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☆ A developer is planning a commercial spaceport near Las Vegas that includes a pilot school and STEM academy
▼ + stars: | 2024-07-21 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +6 min

At least, that's what real estate developer Rob Lauer envisions with his plans to build a spaceport near Las Vegas. Lauer, a former US Army military police officer, is the CEO of Las Vegas Spaceport. The spaceport would offer educational programs for potential flyers and a STEM programA rendering of a STEM academy by Las Vegas Spaceport. As smaller companies like Las Vegas Spaceport look to enter the industry, some travelers are already excited to take flight. Las Vegas Spaceport scored a win in May when the Clark County Commission "unanimously" approved construction permits for an airstrip, according to the Las Vegas Review-Journal.

Persons: —, Rob Lauer, Lauer, George Rose, New Shephard, Jeff Bezos, Richard Branson's Virgin, it's Organizations: Service, US Army, Las, Business, Las Vegas, Billboard, Boca, FAA, Las Vegas Convention, Visitors Authority, SpaceX, Elon Musk's astronautics, Richard Branson's Virgin Galactic, Pew Research Center, Las Vegas Executive, Vegas, Clark Locations: Nevada, Las Vegas, Las, United States, Boca Chica, New, Clark, Nye County, Southern Nevada

☆ Why the NFL went all in on sports gambling
▼ + stars: | 2024-02-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

On Sunday, the NFL will hold its first Super Bowl in Las Vegas, a city built on gambling. Even in 2003, gambling was as much a part of the NFL as tailgating, helmets and shoulder pads. Yet the change in the league’s relationship with sports gambling couldn’t be more obvious as it prepares for its first Super Bowl in Sin City. That direct spending is only part of the way the NFL has learned to profit from legalized gambling. The column came four years before the Supreme Court opened the door for legal sports gambling.

Persons: ”, Victor Matheson, ” Matheson, Jeff Miller, Bud, Miller, “, Andrew Zimbalist, ” Zimbalist, Adam Silver, it’s, Zimbalist, ” CNN’s Alicia Wallace Organizations: New, New York CNN, National Football League, Super, Las Vegas Convention, Visitors Authority, NFL, College of, Gambling, Sports, Super Bowl, Caesars Entertainment, American Gaming Association, Smith College, New York Times, NBA, of Columbia Locations: New York, Las Vegas, Sin City, Nevada, ”, California, Texas

☆ Las Vegas hopes to hit the jackpot with the Super Bowl
▼ + stars: | 2024-02-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +10 min

CNN —When Super Bowl Sunday rolls around each year — whether it’s in Miami, New Orleans, Los Angeles or Minneapolis — Las Vegas still draws the crowds. It took years — and a Supreme Court ruling legalizing sports betting — for the National Football League to view Las Vegas in a different light. “We’re sold out, have been for the last month,” said Paul Hobson, general manager of the Sahara Las Vegas hotel-casino. “Las Vegas has a lot of people going there for Super Bowl weekend anyway,” Stephenson said. Additionally, the visitors it attracts spend a whole lot more than the ones who would show up on your typical Super Bowl weekend, Hill said.

Persons: they’ve, Steve Hill, ” Hill, “, Hill, We’re, ”, Paul Hobson, It’s, Aaron J, Thornton, famer Michael Irvin, ” Hobson, Noel Bowman, you’re, ” It’s, Bowman’s, “ We’ve, Vince Lombardi, Ethan Miller, Frank Stephenson, ” Stephenson, Kirby Lee, “ We’re, “ That’s, Winston Fisher, David Farris, Café Lola, George Kittle, Travis Kelce, Lin Jerome, Lola, Alexandra Lourdes, “ It’s, Felicia Parker, she’s, Parker, it’s, Harry Reid Organizations: CNN, Minneapolis —, Football, Super, Las Vegas Convention, Visitors Authority, Las Vegas, National Football League, Playmakers Party, FHM, famer, NFL, Sunday, Visitors, Las, Super Bowl, Priceline, Berry College, of Sports Economics, USA, Reuters, Bowl, Business Connect, ”, Harry, Harry Reid International Airport Locations: it’s, Miami , New Orleans, Los Angeles, Minneapolis, Vegas, Sin City, Las Vegas, Sahara, Mandalay Bay, Mount Berry , Georgia

