The Las Vegas Convention and Visitors’ Authority says it expects to lose $210 million in revenue in the next fiscal year.
The draft budget presented at Tuesday’s board meeting includes $150 million in cuts.
To further fill the gap in fiscal 2021, the board approved a reallocation of $27 million from the reserve fund that pays for retirement and healthcare benefits.
LVCVA CEO Steve Hill says the agency could stay afloat for as long as two years without bringing in any revenue. The board says it will prioritize advertising and public health in the final budget.