Las Vegas Tourism Industry Faces Tough Times

The $231.2 million budget for the Las Vegas Convention and Visitors Authority – the group charged with the responsibility for attracting visitors to Las Vegas – will be punctuated by 12 months of spending cuts, a hiring freeze and ban on employee overtime. 

“We’ve had to adjust in ways we’d never dreamed of,” said board member and MGMG Mirage executive Chuck Bowling, in a board of directors meeting last week. 

The loss of $65 million from room tax is creating challenging budget choices, which is 11 percent smaller than the budget for the 2009 fiscal year. 

The authority will save $23 million in the upcoming year as a result of a decision to suspend work on a proposed $890 million renovation of the Las Vegas Convention Center.   

It will save an additional $2.4 million on salaries, wages and benefits across all departments, thanks in large part to a current hiring freeze that covers 50 open positions and tight overtime restrictions. 

Their advertising budget is not immune from the axe, as the authority shaved $3.3 million, leaving a budget of $86.5 million to advertise Las Vegas to the world. 

Declines are expected to become less steep in September, which will be one year since the Las Vegas economy went into a nose dive.

Advertisements

Leave a comment

Filed under Las Vegas, news, travel, Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s