When Sports Event Promoters Come To Las Vegas, They Have A Friend Called The LVCVA
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By Alan Snel, LVSportsBiz.com Publisher-Writer
Not only did Southern Nevada help subsidize the construction of the Raiders’ Allegiant Stadium, metro Las Vegas also pays public dollars to bring programming for the lavish stadium.
It’s done in the name of tourism.
That’s what the Las Vegas Convention and Visitors Authority (LVCVA) says.
This month, the LVCVA board approved $2,550,000 for a National League Rugby sponsorship to help subsidize the international rugby event at Allegiant Stadium in 2025, 2026, 2027 and 2028. Each year, the LVCVA will spend from $600,000 to $675,000 to the rugby event promoter.
The LVCVA will also give $1.6 million in public dollars to the NBA for the pro basketball league to stage its NBA Cup event in December 2024 after the NBA held the NBA Cup in-season tournament in 2023.
There’s more.
The LVCVA will spending $525,000 on a sponsorship for National Football Foundation (NFF) and
College Hall of Fame, Inc. for the annual NFF Awards Dinner in Las Vegas in December 2024 – 2026.
It was at this LVCVA meeting that the board also approved an F1 race-related event to the tune of $1 million in public dollars. The downtown Las Vegas music festival Nov. 22-24 was approved in hopes tourists in town for the Formula One Las Vegas Grand Prix will check out downtown after downtown businesses said they did not see financial benefits from last year’s F1 road race in the Strip corridor. It’s called the Neon City Festival and it will be staged at the Fremont Street Experience.
Speaking of the LVCVA and F1, the Las Vegas Grand Prix announced Monday that the LVCVA is an official partner of Formula 1.
Most observers had assumed the LVCVA was already a business partner of F1, especially after the public tourism agency agreed in 2022 to a $19.5 million, three-year sponsorship deal for the F1 event.
The F1 announcement also included an unsubstantiated claim of an economic impact in Las Vegas that LVSportsBiz.com will not publish because the number’s methodology was not explained and it cannot be verified.
