Major conventions sign lease extensions with LVCVA

The Las Vegas Convention and Visitors Authority has a good reason to celebrate.

Both the MAGIC and SEMA conventions signed lease extensions with the Las Vegas Convention Center that are expected to bring a combined nongaming economic impact of $1.4 billion to Las Vegas the next few years. As two of the largest conventions that come to Las Vegas each year, both shows are considered anchor tenants at the convention center.

MAGIC, the Men’s Apparel Guild in California, attracts about 80,000 attendees twice yearly, while SEMA, the Specialty Equipment Market Association, draws about 130,000 people to its annual show. The estimated nongaming economic impact from MAGIC’s lease extension, which runs through 2015, is $611 million, according to the convention authority. SEMA’s extension, which runs through 2017, is expected to have an $827 million nongaming economic impact on the Las Vegas community, the authority said. The shows support about 2,000 jobs in Las Vegas.

"Those are large infusions of dollars into Las Vegas that supports jobs," Las Vegas Convention and Visitors Authority President and CEO Rossi Ralenkotter said. "That’s very important as we look to add more jobs in the future."

The two shows couldn’t seem to say enough about working with the authority. MAGIC has been coming to Las Vegas since 1989 and SEMA since 1977.

"The LVCVA is really an incredible partner," said Tony Calanca, executive vice president of exhibitions for Advanstar, which produces MAGIC. "They are hungry for the business despite having the biggest chunk of market share."

Las Vegas’ market share of the nationwide convention and meetings industry is 12.5 percent.

In 2011, Las Vegas hosted 19,029 meetings and conventions with an attendance of 4.87 million people and an economic impact of about $6 billion. Those conventions support 58,000 jobs in the city throughout the year.

"Las Vegas is a world-class venue," Calanca said. "They are built to deal with visitors, which is a fabulous thing. If the facilities aren’t big enough, it doesn’t matter what else the city has."

Las Vegas offers 10 million square feet of meeting and exhibit space. Add to that the city’s 150,000 hotel rooms, entertainment offerings and the close proximity of McCarran International Airport to the convention areas, and, Ralenkotter said, you have the primary reasons Vegas is so attractive to planners.

"All of that has allowed us to provide all the types of services and activities that convention groups look at when booking conventions," Ralenkotter added.

SEMA President Chris Kersting said it’s the little things that count when working with the city.

"We’ve appreciated a very productive and collaborative relationship with the LVCVA over the years," Kersting said. "They’ve been directly helpful to us in our outreach to attract more attendees and particularly to assist in attracting overseas visitors to the SEMA show."

Overseas customers represent new market growth for the show.

"Las Vegas is a very attractive destination from an international visitor standpoint," Kersting said.

Calanca, too, said the authority’s international programs make a difference, and he particularly has been impressed with its foreign trade missions.

"It’s an awesome program," Calanca said. "International development is a huge (focus) for us."

To help attract a strong contingent of international convention attendees, the travel authority hosts trade missions to international destinations during which the authority and six to 12 convention partners work to attract exhibitors and buyers to the Vegas shows. They also connect with the local trade and consumer media in those locales.

In June, for instance, the authority traveled to Panama and Bogotá, Colombia, aiming to capitalize on the addition of Copa Airlines to McCarran, which services 34 major cities in Central and South America.

"We’re really the only destination that does this type of marketing campaign with our trade show groups," Ralenkotter said.

The lease extensions come just before SEMA’s 2012 show, which will be in town Oct. 30-Nov. 2 at the Las Vegas Convention Center. Kersting said move-in begins in earnest on Oct. 25 and 26, but some aspects get going even earlier. Breakdown of the show lasts throughout the following weekend, Nov. 3 and 4.

An expected 2,000 manufacturers are exhibiting, and the convention authority is expecting 130,000 to attend, hailing from more than 100 countries.

"Those are record numbers in the face of a rather sluggish economy," Kersting said.

