Casino mogul Adelson pulls out of Raiders-Vegas stadium deal
LAS VEGAS (AP) -- Casino mogul Sheldon Adelson has pulled out of a plan to build a $1.9 billion domed stadium for the NFL's Oakland Raiders to move to Las Vegas.
In a terse statement on Monday, Adelson declared that he had been excluded from talks before the team sent a lease proposal last week to the public board that will own the 65,000-seat stadium.
Adelson says his family and Las Vegas Sands "will no longer be involved in any facet" of the plan.
The Raiders made no immediate comment.
Adelson had pledged $650 million and the Raiders $500 million, with the stadium authority putting up $750 million in Las Vegas tax revenues.
Nevada Gov. Brian Sandoval's office says the proposal now is for the Raiders to invest $1.15 billion and accept operating responsibilities.