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Old 10-12-2018, 11:23 AM   #26
Alex E
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Re: Rio to be demolished for MLB park??????

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I wrote an article about this. Tax records show Rio's land with buildings is worth $538 million. That assumes the enterprise value is $0 in a sale price, which it isn't.

The Riviera demolition was about $45 million. Rio must be more than that with its taller, bigger buildings, though asbestos wouldn't be an issue like it was at Riviera.

Now we're over $600 million just for the land without accounting for what Rio's value as a going concern is. The Raiders paid $77.5 million for its land that required virtually no site work.

There are far better sites for a stadium, even close to Strip. Wild Wild West has almost 60 acres, which is about the size of the Raiders stadium lot, and you wouldn't need as much land for MLB. Demolishing WWW would be far cheaper, too, and Station has shown an interest in selling it.

There are also hundreds of acres of one-story industrial buildings all along the I-15 corridor. Assembling those would also be a cheaper alternative.
Exactly.

There is no way that this is ever becoming a baseball stadium. There's no doubt that they've been wanting to get rid of the Rio for some time (heck they even asked pokerstars if they wanted to buy it), but no one in their right mind would ever buy it, demolish it, then turn it into a baseball stadium.
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Old 10-12-2018, 04:22 PM   #27
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Re: Rio to be demolished for MLB park??????

Lost in all of this discussion is the new AAA park being built in Summerlin. I know in past times MLB didn't allow minor league teams to exist in major league cities (and yes I know that Summerlin is city of LV while the Rio site isn't), so I don't know how tough of a negotiation that would become if MLB decides to build a stadium 10 miles away.

And I too am one that thinks there's no chance they build on the Rio site.
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Old 10-12-2018, 05:07 PM   #28
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Re: Rio to be demolished for MLB park??????

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Lost in all of this discussion is the new AAA park being built in Summerlin. I know in past times MLB didn't allow minor league teams to exist in major league cities (and yes I know that Summerlin is city of LV while the Rio site isn't), so I don't know how tough of a negotiation that would become if MLB decides to build a stadium 10 miles away.
Even though the Charlotte Knights opened their new ballpark only 4 years ago, Rob Manfred explicitly mentioned Charlotte as a candidate for expansion a couple month ago.

Therefore I don’t think currently having a AAA team is a deal breaker. TBH, even though the stadium in Summerlin is supposed to cost $150mil, that’s pretty much peanuts compared to $2.5bln+ that would go into starting a MLB franchise.
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Old 10-12-2018, 05:32 PM   #29
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Re: Rio to be demolished for MLB park??????

thinking more mixed-use as city planning has trended, is there any chance for a smaller than Rio hotel & casino along with a ballpark?

the stigma around gambling and major sports seems to be quickly dissipating so it doesn’t seem that outlandish to imagine casino integration with a stadium concourse in some way.

stadium also gives the owner a venue suitable for the biggest touring acts
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Old 10-12-2018, 07:26 PM   #30
John Mehaffey
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Re: Rio to be demolished for MLB park??????

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Even though the Charlotte Knights opened their new ballpark only 4 years ago, Rob Manfred explicitly mentioned Charlotte as a candidate for expansion a couple month ago.

Therefore I don’t think currently having a AAA team is a deal breaker. TBH, even though the stadium in Summerlin is supposed to cost $150mil, that’s pretty much peanuts compared to $2.5bln+ that would go into starting a MLB franchise.
Atlanta also has MLB and AAA in its suburbs.

As for the Summerlin stadium, the LVCVA pledged $80 million to it less than a year ago. I have a hard time thinking they would do that if they thought MLB had a chance of being imminent. Also, Oakland seems to have resolved its MLB stadium situation.
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Old 10-12-2018, 07:28 PM   #31
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Re: Rio to be demolished for MLB park??????

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Regardless of the sketchiness of "someone I know seems to think", it does add up. The lot is zoned for a casino which is no small thing, meaning why give that up when there are plenty of places you could build a stadium (that also don't require the cost of demolishing a hotel?)
Hardly sketchy, this person is in the know and there is no way in God's green earth someone is going to tear down the Rio to build a ball park.

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Rio doesn’t need major repairs but a total remodel or demolishing and rebuild. Remodel of the Palms costs North of $600mil, the Rio will probably be more expensive but that’s known to everyone who stepped foot into the building over the last couple years. Not only to potential buyers.
We can argue semantics but I stay there a lot and escalators need to be replaced they have many leaks, the Masquerade tower and casino needs to be nuked and rebuilt etc. Either way a buyer has to becoming aboard with major money but once done can recoup it much faster than a ball field.
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Old 10-12-2018, 07:47 PM   #32
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Re: Rio to be demolished for MLB park??????

