Las Vegas’ first-ever Super Bowl at Allegiant Stadium is over two years away, but organizers have already started planning for what could be the biggest single-event economic boom in the city’s history.
The Super Bowl 2024 host committee needs $ 60 million to prepare for the game and associated festivities. On Tuesday, the association will ask the board of directors of the Las Vegas Convention and Visitors Authority for up to $ 40 million of that total. The remaining $ 20 million is expected to be raised through fundraising.
Representatives of the LVCVA, which is funded largely by taxes on hotel rooms, declined to comment until Tuesday’s meeting.
The Super Bowl host committee for last year’s game reported a total economic impact of $ 571.9 million and 4,597 full and part-time jobs for the Tampa, Florida area when it hosted the Super Bowl LV.
The $ 60 million in seed capital for Super Bowl LVIII, slated for Feb.11, 2024, is required by the NFL, which has hosted its championship game in several different cities across the country over the years.
The Super Bowl won’t be Las Vegas’ first partnership with the NFL. LVCVA’s board of directors in February 2020 approved up to $ 2.4 million to host the NFL draft in Las Vegas. The city was scheduled to host the draft in April 2020, but the COVID-19 outbreak has postponed that party until this year.
The board of directors also approved up to $ 1.75 million in July 2020 to host the 2022 Pro Bowl, which will be played at Allegiant Stadium on February 6.
It is important to note that the organizing committee does not seek to spend money solely on the game itself.
At least a week of festivities will lead up to the game, including a festival of fans of the Super Bowl experience; a media center and media night for over 6,000 active members of the national and international press covering the week from Las Vegas; âOpening Nightâ and âNFL Honorsâ live television broadcasts; a series of shows and concerts; sponsor activations; corporate hospitality events; and other activities that will boost tourism to the city and spotlight Las Vegas as the sports and entertainment capital of the world.
The NFL has earmarked $ 20.8 million for direct operating costs. These include:
– $ 3.85 million in personnel costs.
– $ 3 million in sponsorship – collateral and promotional material.
– $ 3 million for public security, including the police, firefighters and emergency services.
– $ 2.7 million in advertising, marketing and decoration.
– $ 1.65 million for media, public relations and hospitality.
– $ 1.6 million for other expenses such as office space, professional services and insurance.
– $ 5 million for contingencies.
There are costs associated with the event of $ 39.2 million. These include:
– Refund of $ 17 million to the NFL.
– $ 6 million in stadium costs.
– $ 2 million for hotels and meeting spaces.
– $ 2.5 million for parking and transportation.
– $ 2.2 million for Super Bowl events.
– $ 5 million for tickets and suites.
– $ 1.25 million for volunteers.
– $ 750,000 for permits.
– $ 1.5 million for other expenses, including practice facilities, technology and an accreditation center.
– $ 1 million for contingencies.
The Host Committee, chaired by Maury Gallagher, CEO of Allegiant Travel Co., will oversee the full-time temporary staff who will be hired to perform Las Vegas obligations as the host of Super Bowl LVIII. The LVCVA, in conjunction with the Host Committee, will serve as a liaison between the NFL, resort and community stakeholders, and local government agencies.
It is clear that with a Super Bowl on the calendar, the public’s significant investment in the Allegiant Stadium will more than pay off within two years. By now, everyone should know that the facility isn’t just for the Raiders – although the eyes of the NFL world will be on Allegiant for Sunday’s prime-time game between the Raiders and the Los Angeles Chargers.
The Allegiant Stadium is the premier venue for dozens of special events that contribute to the valley’s economic prosperity.