The budget for the $1.8 billion Las Vegas stadium project increased by $40 million this week, but that’s tied to positive news that could help net the stadium the biggest game in sports.
The extra money will allow stadium officials to add 20 new suites, increasing the number planned for the 65,000 seat stadium to 128, according to Raiders President Marc Badain. And the additional suites will make the stadium more attractive for large events, like the Super Bowl.
The sales of suites, personal seat licenses, club seats and sponsorships exceeded the Las Vegas Stadium Co.’s budgeted amounts, spurring the new additions, according to Las Vegas Stadium Co. Chief Operating Officer Don Webb.
“This is good news,” Webb said at Thursday’s Las Vegas Stadium Authority meeting. “Normally a person in my position reporting to a public body such as yours has the unenviable task of telling you why the project is over budget because costs weren’t properly accounted for… that’s not what this is about. This is good news, not bad news.”
Of the $40 million windfall, $8 million will go toward adding the 20 new suites in place of some single seats in the south end zone.