Only in its second year in Las Vegas, the Electric Daisy Carnival (EDC) is fast becoming one of the valley's biggest and most lucrative annual events.
The three-day music and multi-media festival held at Las Vegas Motor Speedway this year attracted more than 320,000 fans and pumped roughly $207 million into the Clark County economy, according to a study by Beacon Economics, LLC.
The study, commissioned by EDC producer Insomniac, found 90 percent of attendees came from outside Las Vegas and combined with the local market to spend roughly $103 million, a 45 percent increase over the 2011 event.
More than $28.3 million was spent on accommodations, $19.8 million in transportation, $19.6 million on dining, $17.2 million in gaming, $10 million in entertainment and $7.9 million in retail.
The festival additionally created an estimated $13.1 in tax revenue for state and local government, bringing in $84 million in income for workers in Clark County, the report stated.
"Our team worked day and night to ensure that this summer's festival was the most ambitious to date and the fans responded overwhelmingly, traveling to Las Vegas earlier and staying longer," said Pasquale Rotella, president and CEO of Insomniac. "For the second year in a row our fans' loyalty has helped support the Las Vegas community by generating millions in tax dollars and providing jobs. Las Vegas has embraced us and I'm excited to continue our work together."
Plans for the next Las Vegas EDC are already under way. For more information, visit www.electricdaisycarnival.com.
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