Las Vegas Raiders’ Impact in Las Vegas
January 22, 2020 is a day that will forever be etched in National Football League (NFL) history – definitely Las Vegas’ history. It’s the day the Oakland Raiders (an iconic NFL team) made their relocation to Sin City official, though it came at an inopportune time – just a few months before the World Health Organization (WHO) declared COVID-19 a pandemic.
When the relocation was announced, many people didn’t know what to think. The Raiders’ name had been synonymous with the Oakland community, but Las Vegas was ready to burst onto the sports scene after seeing the Vegas Golden Knights find success in their first few years in the city – Vegas was ready.
While things haven’t been perfect for the Raiders (they had an 18-15 record in their first two seasons in Vegas), it’s better than their final two years in Oakland (when they went 11-31). Not only that, but it has been an extremely profitable move for both the Raiders and Vegas, even if it hasn’t resulted in wins (yet).
How Have the Raiders Impacted Las Vegas?
Las Vegas welcoming the Raiders into town was a no-brainer move – not just for the Las Vegas economy, but look at what it has done for the community. For a city that prides itself as a tourist destination, having the Raiders (and the Knights) gives the community something that’s theirs – something they don’t have to share.
The Raiders’ move to Las Vegas has been a match made in heaven from the city’s perspective. They’ve gotten (and continue to get) opportunities to host big-time events, they have a team that gives back to the community, they’re bringing opposing fans to the city, and they have one of the best stadiums of all-time.
Here’s a closer look at how the Raiders’ move has impacted the city of Las Vegas:
NFL Draft & Super Bowl
Just two years after the Raiders relocated to Las Vegas, the city found itself hosting the NFL Draft – right here on the Las Vegas Strip! More than 300,000 football fans were on the Strip that weekend, and more than 10 million others saw it unfold on TV. Now they’re preparing to host the Super Bowl in a few months.
These events not only bring in tourists, but they paint the city in a positive light and show fans how fun sports can be with a little Vegas love.
Giving Back to the Community
One of the biggest benefits of having a home football team is the impact they have on the community. Not only do they bring people together (especially when they win often), but teams do a lot of charity work and volunteering that goes a long way in providing a happier, safer, and more inclusive environment for all.
Steady Flow of New Tourism
For a city that has nearly 600,000 visitors every week (38.8 million people visited Las Vegas in 2022), did they really need more? Maybe not, but that’s what they’re getting out of the deal. Did you know nearly 40% of all Allegiant Stadium guests are from out of town? Even when the Raiders occupy the Stadium, opposing fans regularly fill a majority of the seats.
A Multi-Functional Stadium
Allegiant Stadium is a beautiful piece of architecture and it’s something the city is proud of – and they should be because they paid $750 million of the $2 billion cost to build it. It’s paying off, though, and a big reason why is its ability to host events year-round – not just football games. It’s a money-making machine! Oh, and it’s the first NFL stadium powered exclusively by a renewable energy solution.
Housing Prices
The city isn’t the only one profiting from the Raiders’ relocation – the residents are, too! As soon as the announcement was made, home prices started to rise as more people wanted to move here – especially those who wanted to remain faithful to the Raiders. If only they could win us some championships, now!
How Has Las Vegas Impacted the Raiders?
Las Vegas has benefited greatly from the Raiders calling their city home, but let’s not overlook how much the Raiders have benefited from the move – it’s equally as profitable for Mark Davis (owner of the Raiders) as it is for the rest of the city. It might not show up in the wins column, but it will at some point.
The value of the team has more than doubled since the move, they’re able to draw in bigger free agents, they can finally say they have a true home stadium (one of the best in the league, nonetheless), and they’re slowly starting to rebuild their reputation – though they still have a long way to go in that regard.
Let’s take a closer look at how the Raiders have benefited from their move to the Las Vegas area:
Value & Revenue
The Raiders were worth $2.9 billion in 2019, but the franchise is now worth more than $6.1 billion (sixth in the NFL) and they bring in more than $729 million in annual revenue (second in the league). Their $90 million in ticket sales and $70 million in non-NFL stadium revenue both rank first throughout the NFL.
Free Agent Interest
With more money, no state income tax, and a vacation/resort-like destination, the Raiders are finding it much easier to draw in free agents and trade prospects – as they did with Jimmy Garoppolo, Chandler Jones, and Davante Adams. They still have to translate that to wins, but that’ll happen eventually.
A True Home Stadium
When the Raiders were in Oakland, they shared a stadium with the MLB’s Oakland Athletics. In Las Vegas, they have a true home stadium – one they don’t have to share with another sport’s team (unless it’s a featured, one-off event. Not only that, but they found a city willing to fork over $750 million to build it.
Improved Reputation
The Raiders have faced their fair share of scrutiny over the past few years (Jon Gruden controversy, multiple players with criminal behavior), but they’ve managed to work through some of those things and continue to rebuild their reputation – especially from a league standpoint (maybe not a fan standpoint).
Spend Your Football Sunday With Us!
Are you in town for Football Sunday? Are you looking for a good pre-game or post-game spot to refuel? Do you like Mexican-Italian infused dishes? If you answered ‘yes’ to any of those questions, then you’ve come to the right place – Il Toro E La Capra is located just 5 minutes from Allegiant Stadium.
Don’t worry, we do have a bar and several TVs with sports on, so you can catch up on your sports news before the game while enjoying one of our delicious entrees – don’t forget to book your reservation today!