Goodwill of Southern Nevada
Under CEO John Helderman, Goodwill of Southern Nevada has expanded its services including the new home of Goodwill’s Veteran Integration Program. Free job services are paid for by revenues generated by Goodwill's retail stores. In 2017, the sale of donated goods allowed Goodwill of Southern Nevada to train more than 17,000 job seekers. More than 2,500 of those found local jobs. (Las Vegas Review-Journal)
Little bat company on verge of MLB deal
Larry Thein, part owner and one of only three employees of the Tat2 Bat Company of Davenport, Iowa, made the company's first bat in a hog barn. He spoke of the humble origins during a trade show at the Baseball Winter Meetings in Las Vegas, Nev., on Dec. 12, 2018. (Ron Kantowski/Las Vegas Review-Journal)
Texas Roadhouse opens in North Las Vegas
Texas Roadhouse has opened at on Craig Road at Bruce Street in North Las Vegas as part of an emerging "restaurant row." (K.M. Cannon/Las Vegas Review-Journal)
Holiday Parade Lights Up Downtown Summerlin
Holiday parade lights up Downtown Summerlin every Friday and Saturday night through Dec. 22.
Nevada's solar industry on the rebound
In 2015, the Nevada Public Utilities Commission voted in favor of a new tariff structure that reduced net energy metering buyback rates and increased fix fees for residential solar customers.
Apartment complexes selling fast in Las Vegas
Las Vegas’ apartment vacancy rate is among the smallest in the country, and rents are climbing faster than the national average. (LVRJ)
Aristocrat Opens $45M Campus In Summerlin
Aristocrat Technologies Chairman Ian Blackburne discusses the company's growth. (LVRJ)
Sunrise Hospital celebrates 60 years
Sunrise Hospital opened its doors to patients on Dec. 15, 1958. Employees of more than 35 years celebrated at a luncheon Wednesday, Dec. 12, 2018. Jessie Bekker/ Las Vegas Review-Journal.
Maya Cinemas to open soon in North Las Vegas
Moctesuma Esparza, CEO of Maya Cinemas, talks about the newest location in North Las Vegas, set to open Jan. 10. The aim of the theatre chain is to serve latino-centric, underserved communities.
Holiday shopping and returns make this the busiest time of year for UPS
The UPS Las Vegas South facility is the company's busiest pre-load operation in the country, and it's even busier this time of year. (K.M. Cannon/Las Vegas Review-Journal)
Primm’s outlet mall has fallen on hard times
The mall, attached to Primm Valley Resort, opened in 1998. Back then, it was a “textbook, perfect outlet-center location." But now, Primm’s outlet mall has fallen on hard times. Las Vegas Boulevard has endless shopping spots. And there are other outlet malls that don’t require a hefty drive to the state line. Its mortgage-holder foreclosed on the mall in late September.
Miltary auction at Ritchie Bros. Auctioneers
Humvees, ammo cans, construction equipment, field gear and more is on the auction block Friday and Saturday at Ritchie Bros. Auctioneers. About 10,000 items in all are for sale in what GovPlanet bills as the largest auction of its kind.
Las Vegas residents discuss avoiding holiday scams
Las Vegas residents discuss their donation habits and how they avoid giving money to scam charities during the holiday season. (Bailey Schulz/Las Vegas Review-Journal)
Tesla’s Nevada Gigafactory ahead of economic impact expectations
The Tesla Gigafactory’s economic impact on Nevada has exceeded projections, bringing in more than 7,000 jobs. In 2014, Nevada agreed to give the automotive and energy company $1.3 billion in tax abatements. In return, Tesla promised to meet certain requirements in areas like employment and capital investment. As of June, Tesla has brought in a total of $6.05 billion in capital investment, surpassing the $4.95 billion projection. The original contract gave the company until 2024 to make $3.5 billion in capital investments in Nevada. Derek Armstrong, deputy director of the Governor’s Office of Economic Development.
Land sales near the Las Vegas Raiders stadium
Land around the Las Vegas stadium site has been selling for high prices. A few months before the stadium’s groundbreaking, Global Trust Group acquired a 2.5-acre parcel just north of the stadium site. The property sold for $7.25 million, or $2.9 million an acre. Osprey Real Estate Capital and Huntington Hotel Group acquired a 2-acre industrial site just west of the stadium site in late November. The property sold for $6.5 million, or $3.15 million per acre. That's roughly 12 times the average price of land in the valley this year as tracked by Colliers International.
T-Mobile Tech Experience Truck parks in Toshiba Plaza at T-Mobile Arena
The Tech Experience Truck is a state-of-the-art showroom on wheels, with demonstrations that put connected drones, smart cities, augmented/virtual reality and smart tracking. The exhibit shows new wireless technology – including 5G and the Internet of Things (IoT). (K.M. Cannon/Las Vegas Review-Journal)
Steve Siegel, CEO of the Siegel Group, speaks about helping families and other needy residents
Steve Siegel, CEO of the Siegel Group, speaks about helping families and other needy residents to keep them from teetering off into homelessness. Bizuayehu Tesfaye/Las Vrgas Review-Journal @bizutesfaye
Crowds camp out for Chick-fil-A opening
Dozens of customers camped out 24 hours ahead of the 6 a.m. Thursday opening of the new Chick-fil-A on Rainbow Blvd.
Cheapest listings for sale in Las Vegas
Listed for $39,990, 585 S. Royal Crest Circle, Unit #9 is one of the cheapest homes currently listed for sale in Las Vegas. (Caroline Brehman/Las Vegas Review-Journal)
MGM's sports betting deals
MGM Resorts International signed a sports betting sponsorship agreement with the NBA in July It was the first professional sports league to have official ties with a legal sports betting house. The deal came just two months after the U.S. Supreme Court overturned a law prohibiting sports betting in most states. In October, MGM became the first gaming company to sign a sports betting partnership with the NHL. In November, MGM became the first gaming company to sign a sports betting partnership with the MLB. Financial terms of Tuesday’s deal and earlier partnerships have not been announced.
Terry Miller discusses Convention Center
Project Manager Terry Miller explains the phases of Convention Center construction.
Zappos treats their team members on Cyber Monday
Zappos rolls out a variety of food, drinks and special activities for all team members at their downtown Las Vegas headquarters for Cyber Monday. (K.M. Cannon/Las Vegas Review-Journal)
Team Hybrid at the 2019-Model Motor Trend International Auto Show
Among the companies showing off the 2019 model cars, Team Hybrid shows off its modified cars. Las Vegas resident David David talks about the team, which is in its ninth year exhibiting at the show, and his show car.
Black Friday Shoppers at downtown Summerlin and at the Arsenal
Black Friday shoppers at downtown Summerlin and at the Arsenal. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfYe
Black Friday shopping in Las Vegas
Black Friday sale shopers express their shopping experience. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Las Vegas Livestock recycling Strip food waste
Las Vegas Livestock collects and recycles food from many Las Vegas Strip companies. (Nicole Raz/Las Vegas Review-Journal)
Black Friday at Fry's
Shoppers line up for deals early on Black Friday at Fry's Electronics on Las Vegas Boulevard South. (Mat Luschek/Las Vegas Review-Journal)
Black Friday shoppers at Best Buy at 5 am
Black Friday shoppers at Best Buy at 5 am on Nov. 23. (Mat Luschek/Las Vegas Review-Journal
Black Friday - 1am Closing Time
Quiet night.
Black Friday - 12:30am - Best Buy Arroyo Crossing
News Headlines
Home Front Page Footer Listing
You May Like

You May Like