live music report snsec - sporting event committeesportingeventcommittee.com/meetings/2018/09/24/pat...
TRANSCRIPT
LIVE MUSIC REPORT SNSEC
IMPACT OF LIVE MUSIC
• 85% of attendees are from out-of-market vs. traditional market
• LET of 9%; $7M gross for Rolling Stones
• Hotel room tax; overall visitor spend
• Branding - Las Vegas #1 live music destination in the world.
“Yes, [we had] net reduction of 21 shows at the T-Mobile Arena, okay? And then in addition to that, we had the seven fewer, including the Mayweather-MacGregor fight in August of 2017,
which doesn't repeat itself.”
Caesars CEO Mark Frissora Q2, Earnings Summary (7-19-18) - Call Transcript
Source: Las Vegas Convention & Visitors Authority
AVERAGE TOTAL SPEND PER VISITOR/PER TRIP
AVG. SPEND PER VISITOR
$1,320
SAW A SHOW-CONCERT
$1,530
BASKETBALL TOURNAMENT
$1,620
ROCK ’N ROLL MARATHON
$1,830
NASCAR WEEKEND
$1,860
$2,080
PBR WORLD FINALS
$2,630
NFR
Las Vegas Venues & Festival Grounds
South
Point
- 6.1 m
iles
Sam Boyd Stadium- - 9 miles
Downtown Las Vegas Events Center
Opened: 2014 Capacity: 12,000
Life is Beautiful Started: 2013
Capacity: 50,000
Las Vegas Motor Speedway - 13 miles
Las Vegas Motor Speedway Opened: 1998
Capacity: 135,000
Sam Boyd Stadium Opened: 1972
Capacity: 34,680
Las Vegas Convention Center
Opened: 1959 Square Footage: 2.2M
MGM Grand Garden Arena
Opened: 1993 Capacity: 17,000
Las Vegas Stadium Opening: 2020
Capacity: 65,000Mandalay Bay Events
Center Opened: 1999
Capacity: 12,000
T-Mobile Arena Opened: 2016
Capacity: 20,000
Orleans Arena Opened: 2003 Capacity: 9,000
Thomas & Mack Center Opened: 1983
Capacity: 17,222
Las Vegas Festival Grounds Opened: 2015
Capacity: 80,000 33 acres
South Point Arena and Equestrian Center Opened: 2006 Capacity: 4,600
Tournament Bowling Plaza Opened: 2014 Lanes: 60 lanes
MSG Sphere Opening in: 2020 Capacity: 18,000
Las Vegas Concert Venues
Sout
h Poin
t - 6.1
mile
s
Smith Center - 6 miles
Smith Center Opened: 2002 Capacity: 2,050
Brooklyn Bowl Opened: 2009
Capacity: 2,400
The Joint at Hard Rock Opened: 1995 Capacity: 4,200
Zappos Theater at Planet Hollywood
Opened: 1976 Capacity: 7,000
Park Theatre Opened: 2016
Capacity: 5,300
The Pearl at the Palms Opened: 2001
Capacity: 2,600
Colosseum at Caesars Palace Opened: 2003
Capacity: 4,298
The Chelsea Opened: 2013
Capacity: 2,500
House of Blues at Mandalay Bay Opened: 1999
Capacity: 2,500
NEW VENUES
• 360 feet tall by 500 feet• 360 degree 170,000 SF exterior in HD• 18,000 seats, with suites and luxury amenities• Sound beams sent directly to each seat• Vibrations (bass) built into floor• Use venues video and acoustics to create custom v. touring shows
WHAT HAS IT COST THE DESTINATION?
HOW DO WE MAXIMIZE GROWTH?