☆ Las Vegas has invested billions into sports. The question is, will it pay off?
▼ + stars: | 2024-02-08 | by ( Natalie Rice | ) www.cnbc.com time to read: +2 min

Once known mainly for gambling and debauchery, Las Vegas has gained professional sports teams with the National Football League, the National Hockey League, Women's National Basketball Association and the United Soccer League in under a decade. The $2 billion venue was built for the NFL's Las Vegas Raiders and opened in 2020. "It's not just that the NFL's here, which is fantastic and a recognition of the maturity of Las Vegas," said Hill. Allegiant Stadium brought 1.52 million incremental visitors to the area, according to the 2023 impact report by the Las Vegas Raiders, with 88% of those visitors saying it was "the primary reason for their visit." In 2023, 40.8 million visitors flocked to Las Vegas, up 5.2% from the prior year, though still not as high as pre-pandemic levels.

Persons: that's, We're, Steve Hill, Beyoncé, Taylor Swift, It's, Eric Fernwood Organizations: National Football League, National Hockey League, National Basketball Association, United Soccer League, Major League Baseball, Las Vegas Convention, Visitors, Las Vegas Raiders, Allegiant, Estate Investment Locations: Vegas, Sin City, United States, Las Vegas

LAS VEGAS (AP) — Las Vegas proposed to the NFL in December 2021. “Let’s just marry these brands, and let’s bring the Super Bowl here,” Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority, recalled telling a room of NFL franchise owners. The betrothal culminates Sunday in a not-so-intimate ceremony at Allegiant Stadium, where the city will host its first-ever Super Bowl. He isn’t alone in his excitement: Parking spots for private jets in and around Las Vegas have all been spoken for. Strolling across that span after a major event like the Super Bowl makes for a memory that can't be recreated, Naft said.

Persons: “ Let’s, let’s, Steve Hill, Elvis Presley impersonators, Vince Lombardi, ”, Seth Kaplan, Kaplan, Guy Fieri, Jeff Frederick, isn’t, “, Michael Naft, Mark Davis, Naft, Ty O'Neil Organizations: LAS VEGAS, NFL, Las Vegas Convention, Visitors Authority, Vegas, San Francisco 49ers, Kansas City Chiefs, Maxim, Royale, Resorts, Chapel, Bellagio, Aria, MGM Resorts International, ”, Las Vegas Raiders, Super Locations: Las Vegas, Bellagio, Australia, Clark, Vegas, Nevada

Add in the potential attendance of the world’s most famous pop star, and there’ll be no blank spaces on the proverbial check Las Vegas could cash by the weekend’s end. “It helps the spectacle of the Super Bowl in general and I think that means that it benefits everyone,” he says. At least one analyst, however, quibbles with just how large the economic impact will be in reality. There is, however, concern “about displacing one type of visitor” for another because of how busy Las Vegas is many weekends already, Matheson says. “Do Super Bowl fans gamble at the blackjack table in the same way?” Matheson wonders, referring to the typical Las Vegas gambling visitor.

Persons: Taylor Swift, there’ll, ”, Curtis Dubay, Clark, Wells, Swift, Travis Kelce, Dubay, They’re, ” Victor Matheson, ” There’s, Matheson, “, ” Matheson Organizations: Vegas, U.S . Chamber of Commerce, Kansas City Chiefs, San Francisco 49ers, Sunday, city’s Convention, Visitors Authority, Chiefs, NFL, Apex Marketing Group, Front Office, College of, Super, Kansas, Allegiant Locations: Sin City, Las Vegas, Vegas, Nevada, Wells Fargo, Tokyo, Glendale , Arizona, Asia, Kansas City

