Mega-events centre could bring US$393m to Las Vegas economy
by Aoife Dowling | 04 Dec 2012
A planned mega events centre at University of Nevada, Las Vegas (UNLV) could add US$393m (301m euro £244m) to the Las Vegas economy each year, according to an economic impact report.
Mark Rosentraub, an expert on economic benefits and the University of Michigan Centre for Sport Management, carried out the report.
The proposed UNLVNow complex, would feature an events centre capable of hosting 55,000 spectators as well as a student village.
The university is planning a public/private partnership with developer Majestic Reality Co.
According to the report the centre would draw at least 15 new major events annually that would have a direct economic impact locally - with more than US$66m (50.5m euro £41m) in new spending on the UNLV campus alone.
It is expected that the total direct and indirect benefits of 15 new major events is estimated at more than US$600m (459m euro £373m) annually.
Guy Hobbs, economic consultant who formally reviewed the Rosentraub report, said that while entertainment drives the Las Vegas economy, the absence of a modern facility that can host more than 20,000 places the city at a competitive disadvantage.
"There is compelling evidence that the construction and operation of a mega-events centre would not only preserve, but enhance the competitiveness of the region's core economy."
"The result will be increased visitation, more jobs, more wages and salaries, and more economic activity within the region's core tourism industry."
A planned mega events centre at University of Nevada, Las Vegas (UNLV) could add US$393m (301m euro £244m) to the Las Vegas economy each year, according to an economic impact report. Mark Rosentraub, an expert on economic benefits and the University of Michigan Centre for Sport Management, carried out the report. The proposed UNLVNow complex, would feature an events centre capable of hosting 55,000 spectators as well as a student
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