Hollywood Loves Las Vegas (For A Price)
Ah, to be a Las Vegas resident! Everyone loves us! The Oakland Raiders moved to Las Vegas because they couldn’t wait to be in Southern Nevada! Also because they got a bunch of public money. Same for the Oakland Athletics. Casinos love it here! They also get the cheapest gaming tax rate here. Now Hollywood loves Las Vegas! But don’t think it is going to come cheap.
If you haven’t heard, there is already a planned movie studio planned in a joint project between Sony Pictures Entertainment and the Howard Hughes Corporation (who are the people behind Summerlin). Mark Wahlberg has flat out said he wants to make Vegas the new La La Land.
A third project shows how much Hollywood loves Las Vegas. Only if we pay.
Hollywood Loves Las Vegas’ (And Nevada’s) Sweet Sweet Cash
Warner Bros. Discovery, the mega media conglomerate behind many of your favorite TV shows, networks and movies, has come forward with their hands out. They announced in a press release that they are ready to plunk down $8.5 billion on a new film development venture between UNLV and real estate company Birtcher Development.
The only caveat is they will only go forward with the “Warner Bros. Studios Nevada” project if the state of Nevada approves fat tax credits that would encourage the company to move productions to Southern Nevada versus sending them to other media tax havens like Vancouver, British Columbia, Canada.
Back in 2023, Mark Wahlberg and friends tried to get it passed in Carson City but it didn’t go anywhere. The expanded film tax credits are set to be proposed again in 2025. If they pass, expect a lot of investment from Tinseltown. If they don’t? Expect only COPS episodes for a while.
Like everyone else, Hollywood loves Las Vegas for its sweet public funds. And you thought prostitution was only legal in Nye County!