LAS VEGAS (AP) — A union representing hospitality workers says it has reached a tentative agreement with six more hotel-casinos in downtown Las Vegas and called off a strike deadline for another. The agreements averted a Monday morning walkout threat at several near-Strip and downtown properties as the city kicks off Super Bowl week. The culinary and an associated bartenders union are being given more time to reach an agreement with Virgin Las Vegas, an off-Strip resort. The union then turned its attention to winning the same contract terms for workers at other hotel-casinos in Las Vegas. The NFL’s 58th championship game is expected to bring some 330,000 people to Las Vegas this week, according to the Las Vegas Convention and Visitors Authority.

Persons: Wynn Resorts —, El, a.m Organizations: LAS VEGAS, Super, Culinary Workers Union, Downtown, Virgin Las, Vegas, — MGM Resorts International, Caesar Entertainment, Wynn Resorts, Las Vegas Convention, Visitors Authority, Culinary Locations: Las Vegas, Binion’s, Four Queens, Fremont, Virgin Las Vegas, Sahara Las Vegas, El Cortez, Nevada

The president has been in Las Vegas since Sunday for campaign appearances ahead of the state's Democratic primary on Tuesday. The Culinary Workers Union, which represents hospitality workers, says it has reached a tentative agreement with six more downtown hotel-casinos and called off a strike deadline for another. Photos You Should See View All 45 ImagesBiden recently was endorsed by the United Auto Workers union. The San Francisco 49ers and Kansas City Chiefs will face off at Allegiant Stadium in Las Vegas on Sunday. The NFL’s 58th Super Bowl is expected to bring 330,000 people to Las Vegas this week, according to the Las Vegas Convention and Visitors Authority.

Persons: Joe Biden, Biden, “, ” Organizations: LAS VEGAS, Las, Democratic, The Culinary Workers Union, Culinary, United Auto Workers, Super, San Francisco 49ers, Kansas City Chiefs, Allegiant, Las Vegas Convention, Visitors Authority Locations: Las Vegas, Washington, Nevada, America

☆ Hosting the Super Bowl could be a $1 billion jackpot for these 4 cities
▼ + stars: | 2024-02-04 | by ( Cork Gaines | ) www.businessinsider.com time to read: +2 min

The estimated economic impact of recent Super Bowls in host cities has surged to over $1 billion. AdvertisementThe Super Bowl is heading to Sin City for the first time, and a lot of money is coming with it. The city typically sees about $300 million in gross economic impact during Super Bowl weekends. But this isn't the first time a Super Bowl has brought billions to a host city. According to Applied Analysis, this year's Super Bowl is expected to create 6,433 new jobs and $282 million in salaries and wages.

Persons: —, Jeremy Aguero, Aguero Organizations: Vegas, Service, Las, Las Vegas Convention, Visitors Authority, Business, Super, Arizona State University Locations: Sin City, Las Vegas, Vegas, Glendale , Arizona

LAS VEGAS (AP) — NFL Commissioner Roger Goodell sees football becoming a global sport within the next decade, with his league at the forefront of that effort. He said the league's championship game will return to Las Vegas many times after this season. Political Cartoons View All 1283 Images“I think probably I would not have said 10 years ago that I would see myself sitting here for a Super Bowl,” Goodell said. “(The NFL's) commitment to Las Vegas matters to us,” said Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority. “I am convinced that this game is going to be a global sport,” Goodell said.

