STATESIDE
good for any community. The seniors who retire to Las Vegas and other regions nationwide do not easily replace themselves. My own niece in Las Vegas is a prime example. Hayley and her husband Sean finally left their rental house in May to buy a lovely home in a country club community in the Summerlin section. After years of renting, they considered returning east to
Pennsylvania or to South Florida. My family’s collective fingers were crossed since it is hard to spend time with their three-year-old daughter from such a distance. My sister-the grandmother-and I are disappointed for sure, but they like the West and Las Vegas living so what can we do? What is also bringing people to Las Vegas in droves is
sports. No one is more thrilled than the two professional sports teams from Oakland, California. The teams’ ownerships recognized the value of Las Vegas real estate compared to their struggling city. The Oakland Raiders team was the first to leave. In July
2020, they relocated to a new $1.9 billion Allegiant Stadium, the world’s second-most expensive arena. The 62-acre domed facility was built on prime land west of Mandalay Bay and Interstate 15, the major highway crossing the Las Vegas Valley. It leads south to Los Angeles and north to Salt Lake City. Allegiant Stadium also hosts area college football games
and will host Super Bowl LVIII in February 2024. This primo building scored a major coup since bidding for an upcoming Super Bowl begins years in advance. Not only will the southern Nevada economy soar during the season, but so will sports betting. Plans are also now underway for legislation to bring the
Oakland A’s Major League Baseball team to Las Vegas. Bally’s Corp. will build a new 30,000-seat, publicly-owned stadium on nine acres. The building’s retractable roof will provide temperature control on those scorching summer desert days and nights. The public-private partnership will create a Sports and
Entertainment Improvement District at the southeast intersection of Las Vegas Boulevard (the Strip) and Tropicana Avenue. It is prime property across the street from MGM, New York New York and Excalibur. The monorail has a stop right at the intersection. I expect the Tropicana will ultimately be torn down to
income tax, involuntary tax, franchise tax or gross receipt tax? Conversely, California never met a tax it didn’t like. Obviously, the casinos love it, but so do those new small
business who own the restaurants, medical and dental offices and other companies. Added to this scenario are the younger age groups visiting
Las Vegas. The recent 2022 Las Vegas Visitor Profile report from the Las Vegas Convention and Visitors Authority (LVCVA) show stunning results. The LVCVA hired a Virginia research and consulting firm to
conduct the study. They determined the average age of visitors has dropped from 46.2 in 2019 to 40.7 in 2022. 53% of visitors were 21 to 39 years old. Younger visitors translate into younger buyers making a financial and lifestyle commitment for the long haul. That is
10 JUNE 2023
make way for this giant complex, which makes me somewhat nostalgic. When my family first began regularly traveling to Las Vegas in the 1980s on business, the Tropicana was labeled the “Island on the Strip.” There was nothing else for blocks at that end of town. Once Steve Wynn and others began construction in the
late 1980s/early 1990s, they changed the face and atmosphere forever. Today, Clark County’s Las Vegas is a sprawling metropolitan region that invites everyone to come realize their dreams in a way they can afford. For now, life for Las Vegas residents seems fairly easy. It
parallels Florida of only a few years ago, until the exodus from high-taxed northeastern states caused a rush to buy property. That brought more traffic, noise and higher prices. I hope Las Vegas escapes the same inevitable fate. It is still about location, location, location. Today’s remote
workers, like Hayley and Sean, have changed the landscape of where people need to be. Maybe Las Vegas is on to something.
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