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Doug Krizner: The real-estate market in Las Vegas may be weak, but Vegas is increasingly becoming a popular destination for business. Ashley Milne-Tyte reports.
Ashley Milne-Tyte You won’t catch the Las Vegas convention and visitors authority talking about the “city of sin.” Vice president of convention sales Chris Meyer likes to use the term “adult freedom” when describing the delights of Vegas.
He says gambling is still a huge part of what draws visitors to the city. And the numbers of tourists continue to rise. Lately, though:
Chris Meyer: We’ve probably seen a bigger explosion of the growth in the business visitor in Las Vegas, especially over the last five years.
Resorts have been expanding rapidly to attract meetings and conferences. Meyer says event organizers are drawn to Vegas in part because of the convenience — all those shops and restaurants so close together.
And there are few places in the world that can hold the numbers of conventioneers that Vegas can. Gambling still generates plenty of cash — the city drew $8.2 billion in gaming revenue last year. But convention visitors spent the same amount without even going near the tables.
I’m Ashley Milne-Tyte for Marketplace.
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