The Las Vegas Convention and Visitors Authority board of directors on Tuesday approved a plan for 240 LVCVA employees to receive 4 percent pay increases and lump-sum bonuses of $2,250 per worker in July.
The board unanimously approved the compensation after a public hearing on modifying the LVCVA’s collective bargaining agreement with the Service Employees International Union Local 1107.
The LVCVA’s Compensation Committee on Monday recommended approval of the increases, which will cost $19.3 million, including additional retirement and Medicare benefits expenses.
The contract modification is an amendment to a five-year agreement signed by the LVCVA and the union effective July 1, 2018. Under terms of the contract, employees received 2.8 percent across-the-board pay increases in both the second and third years of the agreement. There were no increases in the fourth year and the fifth year was subject to renegotiation. A new five-year agreement is expected to be developed next year.
In other business, the board approved nearly $8.5 million in sponsorships for upcoming special events.
The largest authorization was for a year-long events promotion agreement for the 2022-23 fiscal year with the non-profit Las Vegas Events Inc. for $6.5 million.
Under terms of the agreement, money that isn’t spent by Las Vegas Events between July 1 and June 30, 2023, would be returned to the LVCVA’s general fund. Among the events Las Vegas Events has sponsored in the past are the National Finals Rodeo and “America’s Party,” the annual resort corridor fireworks display on New Year’s Eve.
Other sponsorships approved by the board:
— $425,000 to sponsor an international soccer match between Chelsea FC and Mexico’s Club America on July 16 at Allegiant Stadium.
—$750,000 to Anschutz Entertainment Group for two international soccer matches at Allegiant Stadium in July. Matches will include Juventus FC and Chivas Guadalajara on July 22, and Real Madrid CF against FC Barcelona on July 23.
—$760,000 to sponsor the Global Association of the Exhibition Industry 90th UFI Congress at Aria Nov. 1-4, 2023. It’s the largest international exhibition trade show in the world and the 2023 event will be the first one ever staged in the United States.
This is a developing story. Check back for updates.
Contact Richard N. Velotta at email@example.com or 702-477-3893. Follow @RickVelotta on Twitter.