Vegas presents unique challenges and opportunities when it comes to gathering local support and enhancing the tourism industry. A crucial aspect of the A’s move is the need to establish a strong local fan base in a city where major league baseball is a new addition.

Building a Local Fan Base for the A’s

While establishing a fan base for the Oakland Athletics in Las Vegas, the presence of their Triple-A affiliate, the Las Vegas Aviators in Summerlin, is a significant asset. The Aviators have already cultivated local interest in baseball, creating an initial fan base that the A’s can engage with and expand upon. This allows the A’s to focus on broadening their appeal to a wider Las Vegas audience by leveraging the existing baseball enthusiasm generated by the Aviators. 

Reliance on Tourism to Fill the Stadium

Las Vegas’ reputation as a prime tourist destination can play a significant role in filling its new stadium. The city’s vast tourist influx, attracted by its casinos, entertainment, and now sports offerings, provides a unique opportunity for the A’s to capitalize on this audience. However, the challenge lies in ensuring that the stadium attracts enough visitors consistently, especially given the large number of home games that will be played in the Las Vegas summer heat.

Unique Features of the Planned Stadium

The planned stadium for the A’s is not just another ballpark; it is poised to be a state-of-the-art facility with features that enhance its appeal to a broad audience. Key highlights include a partially retractable roof, a feature that might help alleviate some of the concerns about games being played on sweltering summer days. The stadium will also contain a playing surface that provides a majestic view of the iconic Las Vegas Strip (when the retractable roof is opened). 

These unique features are designed to create an unforgettable experience for visitors, potentially making it a must-visit destination for both baseball fans and general tourists. The stadium’s design and amenities aim to provide an attractive venue not just for sports, but for a variety of events, thereby contributing to its appeal and usability.

Direct Benefits to the Casino Industry

The anticipated arrival of the Oakland A’s in Las Vegas is expected to have a substantial impact on the city’s already vibrant gaming industry. Industry analysts are optimistic about the A’s move to Las Vegas, foreseeing a significant boost to the local casino industry. 

The presence of a Major League Baseball team in the city is expected to attract more visitors, thereby increasing foot traffic in the nearby casinos. This influx of baseball fans, combined with the existing tourist crowd, could lead to higher spending in casinos, not just on gaming but also on hospitality and entertainment offerings. 

Casino operators such as MGM, Caesars, Wynn, and Golden Entertainment are likely to see direct benefits from the A’s relocation. These benefits include increased patronage, as baseball fans staying in Las Vegas might choose to lodge, dine, and entertain themselves at these casinos. The presence of a major league sports team near these establishments could also lead to potential partnerships, event tie-ins, and promotions, leveraging the excitement around baseball games to drive casino and resort traffic. 

The Role of Bally’s and GLPI in Stadium Construction and Adjacent Developments

Bally’s Corporation and Gaming & Leisure Properties Inc. (GLPI) are playing pivotal roles in the stadium construction and adjacent developments. Bally’s, through an agreement with the A’s, is involved in the construction of the $1.5 billion, 30,000-seat stadium on the Tropicana Las Vegas site. This development is not only a significant investment but also a strategic move that places Bally’s at the center of a major sports and entertainment hub. 

Meanwhile, GLPI is committing up to $175 million towards the stadium and shared improvements in the area. These investments by Bally’s and GLPI are expected to catalyze further development around the stadium, potentially creating a new zone on the Las Vegas Strip that combines sports, gaming, and entertainment. 

Contact the Knoch Group for Information and Insights Regarding Las Vegas Real Estate

The Oakland A’ move to Las Vegas is set to boost the casino industry, attracting more visitors and enhancing the city’s entertainment profile. This influx is likely to positively impact the luxury real estate market as well, increasing demand for high-end homes near the stadium and major casinos. 

For insights into how this shift impacts the Las Vegas luxury real estate market, reach out to Ryan Knoch of the Knoch Real Estate Group. Ryan is one of the top luxury home brokers in southern Nevada, and he puts his in-depth expertise to work to ensure that his clients are able to accomplish their real estate goals.