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Gis jobsLas Vegas & Pro Sports: a potential way forward for governments to stop subzidizing pro sports venues

September 3, 2017

Constantly renewing itself, Las Vegas is moving into another a new era. Las Vegas sportsbooks have been legally accepting wagers since sports betting was made legal in Nevada in 1951. Once shunned by professional sports leagues for its association with gambling, or perhaps more correct, their refusal to share gambling profits, with a regional population now exceeding 2 million, Las Vegas will soon welcome two professional sports teams as these leagues appear to have moved past their distaste for the profits that Las Vegas sportsbooks have been making on the backs of their event results.

In the Fall of 2017, the National Hockey League will welcome the Las Vegas Golden Knights to the T-Mobile Arena, located right on the Vegas Strip among dozens of Casinos and sportsbooks. Despite the ability to request that the local bookmakers take the Golden Knights events off the board, Las Vegas bookies will likely continue to offer NHL odds for all games.

Perhaps as soon as the 2019 season, Las Vegas will also welcome the relocation of the Oakland Raiders franchise to play at a brand new Las Vegas football stadium that will be adjacent to the Strip and the Mandalay Bay Casino resort. Again, Las Vegas sportsbooks will likely continue to offer NFL odds for all games.

With this, Las Vegas is providing an example of a potential way forward with regard to addressing the the longstanding pattern of professional sports teams that constantly put undo pressure on local governments for subsidization of their new for-profit venues.

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