VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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TOURISM TOURISM LVCVA SINGS A NEW TUNE ON ELECTRIC DAISY CARNIVAL By Richard N. Velott asenior staff writer The Las Vegas Convention and Visitors Authority took a pass on getting involved with last month’s Electric Daisy Carnival at the Las Vegas Motor Speedway. But last week, authority board members were singing a different tune. After a report from Las Vegas Events President Pat Christenson on recent special events, several board members spoke about developing a closer relationship with producers of the three-day electronic music rave. “There was less trouble there COME ONE, COME ALL: Foot traffi c along Las Vegas Boulevard has increased for 15 consecutive months, according to the LVCVA. Visitation Numbers Continue To Climb Citywide occupancy rates also WITH INCREASED TOURISM, ROOM RATES RISE NEARLY TEN PERCENT, REPORT SAYS By Amanda Finneganstaff writer May brought Las Vegas its 15th consecutive month of visitation and room rate gains , according to a monthly report from the Las Vegas Convention and Visitors Authority. The number of visitors for May increased by 3.3 percent from 3.26 million in 2010 to 3.37 million in 2011. Room rates for the month increased nearly 10 percent, from $99 last year to $108 this May . | 18 JULY 2011 | Vegas then increased during the past year, from 82.6 percent to 86.1 percent. Convention attendance during the year-over-year period was flat with last year, but the number of meetings held during May increased from 1,577 to 1,753. Gaming win on the Strip increased 28.9 percent from $450.2 million in May 2010 to $580.4 million in May 2011, the largest increase since February 2010. In Clark County, gaming revenue increased nearly 20 percent to $853.5 million. The LVCVA said the increases were boosted by strong baccarat play and sports betting. AT McCARRAN Passenger traffi c at McCarran International Airport was up 5 percent during the year-over-year period and down 1.7 percent at the Nevada/California line. Pick ’Em Get smart ELSEWHERE IN SOUTHERN NEVADA Visitation in Laughlin fell 2.5 percent from May 2010 to May 2011, and increased by 1.3 percent in Mesquite. Power Lunch CLICK THIS! Monthly visitation and room rate reports are available online at lvcva.com/press/ statistics-facts/index.jsp .com Buy high Sell low VEGASINCmag The Numbers REAL ESTATE INVESTORS SNAP UP FORECLOSURE INVENTORY IN JUNE By Buck Wargostaff writer The demand for bank-owned Power tweets Sin City Media properties in June spurred a jump in Southern Nevada home sales. In fact, it was one of the largest in history and prompted prices to fall even further. The Greater Las Vegas Association of Realtors reported July 8 that the 3,629 sales of single-family homes on the Multiple Listing Service are up 16.7 percent over May and 8 percent higher than June 2010. Condominium and town home sold rose in June 4,540 Overheard Done Deal The number of sales of homes and condos in June, up from 3.991 in May and up from 4,265 in June 2010. Chatter We hear Executive class with 911 sales, 3.5 percent higher than May and 0.7 higher than June 2010. GLVAR President Paul Bell said the June sales figures were the third-best month ever of existing YOUR AD HERE Read this! The Pitch is back SEE HOME SALES PAGE 12 NOW SERVING LAS VEGAS 95 VEGASinc2021 Gate keeper American dream $ Moonlighting 11 27 Number of felony arrests reported during the three-day Electric Daisy Carnival, most for possession of illegal narcotics. There were also 31 misdemeanor arrests. About 230,000 people attended. than at similar events on the Strip,” said new board SEE LVCVA PAGE 12 SAM MORRIS