Las Vegas Events and the Professional Rodeo Cowboys Association (PRCA) officials came to an agreement recently that will keep the National Finals Rodeo (NFR) in Las Vegas through 2024. Las Vegas Events, producer of the annual event, guaranteed an annual purse of $16.5 million as a key component of the deal. The new contract applies to the NFR performances beginning in 2015.
The PRCA had rejected the city's proposal in December 2013 to retain the event (see recent LVE article linked below), and had entertained a bid by Osceola County, FL to wrest the rodeo away from its 29-year Las Vegas home. The Florida group had offered $4 million more than that submitted by Las Vegas Events at the time. Further negotiations between the two parties resulted in an agreement reached on Jan. 24, 2014 that will keep the popular rodeo event in Las Vegas for another ten years.
The NFR produces a huge economic impact for the local Vegas economy and many businesses depend on that draw for viability during the historically slow tourism activity in town during early December. The 2013 NFR drew more than 176,000 attendees during its ten-day run and produced a non-gaming economic impact of nearly $88 million this past December.
Money talks...and the rest walks.
Article info source = Fox5Vegas / KVVU