The Las Vegas Convention Center has been given a unaninmous go-ahead approval for an $890 million upgrade by the Las Vegas Convention and Visitors Authority. The previous estimate was $737 million.
Without the costly upgrades, the eventual decline in business could end up costing the Convention Center $5 billion and 9 million potential attendees.
Work is expected to begin next year with the majority completed in 2010 and 2011.
Trade show business is a booming and competitive business, with the average person spending more than twice as much as the average tourist. In 2006, convention attendees spent $8.2 billion while visiting Las Vegas, and we’re not even talking about gambling losses.
How much did Las Vegas casinos win from gamblers in 2006? $6.7 billion. That’s $1.5 billion less than what was made from trade shows.