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Sheldon Adelson pulls out of Raiders-Las Vegas stadium deal

Las Vegas Sands Corp. Chairman and CEO Sheldon

Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson testifies in court in Las Vegas on May 5, 2015. Credit: AP / John Locher

LAS VEGAS — 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.

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