{"id":227191,"date":"2022-08-18T11:15:03","date_gmt":"2022-08-18T16:15:03","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=227191"},"modified":"2022-08-18T14:26:38","modified_gmt":"2022-08-18T19:26:38","slug":"las-vegas-convention-and-visitors-authority-grants-more-pay-increases-bonuses","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/las-vegas-convention-and-visitors-authority-grants-more-pay-increases-bonuses\/","title":{"rendered":"Las Vegas Convention and Visitors Authority Grants More Pay Increases, Bonuses"},"content":{"rendered":"<p>Citing the tourism rebound that followed the pandemic shutdown, the Las Vegas Convention and Visitors Authority (LVCVA) board has approved financial rewards for an additional four executives for the fiscal year ending June 30.<\/p>\n<figure id=\"attachment_227203\" aria-describedby=\"caption-attachment-227203\" data-style=\"width: 1500px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-227203 size-full\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia.jpg\" alt=\"Las Vegas Convention Center LVCVA\" width=\"1500\" height=\"992\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia.jpg 1500w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia-858x567.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia-624x413.jpg 624w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia-496x328.jpg 496w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia-430x284.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Las_Vegas_Convention_Ctr-wikimedia-194x128.jpg 194w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/><figcaption  id=\"caption-attachment-227203\"class=\"text-description\">The Las Vegas Convention Center is managed by the Las Vegas Convention and Visitors Authority, a responsibility uncommon among destination marketing organizations in the US. (Image: Las Vegas Convention and Visitors Authority)<\/figcaption><\/figure>\n<p>The financials amounted to $287,460 in bonuses and $55,475 in annual salary increases. The newly announced raises and bonuses are as follows:<\/p>\n<ul>\n<li><strong>LVCVA Chief Marketing Officer Kate Wik\u2019s<\/strong> annual salary was increased 5% to $341,470 per year with a one-time bonus of $121,594.<\/li>\n<li><strong>Chief Financial Officer Ed Finger\u2019s<\/strong> annual salary was increased by 6% to $257,797, with a one-time bonus of $60,801.<\/li>\n<li><strong>Chief Operating Officer Brian Yost\u2019s<\/strong> annual salary was increased by 7% to $251,510 with a one-time bonus of $58,764.<\/li>\n<li><strong>Senior Vice President of Communications Lori Nelson-Kraft\u2019<\/strong>s annual salary was increased by 4% to $212,393 with a one-time bonus of $45,950.<\/li>\n<\/ul>\n<p>The board said these increases reward the executives for securing Super Bowl LVIII in February 2024, creating the Formula One Vegas Grand Prix race scheduled for November 2023, and adding almost 1 million square feet of meeting space to the Las Vegas Convention Center with the West Hall expansion. (The LVCVA is one of the rare US marketing organizations tasked with promoting a city as a business and leisure destination and managing a convention center.)<\/p>\n<p>These rewards come in addition to the 10% pay raise and 50% bonus <a href=\"https:\/\/www.casino.org\/news\/las-vegas-convention-visitors-authority-gives-ceo-steve-hill-raise\/\">approved by the board last month<\/a> for LVCVA President and CEO Steve Hill, who now receives $447,608 per year with a one-time bonus of $203,458. Also receiving additional compensation was LVCVA General Counsel Caroline Bateman, whose annual salary increased 7% to $219,572 with a one-time bonus of $51,302.<\/p>\n<p>The LVCVA also granted 4% pay raises and one-time bonuses of $2,250 <a href=\"https:\/\/www.casino.org\/news\/las-vegas-convention-visitors-authority-approves-pay-increases\/\">to all of its 240 workers<\/a> on July 1, at a cost of more than $19 million.<\/p>\n<h2>Tourism Rebound Examined<\/h2>\n<p>According to the LVCVA, a tourism rebound helped generate record room tax revenue in 2021-22, with $294 million deposited into the LVCVA\u2019s general fund, beating the previous high of $286 million in 2019.<\/p>\n<p>However, visitor volume \u2014 one of the key metrics the LVCVA is tasked with keeping robust \u2014 remains below 2019 numbers.