Raiders’ Las Vegas Move Delivers $5.7 Billion Economic Impact in Five Years
The five-year anniversary of the Raiders’ move to Las Vegas represents a major milestone for the franchise, the NFL, and the city overall. At the onset of the journey, it…
LAS VEGAS, NEVADA – DECEMBER 14: Defensive tackle John Jenkins #95 of the Las Vegas Raiders scores a touchdown against the Los Angeles Chargers during the third quarter at Allegiant Stadium on December 14, 2023 in Las Vegas, Nevada.
Photo by Sean M. Haffey/Getty ImagesThe five-year anniversary of the Raiders' move to Las Vegas represents a major milestone for the franchise, the NFL, and the city overall. At the onset of the journey, it was an uncertain bet that has paid out significantly, both economically and culturally. It was Mark Davis, owner of the Raiders, who worked with the late chairman of Las Vegas Sands, Sheldon Adelson, to make the push towards 'Nevada-fying' the Raiders partnership nearly a decade ago. The NFL approved the move in March 2017, after initial progress was made from the stadium committee formed in 2015.
Since Allegiant Stadium opened in 2021, it has hosted 134 events and received around 5.4 million people, including 2.3 million from out-of-town, generated an estimated $5.7 billion total economic impact, making it one of the best developments in the area. Ticket sales for Raiders home games have been strong, often supplemented by the traveling fan, as well as a strong secondary market.
Even when the Raiders struggle on the field, the franchise's value hasn't suffered, moving from $1.8 billion in 2016 to $6.7 billion in 2024. The long-term benefits of the Las Vegas move are apparent. Team owner Mark Davis has continually stressed the importance of developing community relationships and promoting outreach initiatives to help guarantee a local year-round fan base.
In a perfect storm, Las Vegas's status as an NFL destination was further bolstered when it hosted Super Bowl 58 in February 2024, the biggest television event in U.S. history.. The city has also staged the NFL Draft and Pro Bowl in recent years, reinforcing its status as a premier sports destination. The success of the NHL's Golden Knights laid the groundwork for this transformation, proving that professional sports could thrive in the entertainment capital.
"Vegas has been a home run for the NFL," Stephen Jones, the Dallas Cowboys' chief operating officer and co-owner, said recently at the league's spring meetings. "It's nothing but pluses."
