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An activist investor at one of the world’s largest online gambling firms Bwin.party is floating the idea of bringing a Major League Soccer team to the gambling Mecca of Las Vegas.
Jason Ader, who owns a New York City fund management company, says he is going to launch the $350 million effort to bring an 18,000 to 20,000 seat stadium and players with mass international appeal.
The Las Vegas Review Journal reports that Ader has discussed the viability of the Las Vegas market hosting an MLS team with MLS President and Deputy Commissioner Mark Abbott.
Las Vegas, a city that has been shunned by other professional sports leagues in the US, is competing against Sacramento, Calif.; San Diego; San Antonio; Austin, Texas; and Minneapolis for the final expansion team slot. MLS wants to have 24 teams by 2020.
“Las Vegas is a city that can support a professional soccer team. The first professional (major-league) team is not going to be basketball, baseball or football,” Ader said. “(Soccer) is an exciting prospect.”
Ader would fund much of the project with his own capital while bringing on limited Asian investors who are willing to offer up $500,000.
Ader, who also serves as a director and shareholder of the Las Vegas Sands Corp, will be competing with Justin Findlay, managing partner of Findlay Sports & Entertainment. That group is also looking to bring an MLS franchise to Las Vegas.
In May, the Bwin.party board of directors agreed to work closely with Ader and his Spring Owl investment firm through the appointment of a new director recommended by the activist investor.
SpringOwl acquired a 5.25 percent stake in Bwin.Party in February from the founders of PartyGaming, Ruth Parasol and Russ DeLeon, who sold their 14.3 percent stake as part of a divorce settlement.
- Aaron Goldstein, Gambling911.com
