The Las Vegas Convention and Visitors Authority’s board of directors made it official today — the Wranglers National Finals Rodeo is here to stay for another 10 years.
A formality that was never in doubt, board members voted unanimously to modify and extend their sponsorship agreement with the Professional Rodeo Cowboys Association to keep “the Super Bowl of Rodeo” in Las Vegas through 2024. This afternoon’s meeting took just 20 minutes and was filled with accolades for the team of negotiators that prevented the rodeo from moving to Osceola County, Fla., or Dallas.
A representative for Las Vegas Events, which negotiated on behalf of the city’s tourism bureau, said it hasn’t been determined whether rodeo ticket prices would go up as a result of the deal, which more than doubles the amount of marketing dollars the LVCVA will put toward promoting the event and rodeos leading up to it.
After the 2014 rodeo, the last under the current agreement, the city’s financial commitment will increase from $1 million to $2.5 million with a consumer-price-index adjustment after 2019.
With the LVCVA commitment finalized, Las Vegas Events officials said there were three other revenue generation points that would be negotiated — other sponsorships, the affiliated Cowboy Christmas event and rodeo ticket prices.
Officials said they would address those with the PRCA after the 2014 rodeo is wrapped up.
Starting next year, the LVCVA, through Las Vegas Events, would allocate $1 million to promote the rodeo during the months before the event; $1.2 million to sponsor and promote the Ram National Circuit Finals Rodeos — 12 regional rodeos in 12 different cities across the country — and $287,500 to sponsor an annual PRCA steer-roping final event in Las Vegas.
The rodeo and its ancillary events attract an estimated 44,000 out-of-town visitors to Las Vegas every December, generating more than $87 million in nongaming economic impact.