The first is to promote tourism and conventions, Cabot explained. The second is to manage the convention center.<\/p>\n
\u201cIn the past 30 years, Las Vegas has evolved from an economy that was heavily dependent on casino revenue to one that is primarily based on non-casino revenues, including convention and other visitors. The LVCVA is acting responsibly by reducing costs related to the operation of the convention center,\u201d Cabot said.<\/p>\n
He further predicted the \u201cconvention business will suffer a steep decline from pre-crisis levels even after the casinos reopen. Therefore, personnel and other costs related to the convention center should be reduced.\u201d<\/p>\n
But marketing of the city may need to be expanded, Cabot said, given the pandemic.<\/p>\n
The promotion and marketing of Las Vegas for tourism and future convention should be continued and arguably increased,\u201d Cabot said.<\/p><\/blockquote>\n
\u201cPeople do not need to be persuaded that Las Vegas will return to its roots as the entertainment capital of the world. But LVCVA should use its promotional tools to convince visitors and convention organizers that Las Vegas is a leader in protecting the health and safety of its workers and guests,\u201d Cabot added.<\/p>\n
LVCVA’s Hill Hopeful for Future, Despite Rough Year Ahead<\/h2>\n One of the biggest challenges for the LVCVA is that no one knows specifically when tourism, conventions, and gaming will resume.<\/p>\n
\u201cWe\u2019re in a position where it\u2019s obviously hard to project the timing of this (recovery),\u201d LVCVA\u2019s Steve Hill told the Review-Journal<\/em>. \u201cRight now, people are just not able to travel, and that\u2019s what\u2019s causing the problem.\u201d<\/p>\n\u201cThe product that we have — everything that is Las Vegas — is still there and will be there when this is over,\u201d he added. \u201cBut the next year is going to be a rough year, and how rough that\u2019s going to be is not as predictable as our economy has been in the past.\u201d<\/p>\n
As of Friday, Nevada has seen 2,584 coronavirus cases and 86 deaths linked to the virus.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Las Vegas Convention and Visitors Authority (LVCVA) is likely to drastically cut its operating budget by millions of dollars and delay some key capital projects due to financial shortfalls from the coronavirus outbreak. During a Tuesday morning meeting, the authority is planning to reduce the current fiscal year\u2019s budget by $79 million, a LVCVA […]<\/p>\n","protected":false},"author":44,"featured_media":132783,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810],"tags":[],"acf":[],"yoast_head":"\n
COVID-19 Pandemic Leads LVCVA to Slash Budget<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n