The Southern Nevada Tourism Industry Committee has unanimously approved $750 million in public funding to construct an NFL stadium for the Oakland Raiders' potential move to Las Vegas, according to News3LV's Nathan O'Neal.
The plan also needs to be approved from governor Brian Sandoval and legislature. The venue is expected to cost about $1.9 billion. Casino mogul and Sands Corp. CEO Sheldon Adelson is expected pay $650 million for the stadium in addition to the Raiders' $500 million.
The public funding is expected to come from a new tourism tax. The panel also voted not to approve the Raiders' tax exemption request.