Persons: Roger Goodell, Goodell, “ We’re, ” Goodell, I’m, ”, Steve Hill, Las, “, it’s Organizations: LAS VEGAS, — NFL, Las Vegas, Allegiant, CBS, Raiders, Las Vegas Convention, Visitors Authority, NFL Locations: Brazil, Spain, Las, Las Vegas, Vegas, Los Angeles, London, Germany

☆ From Sin City to Sports Central: How Las Vegas is betting big on a lucrative industry
▼ + stars: | 2023-11-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

But for many decades, the NFL and other leagues opposed having sport franchises in Las Vegas, most likely due to the city’s deeply rooted gambling industry. “Vegas fans tend to be sports fans, too, and sports have helped us expand the customer base that are willing to consider Las Vegas,” Hill said. And during the past two years, Las Vegas and other tourist-centric cities have benefitted from consumers’ post-pandemic splurges on experiences and travel versus goods. The Las Vegas Strip can be seen outside the lanai doors at Allegiant Stadium during a game on October 15, 2023, in Las Vegas, Nevada. Ethan Miller/Getty Images/FILEAs the pandemic wore on, construction continued on expanding the Las Vegas Convention Center as well as the Raiders’ Allegiant Stadium, among other projects.

Persons: ”, Andrew Woods, ” Woods, Woods, Roger Goodell —, ” Goodell, John Fisher, Steve Hill, ” Hill, Ethan Miller Organizations: Minneapolis CNN, Athletics, NCAA, NFL Pro Bowls, NBA, MLS, Center for Business, Economic Research, University of Nevada, Sunday’s, Las Vegas, Prix, UNLV’s Lee Business School, NFL, National Hockey League, Oakland Raiders, Major League Baseball, Oakland Athletics, Las Vegas Convention, Visitors Authority, UNLV, “ Entertainment Capital, Sports, Entertainment Capital, Las, Nevada Gaming Control, Getty, Las Vegas Convention Center, Raiders Locations: Minneapolis, Las Vegas, Vegas, Bellagio, Clark County , Nevada, Covid, United States, Las Vegas , Nevada

The new five-year agreement covers 5,000 employees at two Wynn Resorts properties and follows similar deals for 35,500 workers with rivals Caesars Entertainment (CZR.O) and MGM Resorts International (MGM.N) earlier this week. The deal with Wynn and the Culinary Workers and Bartenders Unions marks the end of negotiations between the unions and the largest casino operators in the city. Casino resort operators in Las Vegas have been earning record profits from a steady post-pandemic recovery. Visits to the city in September were 4% lower than in the same period in 2019, according to data from the Las Vegas Convention and Visitors Authority. The city will be hosting the Formula 1 Las Vegas Grand Prix this month and the Super Bowl, which is scheduled to take place in February.

Persons: Wynn, Daniel, Ananta Agarwal, Shivansh, Anil D'Silva, Arun Koyyur, Rod Nickel Organizations: Hospitality, Wynn Resorts, Caesars Entertainment, MGM Resorts International, Culinary Workers, Bartenders Unions, Hilton Worldwide, Hilton, Las, Vanderbilt University, Las Vegas Convention, Visitors Authority, Las Vegas, Thomson Locations: Las Vegas, United States, Bengaluru, Doyinsola, New York

☆ Wynn Resorts reaches deal with Las Vegas Unions hours before strike
▼ + stars: | 2023-11-10 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +3 min

Nov 10 (Reuters) - Hospitality workers in Las Vegas reached a tentative labor deal with Wynn Resorts (WYNN.O) hours before a strike, their unions said on Friday, ending a strike threat against major casino operators that could have crippled tourist operations in the city. Casino resort operators in Las Vegas have been earning record profits from a steady post-pandemic recovery in tourism. It also averts the threat of a major disruption to popular events expected to draw thousands of visitors to the tourist-driven economy of Las Vegas. The city will be hosting the Formula 1 Las Vegas Grand Prix this month and the 58th Super Bowl, which is scheduled to take place in February 2024. Visits to the city in September were 4% lower than in the same period in 2019, according to data from the Las Vegas Convention and Visitors Authority.

