October 15, 2024
New Report from NSB’s Private Bank Explores Economic Impact of Sports in Las Vegas
LAS VEGAS – The Private Bank by Nevada State Bank released the latest edition of the High Net Worth Report series today. Issue 3 of 2024 explores the emergence of Las Vegas as a global sports hub and its growing economic impact in Southern Nevada. The report provides an in-depth analysis of how major sporting events and professional teams have contributed to the region’s economic growth through visitor spending and overall economic output.
Highlights of the report include:
- In 2023, more than 2.4 million visitors attended sporting events in Las Vegas, spending $3.5 billion and generating $5.7 billion in total economic impact.
- Sporting event attendees spent an average of $1,410 per trip in 2023, 15 percent more than the $1,235 spent by visitors who did not attend sports events.
- Premier events such as the inaugural Formula 1 Las Vegas Grand Prix and Super Bowl LVIII each generated over $1 billion in total impact, reflecting the growing influence of high-profile sports in Southern Nevada’s economy.
- Professional teams such as the Vegas Golden Knights and the Las Vegas Raiders led their respective leagues in ticket sales, while the Las Vegas Aces led their league in both ticket sales and overall franchise valuation.
- The development of venues including T-Mobile Arena and Allegiant Stadium have been integral to the growth of the sports economy. In 2023, Allegiant Stadium alone hosted more than 770,000 visitors who generated $1.8 billion in economic impact.
“As Las Vegas has solidified its status as a global sports destination, the economic benefits to Southern Nevada have been profound,” said James Rensvold, Executive Vice President and Director of Private Banking. “From record-breaking signature events to the rising success of local professional teams, sports have become a major driver of the region’s economy, contributing billions in visitor spending and economic impact.”
The Private Bank’s High Net Worth Report is available on Nevada State Bank’s website at www.nsbank.com/HNWreport or by contacting The Private Bank directly at 702-855-4596.
About Nevada State Bank (@nevadastatebank)
Nevada State Bank is a full-service bank offering a complete range of consumer, private, and business banking services, as well as wealth management services, with a robust statewide branch network. Nevada State Bank’s colleagues regularly volunteer in their communities and have been dedicated to helping make Nevada a better place to live for the last 64 years. Zions Bancorporation, N.A. is included in the S&P 400 Mid-Cap and NASDAQ Financial 100 indices (NASDAQ: ZION).
For more information on Nevada State Bank, visit www.nsbank.com.
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