<\/p>\n<div class=\"callout\">\n<p>Through May 2022, visitor volume in Las Vegas totaled 15.25 million people. Convention attendance was about two million attendees. Through the first five months of 2019, Las Vegas visitor volume totaled more than 17.53 million guests. Convention volume totaled three million attendees.<\/p>\n<\/div>\n<p>The LVCVA is funded by hotel tax dollars guests pay during their stays in Clark County. Hotels within the county must collect an effective tax of 13.38% on nightly charges. Most of that money goes to the LVCVA.<\/p>\n<h2>LVCVA Too Large?<\/h2>\n<p>The LVCVA says it costs hundreds of millions of dollars each year to keep Las Vegas current and enticing to trade shows and exhibitions. However, others say the agency is too large.<\/p>\n<p>Only a few years ago, a probe of the government agency by the <em>Las Vegas Review-Journal\u00a0<\/em>found that the authority was ripe with fraud. In 2019, Rossi Ralenkotter, the LVCVA\u2019s former CEO who led the agency from 2004 through August 2018, was\u00a0<a href=\"https:\/\/www.casino.org\/news\/former-lvcva-chief-executive-rossi-ralenkotter-charged-with-felonies\/\">charged by Clark County prosecutors<\/a>\u00a0with two felony counts of theft and misconduct of a public officer.<\/p>\n<div class=\"callout\">\n<p>The criminal investigation came after the\u00a0<em>R-J\u2019s <\/em>independent review of the agency. That found key officials, including Ralenkotter himself, improperly used $90,000 worth of Southwest Airlines gift cards bought by the LVCVA. Ralenkotter, then-Chief Marketing Officer Cathy Tull, and then-Director of Business Partnerships Brig Lawson were each accused by county prosecutors of using Southwest credits to take personal trips on the agency\u2019s dime. Ralenkotter allegedly used $17,000 of the vouchers for personal and family trips.<\/p>\n<\/div>\n<p>Ralenkotter later pleaded no contest to a lesser misdemeanor charge of violation of a public officer. He served no prison time and was fined $1,000. Local Las Vegas legal experts panned the deal.<\/p>\n<p>Despite the scandal, Ralenkotter was handed a cozy exit package on his way out. The LVCVA agreed to keep him on retainer as a consultant for $15,000 a month. He also collects a nearly $300,000 annual state pension.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Citing the tourism rebound that followed the pandemic shutdown, the Las Vegas Convention and Visitors Authority (LVCVA) board has approved financial rewards for an additional four executives for the fiscal year ending June 30. The financials amounted to $287,460 in bonuses and $55,475 in annual salary increases. The newly announced raises and bonuses are as [&hellip;]<\/p>\n","protected":false},"author":78,"featured_media":227203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,81886,13592],"tags":[23,24],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Las Vegas Convention and Visitors Authority Grants More Pay Increases, Bonuses - Casino.org<\/title>\n<meta name=\"description\" content=\"Citing the tourism rebound that followed the pandemic shutdown, the Las Vegas Convention and Visitors Authority (LVCVA) board has approved financial\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/las-vegas-convention-and-visitors-authority-grants-more-pay-increases-bonuses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Convention and Visitors Authority Grants More Pay Increases, Bonuses - 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He currently covers gaming news on the US West Coast, including Las Vegas. Corey spent six years covering the Vegas Strip for the Las Vegas Review-Journal, where he also wrote the most popular humor column in the city\u2019s history. (For \u201cFear and Loafing,\u201d he tried out 176 Vegas jobs, including poker player, blackjack dealer and Follie Bergere dancer.) Corey has won more than 100 local, state and national awards for his journalism, which has also appeared in Rolling Stone, New York Magazine and the New York Post. Corey is a New York native whose hobbies include playing guitar, trying to be a better husband, and arguing with strangers on Facebook. 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