Persons: Wynn, Ananta Agarwal, Shivansh, Anil D'Silva, Arun Koyyur Organizations: Hospitality, Wynn Resorts, Caesars Entertainment, MGM Resorts International, Culinary Workers, Bartenders Unions, Hilton Worldwide, Hilton, Detroit Three, Hollywood, Wynn, Las, Las Vegas, Las Vegas Convention, Visitors Authority, Thomson Locations: Las Vegas, United States, Bengaluru, Doyinsola, New York

☆ Las Vegas unions end strike threat after reaching labor deal with Wynn Resorts
▼ + stars: | 2023-11-10 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - Hospitality workers in Las Vegas reached a tentative labor deal with Wynn Resorts <WYNN.O>, their union said on Friday, ending the threat of a strike against major casino operators that could have crippled tourist operations in the city. Casino resort operators in Las Vegas have been earning record profits from a steady post-pandemic recovery in tourism. The city will be hosting the Formula 1 Las Vegas Grand Prix this month and the 58th Super Bowl, which is scheduled to take place in February 2024. Visits to the city in September were 4% lower than in the same period in 2019, according to data from the Las Vegas Convention and Visitors Authority. "We are very pleased that we were able to reach an agreement," Wynn said in a Friday statement, adding that it was looking forward to a ratification of its tentative agreement soon.

Persons: Wynn, Ananta Agarwal, Shivansh, Arun Koyyur, Anil D'Silva Organizations: Hospitality, Wynn Resorts, Wynn, Caesars Entertainment, MGM Resorts International, Auto, Detroit, Hollywood, Las, Las Vegas, Las Vegas Convention, Visitors Authority, Thomson Locations: Las Vegas, United States, Bengaluru, Doyinsola, New York

☆ Latest Las Vegas labor deal ends threat of huge hotel strike
▼ + stars: | 2023-11-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —Friday morning in Las Vegas saw labor peace, and not a threatened strike along the Strip, as the Culinary union has reached its third tentative labor deal in three days with a casino operator. Since that peak, rents in Las Vegas have come down slightly, following national trends, and the typical rent in the city was $1,808 in September of this year. Overall, the city has about 150,000 hotel rooms, according to the Las Vegas Convention and Visitors Authority. It also eliminated a lower tier of pay for many union members and gave bigger pay hikes to some part-time workers. And about 15,000 union members have been waging a series of set-duration on-and-off strikes against 65 hotels in Los Angeles and Orange counties in California since July 4.

Persons: Wynn, “, ”, Michael Weaver, Ted Pappageorge, that’s Organizations: New, New York CNN, Wynn Resorts, MGM Resorts International, Caesars Entertainment, Caesars, MGM, Wynn Las, Las Vegas, Las Vegas Convention, Visitors Authority, Cornell University’s, SAG, United Auto Workers, General Motors, Ford, Kaiser Permanente, Teamsters, UPS, UAW — Locations: New York, Las Vegas, Wynn Las Vegas, Las, Detroit, Los Angeles, Orange, California

Casino resort operators have been earning record profits from a steady post-pandemic recovery in Las Vegas tourism. Caesars Entertainment (CZR.O), the second-biggest Las Vegas casino operator by number of employees, said the deal provides "meaningful wage increases" and aligns with plans to bring more union jobs to the Strip. Visits to the city in September were 4% lower than in the same period in 2019, according to data from the Las Vegas Convention and Visitors Authority. The city is gearing up for events including the Formula 1 Las Vegas Grand Prix this month, which is expected to draw thousands of tourists. TALKS WITH MGM, WYNN CONTINUETalks with casino operators MGM Resorts International (MGM.N) and Wynn Resorts (WYNN.O) are yet to yield an agreement ahead of Friday's deadline for a strike.

Persons: Steve Marcus, Ted Pappageorge, we've, Pappageorge, Erik Gordon, Daniel Busby, WYNN, William Hornbuckle, Wynn, Barry Jonas, Jonas, Shivansh Tiwary, Ananta Agarwal, Rod Nickel, Stephen Coates Organizations: Caesars Entertainment Corp, REUTERS, Las Vegas Sun, Caesars Entertainment, Culinary Workers, Bartenders Unions, Culinary Union, Las, housekeepers, Las Vegas Convention, Visitors Authority, Las Vegas, Companies, University of Michigan, Paris Las Vegas, Caesars, MGM, MGM Resorts International, Wynn Resorts, Wynn, Vegas . Caesars, Thomson Locations: Las Vegas , Nevada, Las Vegas, Vegas, United States, Vegas ., Bengaluru, Doyinsola, New York

