LAS VEGAS — New developments and major events, including the Super Bowl and the Formula 1 Las Vegas Grand Prix, will arrive in Las Vegas in the coming years, making the city an even more important hub for the events and exhibitions industry.
Las Vegas is home to some of the biggest trade shows, like CES, which was held earlier this month and brought 115,000 visitors to the city. And Las Vegas isn’t slowing down. With expansions, investments, and major sporting events on the agenda, Trade Fair Manager was on hand 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 featured important updates on developments underway in the city that will positively impact the trade show and exhibition industry.
Development Updates
The nearly $2.8 billion MSG Sphere is expected to open in the second half of this year. It will house the world’s highest-resolution LED display and will accommodate up to 20,000 visitors, among other cutting-edge features such as haptic functions. The venue is expected to become the world’s largest spherical structure and will feature a revolutionary toolbox of multi-sensory experiences, three football fields of LED lights, 4D scent and air systems, haptic seating and 164,000 speakers to take special events, education, exhibitor reveals and concerts to the next level.
“This is the birthplace of a new medium that will change entertainment forever,” said Lucas Watson, president of MSG Sphere.showcased the future of entertainment where artists and creators bring their visions to life through immersive experiences. “It will take audiences on journeys they never could have taken before,” Watson said.
Hollywood filmmakers are already designing experiences, and musical residencies are planned for the new facility. But you don’t have to be a Hollywood filmmaker to create an experience. Live entertainment producers will be able to work with MSG Sphere to create experiences that fit their vision, Watson explained at a special press conference following the Preview Las Vegas event. The Sphere will also complement the Formula 1 race which will take place in November.
Stefano Domenicali, President and CEO of Formula 1, addressed members of the Las Vegas Chamber of Commerce to affirm Formula 1’s commitment to building a long-term relationship with the city. In fact, the Las Vegas Formula 1 Paddock, the venue for the Formula 1 Grand Prix, was inaugurated.The Formula 1 assembly area will be transformed into a year-round reception area. The 300,000-square-foot, four-story structure, located at the northeast corner of Harmon Avenue and Koval Lane, is expected to be a LEED-certified building. Other features include VIP spectator areas and a rooftop terrace.
CES is back! CTA beat its own expectations and attracted over 115,000 attendees, expanding to NSF to showcase the latest technologies and trends from around the world
Venues are stepping up to meet demand and create fear of missing out around the highly anticipated event by offering VIP experiences. Caesars Entertainment, for example, has pulled out all the stops with its $5 million Emperor VIP package. The package includes a stay at the famed Nobu Villa to watch the race from its terrace, menus curated by Michelin-starred chef Nobu Matsuhisa, a private driver, spa treatments and tickets to an Adele concert.
Las Vegas also attracts sporting events and is already home to eight professional teams. The LVCVA has helped host some major sporting events, including the NFL Pro Bowl in February 2023, the Las Vegas by Tour de France stage in May 2023, the Formula 1 Las Vegas Grand Prix in November 2023, Super Bowl LVIII in February 2024 and the NCAA Men’s Final Four in April 2028.
“The whole 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 LVCVA“We will show the world why we are first class.”
The LVCVA Board of Directors has approved a $600 million renovation of the Las Vegas Convention Center (LVCC), which will begin in April and is expected to be completed by the end of 2025. The renovation will modernize the exterior of the South Hall to create a new entrance, add a climate-controlled connector that will allow attendees to move to and from each exhibit hall inside, and is designed to resemble the new West Hall, which opened in 2021.
Over the next few years, Las Vegas is planning more than $15 billion in new investments. The 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. Renovations and reinvestments are also planned throughout the city, including the renovation of the New York-New York and the renaming of the Mirage to the Hard Rock Hotel.
Plans have been approved to expand the Vegas Loop by 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.
Special attention paid to sustainability
Sustainability remains a priority throughout the Las Vegas hospitality community, with many major casino companies developing off-site solar farms, using solar power to offset energy use and finding ways to conserve water.
Wynn and Encore Las Vegas have built 2 MW of rooftop solar, are securing 20 MW from the Wynn solar facility in Stillwater, Nevada, and report that renewable energy provides up to 75% of the facilities’ peak electricity demand during the summer.
At The Venetian Resort, 100% of the 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 at the Palazzo Resort, street cleaning and cooling towers.
Waste reduction initiatives of all kinds are being implemented across Caesars properties, which in 2021 diverted 40% of waste from landfills. The MGM Resorts Mega Solar Array generates up to 90% of the daytime electricity needs of MGM Resorts in Las Vegas, which consists of 13 properties with more than 36,000 rooms and 65 million square feet of building space. But that’s not all. Caesars is also optimistic about its DEI initiatives and creating a sustainable workforce that reflects its dedication to the communities it serves. Ambitious goals include 50% women and African American leadership positions and a strong focus on diversity in the creation and implementation of retention and succession plans, as well as implementing mentorship programs in workforce development planning.
Contact Steve Hill at (702) 892-2801 or shill@lvcva.com; Stefano Domenicali at sdomenicali@fomltd.com
Photo courtesy of Caesars Entertainment.