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4 Million Square Feet of The $2.5 billion convention center expansion will generate an Convention Space in Development increase in demand of 500,000 visitors per year Indicative of the strong growth in convention demand, in _~ es February 2015 the Las Vegas Convention and Visitors Authority ue S52 (LVCVA) acquired the former Riviera hotel located on 23-acres for $182.5 million. A planned $40 million demolition during 2015-2016 of the former hotel will lay the foundation for a $2.5 billion expansion of the Las Vegas Convention Center, increasing convention capacity to 5.8 million square feet. The expansion will transform the current convention center, rebranded as the Las Vegas Global Business District, and support the demand growth projected to be an additional 500,000 visitors per year. Phase One is currently underway and includes developing 750,000 square-feet of new exhibit space and 187,500 square- feet of supporting meeting space, renovating and upgrading LAS VEGAS CONVENTION STATISTICS the existing facility, incorporating touch screens, faster Internet ‘ Sse mk Goer au000 speeds, new restaurants and an updated facade. Phase Il 6.5 includes the expansion onto the former Riviera site from a current total footprint of 3.2 million square-feet to 5.7 million 25,000 square-feet of space, with new street infrastructure and new E 5.5 ——— aa nee = centralized transportation hub for the entire city. Additionally, £ 5 9 5° » 15,000 2 the expansion project will include development of a new office e 9 park in the neighborhood surrounding the center. 5 a 10,000 s <x 90.2 million convention attendees in 2014 isthe highest in 6 years and 3.8 represents significant potential for growth In addition to the LVCVA space, 350,000 square feet of convention 5,000 space at Mandalay Bay and 1,000,000 square feet of convention space at Genting Group s Resorts World are under construction. 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 HOUSE_OVERSIGHT_018772