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Wynn: NFL stadium would be game-changer for Las Vegas, ensure city's future

Posted at 7:40 PM, Oct 03, 2016
and last updated 2016-10-04 02:36:00-04

Steve Wynn was more enthusiastic about the proposed Las Vegas stadium for the Oakland Raiders than anything he has ever promoted.

Nothing since the change in law that allowed public financing of our industry, which provided the capital -- NOTHING is as big a deal to the state of Nevada -- not just Las Vegas, as the NFL -- as professional sports coming to this city,” Wynn gushed, almost coming out of his chair a couple of times during our 90-minute interview.

Wynn said that the stadium would boost occupancy rates by as much as 10 percent and would ensure the city’s security in the face of increasing competition.

“The NFL coming to Las Vegas is the best thing that I have seen in terms of underwriting the employment security of all the people who work in the resort industry….for underwriting the flow of room revenue taxation to the stakeholders,” Wynn said. “You know, the room tax goes to Boulder City, Henderson, North Las Vegas -- not just to the convention bureau. Nothing will underwrite the success and the occupancy of this town as much as professional sports coming here.”

Watch more of his comments below.

Wynn said he believes the stadium plan will be approved by the NFL owners in January.

“I’m intimately involved in this process,” he said. “When I say intimately...Jerry Jones, Robert Kraft, Dan Snyder, Dean Spanos, owners of teams that are friends of mine, they think it’s a good idea. They believe that we can get the 24 votes out of 32 that it takes to move a franchise.”

Watch more of his comments below.

Wynn dismissed any arguments about public financing.

“We increase the security...the certainty that the amount will flow from the room tax to all the people who benefit from it,” he said. “Adding the stadium and adding to the room tax makes the cash flow of the room tax to the people who benefit from it even stronger. It makes the general fund of the state even stronger. It underwrites the job security of the employees even more. It increases the profitability of the hotels, which allows for expansion.

"This is what the free market is all about. It’s time for people to understand that unless there’s growth, things shrink. Las Vegas needs professional sports. The room tax is paid by folks who come from out there to here.” 

Wynn said the state would be foolish to pass up this chance.

“If we miss this opportunity, we oughta be arrested,” he told me.

Watch more of his comments below.

To hear his full comments on the stadium proposal, watch the full interview below.