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Also, Oakland seems to have resolved its MLB stadium situation.
Since when? My last status was that they plan on picking a site (Colosseum or Howard Terminal) by the end of the year but nothing was set in stone yet.

FWIW, Oakland or Tampa closing a stadium deal might be the signal for MLB to put expansion on the official agenda. They don’t want to relocate Oakland or Tampa but expand to 32 teams.
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We can argue semantics but I stay there a lot and escalators need to be replaced they have many leaks, the Masquerade tower and casino needs to be nuked and rebuilt etc. Either way a buyer has to becoming aboard with major money but once done can recoup it much faster than a ball field.
Sorry to hear that you have to stay there a lot.

I wasn’t disputing your “major repairs” claim. I just said that was a serious understatement because they either have to do a total remodel or rebuild. Repairs won’t help anything.
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Old 10-12-2018, 11:02 PM   #33
John Mehaffey
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Re: Rio to be demolished for MLB park??????

This article seems to be confident that Oakland has their stadium situation within reach.

https://www.forbes.com/sites/barrymb.../#76aeeb537a8e
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Old 10-13-2018, 11:21 AM   #34
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Re: Rio to be demolished for MLB park??????

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This article seems to be confident that Oakland has their stadium situation within reach.

https://www.forbes.com/sites/barrymb.../#76aeeb537a8e
This wouldn’t be the first or second time the A’s have had a new stadium within reach. I’ll believe it when they break ground.

Personally I think they should build on the existing site. Having the most direct BART access is no small thing. Level the arena since the Warriors are leaving, build in the parking lot, then level the colosseum and add mixed-use development. And FFS, the new stadium has to have a view of the Oakland Hills.
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Old 10-13-2018, 10:12 PM   #35
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Re: Rio to be demolished for MLB park??????

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I wasn’t disputing your “major repairs” claim. I just said that was a serious understatement because they either have to do a total remodel or rebuild. Repairs won’t help anything.
Nothing to be sorry about I get a nice suite in the Impanema tower and it's fine for 50 bucks a night. I don't think they need to rubuild much more so just fix what needs to be fixed.
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Old 10-14-2018, 12:39 AM   #36
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Re: Rio to be demolished for MLB park??????

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Lost in all of this discussion is the new AAA park being built in Summerlin.

And I too am one that thinks there's no chance they build on the Rio site.
correct, yes. MLB is not coming here.

/lock thread
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Old 10-14-2018, 03:20 AM   #37
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Re: Rio to be demolished for MLB park??????

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Originally Posted by John Mehaffey View Post
Atlanta also has MLB and AAA in its suburbs.

As for the Summerlin stadium, the LVCVA pledged $80 million to it less than a year ago. I have a hard time thinking they would do that if they thought MLB had a chance of being imminent. Also, Oakland seems to have resolved its MLB stadium situation.
Paying $4 million a year for 20 years for naming right of a MINOR league ballpark is complete BS. It was the city's dirty way of giving the real estate company that built and owns the ballpark (and the team I believe) free money for supporting their election campaigns.

If you look at comparable minor league ballparks, the figure is laughable! Even comparing to MAJOR league ballparks, you'll find more than half of the teams make less for the naming rights to their ballparks annually, including in major cities like Chicago.

And the kicker on everything is that the name of the ballpark is Las Vegas Ballpark, which is as generic as you can get. Talk about NOT getting your money's worth!
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Old 10-14-2018, 03:02 PM   #38
John Mehaffey
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Re: Rio to be demolished for MLB park??????

Correct. It was just a way to funnel hotel tax money into the stadium. It's laughable because LVCVA got a sales tax boost for convention center expansion at same time Raiders tax was passed, yet LVCVA is building another stadium before the convention center expansion has laid a first foot of concrete.
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Old 10-14-2018, 05:53 PM   #39
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Re: Rio to be demolished for MLB park??????

There is a near zero chance of MLB expanding to LV, in the near future. Focus your thoughts elsewhere. imo.
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Old 10-14-2018, 08:13 PM   #40
George Rice
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Re: Rio to be demolished for MLB park??????

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Originally Posted by eco74 View Post
Lost in all of this discussion is the new AAA park being built in Summerlin. I know in past times MLB didn't allow minor league teams to exist in major league cities (and yes I know that Summerlin is city of LV while the Rio site isn't), so I don't know how tough of a negotiation that would become if MLB decides to build a stadium 10 miles away.

And I too am one that thinks there's no chance they build on the Rio site.
NYC has two MLB teams and two Single A teams (Staten Island Yankees and Brooklyn Cyclones). Although the Single A teams are farm teams for the two NYC MLB teams.
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Old 10-14-2018, 09:26 PM   #41
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Re: Rio to be demolished for MLB park??????

