Major Las Vegas Property Getting $600 Million Renovation
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Las Vegas has a lot of construction projects going on. Fontainebleau Las Vegas is going to be ready late-2023. Caesars Entertainment is rebranding Bally's Casino into Horseshoe brand. Baly's Corporation wants to use that name on a revamped Tropicana. There are two NBA-ready arena projects and a deal for a stadium for the Oakland Athletics. The pending rebranded of the Mirage into a Hard Rock is also going ahead.
The pandemic put group events and conventions in Las Vegas on hold. This year's Consumer Electronics Show had an in-person exhibition after being virtual in 2020. Since CES in early January, conventions have slowly worked their way back to normal. MGM CEO Bill Hornbuckle expects convention room nights to reach 90% of 2019 levels in the back half of 2022. The biggest shows take place at the Las Las Vegas Convention Center.
The Las Vegas Convention and Visitors Authority's board of directors approved its 2022-2023 budget on May 23. It includes funds for the renovation of the LVCC. Renovating the venue will keep it up to the standards required to host conventions. The renovation will be done around major conventions so they won't have to go elsewhere during the building process.
