Oak View group Secures Role as Raiders’ Food and Beverage Partner at Allegiant Stadium
Las Vegas, NV — Oak View Group (OVG), a leading venue management and entertainment company, has been announced as the new food and beverage partner for the Raiders at Las Vegas’s Allegiant Stadium, effective from April 1. This marks a meaningful shift from OVG’s previous absence in the NFL F&B sector and replaces Levy, which held the position since 2019. The partnership with the Raiders represents a key milestone for OVG, expanding its reach within major sports venues.
A Premier partnership for Oak View Group and the Raiders
Chris Granger, OVG’s President, emphasized the strategic importance of the partnership, noting, “The Raiders and Allegiant Stadium stand among the premier brands in our industry. Las Vegas is an iconic entertainment hub, an environment where we are eager to collaborate.” This deal was strategically pursued by OVG, utilizing a five-year opt-out clause in the Raiders’ previous deal with Levy to initiate discussions and build rapport.
Strategic Acquisition and Organizational Growth
The transition came after proactive engagement from OVG’s leadership, resulting in an unsolicited pitch that ultimately led the Raiders to exercise the opt-out. While the specifics of other potential collaborations extend beyond the F&B realm, OVG’s primary focus remains on enhancing the venue’s sustainability initiatives and entertainment quality.
Remarkably, OVG’s complete approach in the industry stems from significant investments and acquisitions. Initial funding from Silver Lake in 2018 boosted OVG’s capabilities, especially in the F&B domain following their 2021 acquisition of Spectra, facilitating rapid expansion across NFL, MLS, NBA, and NHL venues.
Maintained Connections and Future Uncertainties
Despite OVG’s new partnership, Levy maintains a strong presence in the Las Vegas area, serving multiple venues including T-Mobile Arena, las Vegas Motor Speedway, and Las Vegas Ballpark. Additionally, the role of Egon durban, co-CEO of Silver Lake, in acquiring a stake in the Raiders remains a point of interest regarding its influence on this transition.
Conclusion
As OVG embarks on this new venture with the Raiders, the partnership underscores the company’s broadening influence in the sports and entertainment sectors, aligning with their commitment to sustainability and quality service.
how does Silver Lake’s investment in both OVG and the Raiders influence the partnership between the two entities?
Frequently Asked Questions:
Why did the Raiders switch food and beverage partners?
The Raiders exercised a five-year opt-out clause in their previous contract with Levy, opening the door for Oak View Group (OVG) to step in. OVG proactively approached the Raiders with a compelling proposal, ultimately leading to the switch.
What does this partnership mean for OVG?
This deal marks a meaningful milestone for OVG, expanding its presence in major sports venues and entering the NFL food and beverage market for the first time.
Will OVG and the Raiders collaborate beyond food and beverage?
While the primary focus is on enhancing the food and beverage experience,OVG has expressed interest in exploring other potential collaborations with the Raiders.
What role did Silver Lake play in this transition?
Silver Lake, a major investor in OVG, has a stake in the Raiders. Egon Durban, a co-CEO of Silver Lake, was involved in acquiring this stake, adding another layer of connection between the two entities.
Does Levy still have a presence in Las Vegas?
Yes,Levy continues to operate at several venues in Las Vegas,including T-Mobile Arena,Las Vegas Motor Speedway,and Las Vegas Ballpark.
What are OVG’s goals for Allegiant Stadium?
OVG aims to elevate the stadium’s sustainability initiatives and enhance the overall entertainment experience for fans.
The partnership between OVG and the Raiders highlights the growing importance of food and beverage experiences in the sports and entertainment industry.