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There is a near zero chance of MLB expanding to LV, in the near future. Focus your thoughts elsewhere. imo.
Out of curiosity, why do you think Rob Manfred explicitly mentions Las Vegas as a potential expansion city if there’s zero chance for that to happen?

According to him the list is: “Portland, Las Vegas, Charlotte, Nashville in the United States, certainly Montreal, maybe Vancouver, in Canada. We think there’s places in Mexico we could go over the long haul.”

Mexico City probably has the most upside of all those cities but also provides by far the most challenges and it’s questionable if that would be viable by 2023-25. I know that one of the big architect firms that are famous for building stadiums has been approached about a Mexico City stadium but I have no idea what their conclusions were.

One area where LV obviously trails the other 3 US markets is DMA but that metric isn’t as important anymore as it once was.

I have no idea how good the chances for Las Vegas are, but most people said that there’s no way an NFL team could ever come to town. So I think ruling out MLB would be a mistake.

Last edited by madlex; 10-14-2018 at 09:34 PM.
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Old 10-14-2018, 09:44 PM   #42
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Re: Rio to be demolished for MLB park??????

And they just built the Fight Dome out back by the pool.



We had our first show there last Friday 10/12.
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Old 10-15-2018, 02:01 PM   #43
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Re: Rio to be demolished for MLB park??????

MLB expansion, if it happens, will be Montreal and Monterrey or Mexico City. Manfred is still trying to drum up absurd offers from U.S. cities, but even LV politicians aren't dumb or corrupt enough to make it happen. He mentioned the other cities to give themselves a chance to bid against one another, so they can **** the tax payers.

Last edited by txdome; 10-15-2018 at 02:06 PM.
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Old 10-15-2018, 03:13 PM   #44
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Re: Rio to be demolished for MLB park??????

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And they just built the Fight Dome out back by the pool.



We had our first show there last Friday 10/12.
Who won, you or Mason ?
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Old 10-15-2018, 03:19 PM   #45
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Re: Rio to be demolished for MLB park??????

Since it wasn't tennis, I did.

https://www.facebook.com/curtis.edge...type=2&theater
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Old 10-15-2018, 03:34 PM   #46
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Re: Rio to be demolished for MLB park??????

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MLB expansion, if it happens, will be Montreal and Monterrey or Mexico City. Manfred is still trying to drum up absurd offers from U.S. cities, but even LV politicians aren't dumb or corrupt enough to make it happen. He mentioned the other cities to give themselves a chance to bid against one another, so they can **** the tax payers.
It's probably going to be Montreal and either Charlotte or Portland.
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Old 10-15-2018, 07:10 PM   #47
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Re: Rio to be demolished for MLB park??????

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Lost in all of this discussion is the new AAA park being built in Summerlin. I know in past times MLB didn't allow minor league teams to exist in major league cities (and yes I know that Summerlin is city of LV while the Rio site isn't), so I don't know how tough of a negotiation that would become if MLB decides to build a stadium 10 miles away.

And I too am one that thinks there's no chance they build on the Rio site.
Atlanta? There is a minor league team up north of the city off of I85 and the Braves new stadium is up north of the city off of I75......
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Old 10-16-2018, 06:45 PM   #48
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Re: Rio to be demolished for MLB park??????

Question for the locals... do you think there is enough demand (interest) to support an MLB team in Vegas?

With NFL, you have 8 home games a year which should be a piece of cake to fill. For baseball, you're looking at ~80 home games. Do you think there will be sustainable demand for that?
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Old 10-16-2018, 07:29 PM   #49
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Re: Rio to be demolished for MLB park??????

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With NFL, you have 8 home games a year which should be a piece of cake to fill. For baseball, you're looking at ~80 home games. Do you think there will be sustainable demand for that?
I'm not a local, but in general you don't need MLB teams to constantly sell out their parks. Nobody wants Marlins numbers of 25% attendance, but last season half the league was below 60% for the year.

If you build a stadium with 40k seats and average 70% attendance, you're at 28k visitors a game which would be right around last seasons MLB median.

For comparison, the Golden Knights were above 100% attendance last season.

Also don't forget that for half the games, decent seats at most MLB ballparks are cheaper than parking at a lot of NFL stadiums. So baseball could actually act as a low cost alternative for tourists who would like to see a game but don't want to spend >$100/ticket for an NHL or NFL game.
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Old 10-16-2018, 10:24 PM   #50
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Re: Rio to be demolished for MLB park??????

Baseball has revenue sharing, where even a terrible team like the Oakland A's can make a profit every year.
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