LAS VEGAS — New developments and big-name events, including the Super Bowl and Formula 1 Las Vegas Grand Prix, are coming to Las Vegas in the coming years, making the city an even bigger hotspot for the events and exhibition industry.
Las Vegas is home to some of the largest trade shows, such as CES which took place earlier this month and brought 115,000 attendees to the city. And Las Vegas is not slowing down. With expansions, investments and major sporting events on the docket, Trade Show Executive was on the ground with the Las Vegas Convention and Visitors Authority (LVCVA) and Caesars Entertainment for Preview Las Vegas, the annual update hosted by the Las Vegas Chamber of Commerce. The event showcased important updates on the ongoing developments in the city that will positively impact the trade show and exhibition industry.
Development Updates
What is expected to be a major disrupter in the experiential space is the nearly $2.8 billion MSG Sphere, which is expected to open in the second half of this year and will house the world’s highest resolution LED screen and will hold up to 20,000 visitors among other cutting-edge features like haptic features. The venue is expected to become the largest spherical structure in the world and has a disruptive toolbox of multi-sensory experiences, three football fields worth of LED lights, 4D scent and air systems, haptic seats and 164,000 speakers to take special events, education, exhibitor reveals and concerts to the next level.
“It is the birthplace of a new medium that will change entertainment forever,” said Lucas Watson, President of MSG Sphere. Dubbed the future entertainment where artists and creators bring visions to life through immersive experiences, “It will bring audiences on journeys they could never go on before,” Watson said.
Already, Hollywood directors are designing experiences, and musical residencies are anticipated in the new structure. But, you don’t have to be a Hollywood director to create an experience. Show producers will be able to work with the MSG Sphere to create experiences tailored to their vision, explained Watson at a special press conference after the Preview Las Vegas event. The Sphere will also compliment the Formula 1 race set in November.
Stefano Domenicali, President and CEO of Formula 1, spoke to the Las Vegas Chamber of Commerce members stating Formula One’s dedication to long-term relationship with the city. In fact, the Formula 1 Las Vegas Paddock, the working area of Formula 1, will be transformed into a year-round venue space. The 300,000-square-foot, four-story structure, located on the northeast corner of Harmon Avenue and Koval Lane is anticipated to be a LEED certified building. Additional highlights include VIP spectator zones and also a rooftop terrace.
Venues are stepping up to meet demand and generate FOMO around the highly anticipated event with VIP experiences. Caesars Entertainment, for instance, has pulled out all stops with its VIP Emperor Package. Priced at $5 million, the package includes a stay at the famous Nobu Villa to watch the race from its terrace, curated menus from Michelin-starred Chef Nobu Matsuhisa, a private driver, spa enhancements and tickets to an Adele concert.
Las Vegas is also attracting sporting events and is already home to eight professional teams. The LVCVA helped secure some major sporting events including NFL Pro Bowl in Feb. 2023, L’Étape Las Vegas by Tour de France in May 2023, Formula 1 Las Vegas Grand Prix in Nov. 2023, Super Bowl LVIII in Feb. 2024 and the NCAA Men’s Final Four in April of 2028.
“The entire world will be watching us next year. These are the two biggest events of my life in Las Vegas,” said Steve Hill, CEO and President of the LVCVA. “We are going to show the world why we’re category one.”
The LVCVA Board of Directors approved a $600 million renovation to the Las Vegas Convention Center (LVCC), which will begin in April and is projected to be complete by the end of 2025. The renovation will upgrade the exterior of the South Hall to create a new entrance, add a climate-controlled connector that allows attendees to move to and from every exhibition hall indoors and has been designed to resemble the new West Hall, which opened in 2021.
Over the next several years, Las Vegas expects more than $15 billion in new investment. Fontainebleau Las Vegas is expected to open in the fourth quarter of 2023, with 3,700 rooms and 550,000 square feet of meeting space, and there’s also renovations and reinvestments around the city, including the remodeling at New York-New York and The Mirage rebrand to Hard Rock Hotel.
Plans were approved to expand the Vegas Loop for 29 miles and more than 55 stops throughout the resort corridor including Downtown Las Vegas, Allegiant Stadium and Harry Reid International Airport. The $52 million project is the first commercial project of its kind and will allow visitors to travel along the sustainable underground transportation system in all-electric Tesla vehicles.
A Focus on Sustainability
Sustainability remains a priority throughout the Las Vegas resort community, with many major casino resort companies developing offsite solar arrays, using solar to offset energy consumption and finding ways to conserve water.
Wynn and Encore Las Vegas built 2 MW of rooftop solar, gets 20 MW from the Wynn Solar Facility in Stillwater, Nev., and reports that renewable energy provides up to 75% of the facilities’ peak power demand during the summer.
At The Venetian Resort, 100% of its electricity used is powered by renewable energy sources, and 25 million gallons of groundwater is recycled and used for a variety of purposes including irrigation in The Palazzo Resort, street cleaners and cooling towers.
Initiatives to reduce waste of all kinds are happening across Caesars properties, which in 2021 resulted in 40% of waste diverted away from landfills. The MGM Resorts Mega Solar Array produces up to 90% of MGM Resorts’ Las Vegas daytime power needs, which consists of 13 properties with more than 36,000 rooms and 65 million square feet of building. But that’s not all. Caesars is also bullish on its DEI initiatives and creating a sustainable workforce that reflects its dedication to the communities they serve. Aggressive goals include 50% women and African American community in senior leadership positions and a strong focus on diversity as they create and implement retention and succession planning, along with implementing mentorship programs in their workforce development planning.
Reach Steve Hill at (702) 892-2801 or shill@lvcva.com; Stefano Domenicali at sdomenicali@fomltd.com
Photo courtesy of Caesars Entertainment.