An exterior view of MGM Grand hotel and casino, after MGM Resorts shut down some computer systems due to a cyber attack in Las Vegas, Nevada, U.S., September 13, 2023. The culinary workers and bartenders Unions said that 25,470 workers have a new five-year tentative agreement with MGM. Casino resort operators have been earning record profits from a steady post-pandemic recovery in Las Vegas tourism. Caesars Entertainment (CZR.O), the second-biggest Las Vegas casino operator after MGM by number of employees, said that its deal with the unions provides "meaningful wage increases." Visits to Las Vegas in September were 4% lower than in the same period in 2019, the year before the pandemic, according to data from the Las Vegas Convention and Visitors Authority.

Persons: Bridget Bennett, Ted Pappageorge, We're, Bill Hornbuckle, Wynn, Ananta Agarwal, Arun Koyyur Organizations: MGM, MGM Resorts, REUTERS, MGM Resorts International, Unions, Caesars Entertainment, Culinary Union, Las, Wynn Resorts, Las Vegas Convention, Visitors Authority, Thomson Locations: Las Vegas , Nevada, U.S, Las Vegas, United States, Detroit, Vegas, Bengaluru, Doyinsola, New York

☆ Another labor deal averts strike at 8 more Vegas casinos
▼ + stars: | 2023-11-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —The Culinary union has reached a deal with MGM Resorts International covering 25,400 members, averting a strike at eight casinos that had been set to start Friday. The deal, announced in a tweet by the union, comes a day after a similar deal was reached with Caesars Entertainment that averted a strike by 10,000 other union members at nine casinos operated by that company. A strike at almost all of the city’s major casinos would have come at a particularly bad time. He praised the MGM deal Thursday, although he would not give details. It also eliminated a lower tier of pay for many union members and gave bigger pay hikes to some part-time workers.

Persons: William Hornbuckle, “ We’re, ” Hornbuckle, Union, Ted Pappageorge, ”, that’s, Fran Drescher Organizations: New, New York CNN, MGM Resorts International, Caesars Entertainment, Wynn Resorts, Las Vegas Convention, Visitors Authority, Caesars, MGM, “ Workers, Las Vegas, Cornell University’s, SAG, United Auto Workers, General Motors, Ford, Kaiser Permanente, Teamsters, UPS, UAW — Locations: New York, Luxor, Mandalay Bay, Vegas, Las Vegas, Las, Detroit, Los Angeles, Orange, California

Casino-resort operators have been earning record profits from a steady post-pandemic recovery in tourism to Las Vegas. Visits to the city in August were just 7% lower than in the same period in 2019, according to the Las Vegas Convention and Visitors Authority. The city is also gearing up for major events including the Formula 1 Las Vegas Grand Prix this month, which is expected to draw more than 100,000 tourists. TALKS WITH MGM, WYNN CONTINUETalks with operators MGM Resorts International (MGM.N) and Wynn Resorts (WYNN.O) are yet to yield an agreement ahead of the Nov. 10 deadline for a strike. Caesars shares were up about 3% in early trading, while MGM and Wynn Resorts rose 1.6% and 0.5%, respectively.

Persons: Steve Marcus, Erik Gordon, WYNN, Barry Jonas, Shivansh Tiwary, Ananta Agarwal, Sriraj Kalluvila, Arun Koyyur Organizations: Caesars Entertainment Corp, REUTERS, Las Vegas Sun, Caesars Entertainment, Culinary Workers, Bartenders Unions, Las, housekeepers, Las Vegas Convention, Visitors Authority, Las Vegas, Companies, University of Michigan, MGM, MGM Resorts International, Wynn Resorts, Wynn, Caesars, Thomson Locations: Las Vegas , Nevada, Las Vegas, Vegas, United States, Bengaluru

