Late last Friday it was announced that the National Finals Rodeo would be staying in Las Vegas for another 10 years. That’s enormous good news for the Vegas economy: In 2013, the NFR brought in nearly 176,560 attendees, with an economic impact just shy of $88 million.
A previous offer from Las Vegas Events to the Professional Rodeo Cowboys Association had been rejected. The PRCA was playing both sides of the fence, signing a memorandum of understanding with Florida’s Osceola County, yet also continuing to negotiate over a possible Vegas renewal. LVE had already offered the PRCA $15 million/year to stay in Las Vegas. However, its $6.2 million in purses was hard-pressed to compete with the amounts being offered in Florida and from Dallas, a latecomer to the bidding. Osceola County was offering roughly $16 million/year, plus a brand-new stadium.
In its winning bid, LVE guaranteed $16.5 million a year in purse monies and sponsorships, slightly topping Osceola County. LVE Chairman Bill McBeath said, "This new agreement clearly demonstrates the commitment that Las Vegas has to the PRCA, to the overall growth of the sport of rodeo and to the contestants. We feel that the new agreement is beneficial to all parties, and we’re very pleased to continue to host this iconic event for an additional 10 years."
If the NFR had left, Las Vegas Events would have inaugurated its own, rival event. It will continue to host Professional Bull Riding and the World Series of Team Roping, too.
