Big Events Help Struggling Las Vegas Economy - 8 News NOW

Big Events Help Struggling Las Vegas Economy

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LAS VEGAS -- Despite an expected population drop, which is just another sign the Las Vegas economy is struggling, there is one industry that continues to thrive and is helping our economy survive.

When big events are in town, the winners and casinos aren't the only one's cashing in.

According to demographers, a lack of construction and record-high unemployment, means a population drop of tens of thousands. Despite the sluggish economy, major events continue bringing in major dollars.

The annual Sema convention just wrapped up, and while no hard numbers have been calculated, officials with the Las Vegas Convention and Visitors Authority say attendance increased along with the amount of money the event brought in.

"The projections we were hearing was about 110,000 and the economic impact was $106 million," said Vince Alberta with the LVCVA.

Other major events that will be here are the National Finals Rodeo and also the Las Vegas Rock and Roll Marathon. Events that will easily amount to hundreds of millions to the economy.

"That gives you an idea of what special events mean to this community. It sustains jobs, creates jobs and it is a economic stimulus," said Alberta.

Even the World Series of Poker, with close to $9 million going to the winner, pays off big for the city. The fans who came just for the event plan to spend. While some do plan to gamble, others also plan to enjoy the city.

Officials with the LVCVA say major events and conventions really do two things: besides bringing the tourists in, they also create plenty of exposure for the city.

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