{"id":11285,"date":"2015-06-12T08:34:47","date_gmt":"2015-06-12T15:34:47","guid":{"rendered":"https:\/\/www.casino.org\/vitalvegas\/?p=11285"},"modified":"2015-06-12T15:56:20","modified_gmt":"2015-06-12T22:56:20","slug":"rock-in-rio-usa-shocker-festival-lost-28-million-in-its-first-las-vegas-outing","status":"publish","type":"post","link":"https:\/\/www.casino.org\/vitalvegas\/rock-in-rio-usa-shocker-festival-lost-28-million-in-its-first-las-vegas-outing\/","title":{"rendered":"Rock in Rio USA Shocker: Festival Lost $28 Million in Its First Las Vegas Outing"},"content":{"rendered":"\n
We knew it was bad, but even we had no idea Rock in Rio USA would end up taking a financial hit like this.<\/p>\n
Number continue to come in, but reports are Rock in Rio USA’s loss for its first foray into Las Vegas (and the U.S. market) was a jaw-dropper: $28 million in the hole and counting.<\/p>\n
That’s a sizable loss, especially for a festival hyped as the potential financial savior of the north end of the Las Vegas Strip.<\/p>\n
MGM Resorts, too, had a lot on the line with Rock in Rio USA, ponying up half the cost of infrastructure at the music festival’s City of Rock site, to the tune of $20 million. (Rock in Rio USA contributed an additional $20 million.) Note: We previously reported the investment in the site was $75 million, as cited in other reports, but an MGM Resort rep reached out to clear up that error. The company does not acknowledge additional “losses” beyond its $20 investment in the site.<\/p>\n