☆ Hospitality workers, Las Vegas casinos in crunch time for labor talks
▼ + stars: | 2023-10-03 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +3 min

[1/2] A press conference as members of the Culinary Workers Union Local 226 ahead of 2020 presidential election in Las Vegas, Nevada, U.S., February 13, 2020. Workers are negotiating for a new five-year contract to boost wages and benefits as tourism in Las Vegas recovers from depressed visitor levels during the pandemic. The Las Vegas unions are among the most powerful in the United States, covering workers that wait tables, clean hotel rooms and prepare food. Over 3.3 million people visited Las Vegas in August 2023, a 7% decrease from levels during the same period in 2019 before the pandemic, according to data from the Las Vegas Convention and Visitors Authority. About 95% of hospitality workers voted on Sept. 26 to authorize a strike across 22 properties on the Las Vegas Strip.

Persons: Eric Thayer, Ted Pappageorge, Wynn, Pappageorge, they’d, Barry Jonas, Jonas, Doyinsola Oladipo, David Gaffen, Aurora Ellis Organizations: Culinary Workers Union Local, REUTERS, Vegas, MGM Resorts International, Caesars Entertainment, Wynn Resorts, Workers, Las, Las Vegas Convention, Visitors Authority, MGM Resorts, Caesars, housekeepers, MGM, Wynn, Thomson Locations: Las Vegas , Nevada, U.S, Las Vegas, United States, New York

☆ As Maui rebuilds, residents reckon with tourism's role in their recovery
▼ + stars: | 2023-08-19 | by ( ) www.cnbc.com time to read: +5 min

The Maui Economic Development Board says tourism is "irrefutably" the economic engine of Maui, which saw 1.4 million visitors in just the first half of 2023. About 70% of every dollar generated in Maui can be attributed to tourism, according to the board. Yet as the island looks to rebuild, residents like Keahi wonder what role tourism should play in the long road ahead to recovery. "So if they're saying Maui is closed, then there are no tourists coming in, and then we lose our jobs." "We just wanted to stay out of the way," Bailey said, adding that he understands the local residents "need time."

Persons: Hawaii's, Kapali Keahi, Keahi, Rafael Villanueva, Villanueva, that's, " Villanueva, Josh Green, Julie Sumibtay, Sumibtay, Tom Bailey, Bailey Organizations: Maui Economic Development Board, Tourism Expert, Las Vegas Convention, Visitors Authority, Las, Las Vegas, Hawaii Gov Locations: Lahaina, Maui, Nahale St, Long, America, Las, West Maui, It's, Kihei, Sacramento, California, Kaanapali, Oahu

[1/3] Las Vegas Grand Prix, Inc. CEO Renee Wilm and Terry Miller of Miller Project Management give a tour of the Las Vegas Grand Prix paddock construction site, in Paradise, Nevada, U.S., March 3, 2023. "We think this is going to the biggest sports and entertainment event of the year," Renee Wilm, the CEO of the Las Vegas Grand Prix, told Reuters. "There is no better way for Las Vegas to draw the attention of our international customers than through Formula One," Steve Hill, CEO of Las Vegas Convention and Visitors Authority, told Reuters. JUST THE BEGINNINGAnd the Las Vegas sports bonanza won't stop at the F1 finish line. Reporting by Rory Carroll in Las Vegas Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

The largest property owner on the Las Vegas Strip is doubling down and taking full ownership of the MGM Grand Las Vegas and Mandalay Bay, which the deal values at $5.5 billion. VICI currently owns a 50.1% stake in the property, which it acquired when it bought MGM Growth properties in May. Strip casinos are seeing a 20% surge in revenue through October to $6.8 billion in gaming revenue from a year ago. "It's further evidence that Las Vegas remains amongst the most in-demand destinations in the world," said Rosemary Vassiliadis, Clark County's director of aviation. And hotel revenue in Las Vegas was up 51% in October compared with October 2019, before the pandemic, according to the Las Vegas Convention and Visitors Authority.

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