Image Credit: Ron Mader (CC BY-SA 2.0)

Nearly all of the personal seat licenses (PSL) for Allegiant Stadium (future home of the Las Vegas Raiders) have been purchased; netting roughly $400 million for the franchise. A personal seat license is a one-time expense that enables an individual to purchase a season ticket. If an individual does not honor their season ticket agreement with the team, their PSL can be revoked and sold to another individual. The demand for Las Vegas Raiders season tickets are much higher than the organization had originally projected. Allegiant Stadium will have a capacity of 65,000 seats and is expected to cost more than $2 billion to construct when all is said and done.

Personal seat licenses for the premium seating options at Allegiant Stadium sold out very quickly. Select seats are still available for purchase on the lower and upper levels of the stadium. Personal seat licenses were priced at between $500 and $75,000 per seat. Roughly 30% of the personal seat licenses were purchased by individuals living outside of Las Vegas, including Arizona, Utah, and California. The Los Angeles Rams’ personal seat licenses were priced similarly. 

The success of the Las Vegas Raiders’ personal seat license program enabled the team to add an additional $130 million in upgrades for Allegiant Stadium. The various upgrades included additional furniture and fixtures, additional signage for sponsors, and various upgrades to technology and food service. Allegiant Stadium construction is expected to be complete by July 2020. The stadium is also expected to host UNLV home games, the Las Vegas Bowl, and the Pac-12 Championship in 2020 and 2021. 

The next obstacle the Las Vegas Raiders face is addressing the limited parking options outside of Allegiant Stadium. The organization is currently purchasing surface lots and other parking options within close proximity of the stadium. The Las Vegas Raiders are the city’s second professional sports team after the Vegas Golden Knights joined the National Hockey League in 2017.

 

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