LVCVA financially hit by coronavirus as multiple events cancel

Local News

LAS VEGAS (KLAS) — Several conferences and conventions set to take place in Las Vegas have been canceled or postponed due to coronavirus concerns. Because of this, the Las Vegas Convention and Visitors Authority (LVCVA) is feeling the financial hit.

Nine major events, including the Adobe Summit and the Asean Summit with President Trump, have been canceled.

Right now, the Convention Center is following the guidance of the Southern Nevada Health District and the CDC.

Las Vegas is considered a low risk environment, so the Convention Center is hoping that upcoming events will continue to move forward as planned.

On Tuesday, CEO Steve Hill said that while he is hopeful that warmer weather will kill the virus in a few weeks, it will still hurt their revenue.

“The impact during that time is going to be pretty significant particularly from a room tax stand point,” Hill said. “Most of our revenue comes from room tax, the rest of our revenue comes from operating our building, so those revenue streams are going to be hit pretty significantly, we don’t know those numbers yet but it will be meaningful over that short period of time.”

Looking ahead, LVCVA says any changes or big decisions regarding the NFL Draft that is due to take place in Vegas in April, would go through the NFL and the health district.

As of right now, Hill says the draft is still fully on track. Hill also said that major construction of the Convention Center District Project and Allegiant Stadium will continue.

Their model of Allegiant Stadium, Hill says, was built to withstand a severe economic downturn.

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