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Effect on Vegas

The Las Vegas Convention and Visitors Authority has announced that more jobs are endanger in the region because of a huge drop in the number of conferences that have been cancelled over the past six months. The land gambling companies and resorts have indicated that besides the intense competition from the online casinos, the land resorts are fighting hard against stereotypes and assumptions that have companies avoiding Las Vegas as a conference destination at all costs. As these conferences are cancelled it has had a rippling effect throughout the industry. The conference venues and hotels have relied on the conferences as a way to supplement revenues and profits since the casual and destination gamblers are either pinching pennies or choosing to gamble online from their homes.

The LVCVA released the latest figures on the situation – apparently Vegas has lost as much as $166 million over the past several months in revenue that was anticipated and then lost once the conferences were cancelled. At a time when US citizens are fighting to keep their jobs, there is every likelihood that another round of layoffs are in the works in the Las Vegas area if the planned conferences continue to cancel. When the companies cancel, not only do the convention centers lose out on the money, but the hotels lose out of bookings and the casinos lose out on gambling revenues.

Right now, the LVCVA has begun a campaign to once again promote conference travel to Las Vegas and eliminate the image that conferencing in LV is a negative and excessive luxury. Without some positive changes in the coming months to this alarming trend of cancelled conferences, layoffs are on the horizon.