Las Vegas Raiders Allegiant Stadium Room Tax Revenue Dive Means Bond Reserve In Trouble In 2022

Las Vegas Raiders Allegiant Stadium Room Tax Revenue Dive Means Bond Reserve In Trouble In 2022

Las Vegas Raiders Allegiant Stadium Room Tax Revenue Dive Means Bond Reserve In Trouble In 2022
From YouTube Channel: February 16, 2021 at 12:42AM
ONN – Las Vegas Raiders Allegiant Stadium Room Tax Revenue Dive Means Bond Reserve In Trouble In 2022

Here at Oakland News Now, and more specifically in a December 9th, 2020 post called “Allegiant Stadium Clark County Stadium Bond Reserve Faces Depletion In Fiscal Year 2022“, I described the anatomy of the Clark County Stadium Bond Issue, and showed how Pandemic-reduced-demand for hotel room stays in Las Vegas and Clark County (within the Stadium Bond Issue Hotel Tax Collection Zone) would cause annual reductions in revenue from that source, such that the bond debt reserve would be depleted by 2022.

A number of readers and watchers of my vlogs at Zennie62 YouTube asked me to provide what my friend Mike Lowry would call a “clift notes” version of the post. This livestream is an effort to do just that. I also included some new information.

Just over a month after I released the December 9th, 2020 post, the Las Vegas Stadium Authority released its own update of financial data. In my post, I forecast a monthly average revenue of $2 million for Fiscal Year 2021, and for those months that were, at the time, not reported.

The actual revenue for FY 2021 October and November was $1,590,345 and $1,169,664, respectively. That’s 79.5 percent of the forecast of $2 million for October, and 58.4 percent of the forecast of $2 million for November. Looked at another way, that’s a real 20.5 percent revenue loss for FY 2021 October, and a 41.5 percent revenue loss for FY 2021 November. In short, it means that, barring a dramatic improvement in the Las Vegas, American, and World economy, or a giant injection of financial assistance, the depletion of the Allegiant Stadium Debt Service Reserve Fund is certain to happen by 2022.

Stay tuned.

Note from Zennie62Media and OaklandNewsNow.com : this video-blog post demonstrates the full and live operation of the latest updated version of an experimental Zennie62Media , Inc. mobile media video-blogging system network that was launched June 2018. This is a major part of Zennie62Media , Inc.’s new and innovative approach to the production of news media. What we call “The Third Wave of Media”. The uploaded video is from a YouTube channel. When the video is “liked” by Zennie62 YouTube, then it is automatically uploaded to and formatted automatically at the Oakland News Now site and Zennie62-created and owned social media pages. The overall objective here, on top of our is smartphone-enabled, real-time, on the scene reporting of news, interviews, observations, and happenings anywhere in the World and within seconds and not hours – is the use of the existing YouTube social graph on any subject in the World. Now, news is reported with a smartphone and also by promoting current content on YouTube: no heavy and expensive cameras or even a laptop are necessary, or having a camera crew to shoot what is already on YouTube. The secondary objective is faster, and very inexpensive media content news production and distribution. We have found there is a disconnect between post length and time to product and revenue generated. With this, the problem is far less, though by no means solved. Zennie62Media is constantly working to improve the system network coding and seeks interested content and media technology partners.

via IFTTT
https://www.youtube.com/watch?v=GJOEJXi383U

Oakland News Now Recent Posts

Oakland News Online Links From Oakland's Only News Aggregator Blog

Oakland News Now Archives

Oakland News Now - SF Bay Area, East Bay, California, World