Super Bowl LVIII could bring BILLION to Las Vegas if thousands of 49ers and Chiefs fans – including Taylor Swift.

Super Bowl LVIII could bring $1BILLION to Las Vegas if thousands of 49ers and Chiefs fans – including Taylor Swift.

By Alex Raskin Sports News Editor of Dailymail.com

17:55 05 Feb 2024, updated 18:42 05 Feb 2024

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Despite being home to Muhammad Ali, Formula One races and the Stanley Cup Finals, the upcoming Super Bowl ranks as the biggest game in Las Vegas’ 119-year history.

Join a celebrity crowd that may include Travis Kelce’s girlfriend, Taylor Swift, and the February 11 Chiefs-49ers game should go down as the biggest Adult Disneyland show, surpassing Elvis Presley’s 1967 wedding to Priscilla and Evel Knievel’s motorcycle jump. . Caesars Palace fountain later that year.

So it’s no surprise that Super Bowl LVIII also represents Sin City’s history. The 68,000 fans who attend the games are expected to raise $600 million, according to the Las Vegas Convention and Visitors Authority. In addition, according to a member of the Las Vegas Super Bowl Executive Committee Jeremy Aguero, some tourists who plan to watch the game in the city’s sports books, bars, restaurants and theaters should push the economy north of $ 1 billion.

This is not unusual for the Super Bowl, which usually means a nine or 10-person bonus for the host city. A year ago, Super Bowl LVII generated $1.3 billion in revenue for the Phoenix area, according to Arizona State researchers.

Similarly, Las Vegas has already enjoyed $1.2 billion from Formula 1 in 2023 when more than 315,000 racing fans descended on southern Nevada in November for a week of practice, qualifying sessions and the opening of the Las Vegas Grand Prix.

Video shows Super Bowl LVIII logos at Allegiant Stadium on February 1
A guest has a photo taken in front of the Super Bowl LVIII banner at Caesars Palace
Kelce and Swift’s love affair is one reason why Super Bowl LVIII has become so iconic.

Of course, Las Vegas is already used to being full of tourists, unlike previous Super Bowl hosts like Detroit (1982, 2006) and Indianapolis (2012). But despite the surge in visitors to the city over Super Bowl weekend, officials are still expecting another 150,000 visitors for a total of about 450,000.

“We already knew that Super Bowl weekend is the second biggest week of New Year’s Eve, so there are 300,000 people in town on Super Bowl weekend,” Las Vegas Super Bowl Committee President and CEO Sam Joffray told The Las Vegas Review-Journal last year. ago. ‘We’ve raised another 125,000 to 150,000 shoes that will come to town for the actual game.’

As a result, hotel prices in Las Vegas have skyrocketed.

While overnight hotel rates this weekend will be around $161 in Las Vegas, this number is expected to hit $391 per night next week, according to the travel platform, Hopper.

Another estimate from experts at STR, Inc. predicting nightly hotel rates to hit $573 between Friday, February 9, and Super Bowl Sunday. The previous record for hotel prices in a Super Bowl city was set by Miami in 2020, when Chiefs and 49ers fans dropped an average of $559 a night.

And according to UNLV Director of Business and Economic Research Stephen Miller, the financial problems don’t end there.

“The market is working, and really, what’s happening is that it’s affecting Airbnb,” Miller told local ABC affiliates. ‘Uber is a market-driven price, so, depending on the demand, the price can go up.

‘What gets taxed in Vegas, stays in Vegas,’ Miller continued. ‘You have people working in the supply chain. They get paid, and if they live here in Vegas, they spend money in Vegas.’

The Super Bowl LVIII logo adorns the walkway along the Las Vegas Strip
Three locations at the Luxor Hotel and Casino have orange Doritos merchandise

It helps that Las Vegas is getting more affluent tourists – people who can afford tickets for around $12,000, according to Seat Geek.

With taxes and fees, a family attending the game can expect to pay more than $20,000, not including $30 for two beers and a couple of hot dogs at the stadium.

“The visitor that comes to the Super Bowl is a higher spender than our average visitor,” Las Vegas Convention and Visitors Authority President and CEO Steve Hill told the Review-Journal.

Profits could set records in sports books and casinos, where wealthy visitors are expected to dramatically boost Las Vegas’ weekend performance.

“We’re going to have thousands of visitors over the weekend and it’s a great way to combine the biggest show in the world every year, which is the Super Bowl, with Las Vegas entertainment,” Caesars Ken. Fuchs told the Las Vegas Sun. ‘With all the excitement and everything going on, we think we’re going to break the Nevada record for hosting the event.’

And the locals aren’t slowing down the economic boom in one weekend.

Instead, they hope to attract entrepreneurs from the gaming, technology and manufacturing sectors to encourage them to expand in Las Vegas.

“We want to take the opportunity to look around the world … to use it as an opportunity to target businesses, to target executives to bring them here,” political consultant and founder of RedRock Strategies Ryan Erwin told the Review-Journal. ‘Using the Super Bowl as a hook to showcase the great things Las Vegas and this region has to offer.

The Super Bowl LVIII logo is displayed on a pedestrian bridge on the Las Vegas Strip

“We want to be at the top of everyone’s list when they think about where I want to grow, expand or build my business,” he added.

In addition, the seminars and shopping centers used by government officials and investors ahead of Super Bowl LVIII can also be used for the development of the city’s sports.

“We want to create a plan that serves as a guide for every major event in Las Vegas,” Erwin said. ‘For Formula One, if we can have the Major League Baseball All-Star Game, the NBA All-Star Game, any major event that comes here, how do we use it to turn it into economic development around this region.’

And a city that has already attracted the NFL, NHL and WNBA, with the Oakland Athletics reportedly on the way in 2028, such plans could mean even more profits for Las Vegas in the coming years.

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