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Las Vegas is the country’s #5 most visited city attracting more than 37 million visitors annually. In 2009, the city hosted in excess of 600 major club and concert events, selling more than 1.5 million tickets with gross revenue exceeding $141,000,000.
Over the last decade, Bob Cayne has successfully built his business as a dealmaker in Las Vegas and around the world. Cayne is recognized from being involved in a variety of productions in Las Vegas, as well as negotiating international tours for "Michael Flatley’s Lord of The Dance", Blue Man Group’s "Megastar World Tour", David Copperfield, and many other theatrical and non-traditional entertainment properties. Additionally, Cayne will continue in his position as the booking agent for "Michael Flatley’s Lord of The Dance".
"I am very excited to have this opportunity to work with the Live Nation team," said Bob Cayne. "I’m looking forward to utilizing Live Nation’s vast resources to create growth in Las Vegas, delivering new real estate partnerships, great events for fans and corporate partners, and unparalleled shows for artists."
"The Las Vegas concert business represents a growth area for our North America concert division," said Jason Garner, Live Nation CEO of Concerts. "Bob Cayne’s long and proven track record of success as a concert entrepreneur has made him our choice to oversee our Las Vegas operations and develop our growth plan for the city."
About Live Nation Entertainment:
Live Nation Entertainment is the largest live entertainment company in the world, consisting of five businesses: concert promotion and venue operations, sponsorship, ticketing solutions, e-commerce and artist management. Live Nation seeks to innovate and enhance the live entertainment experience for artists and fans: before, during and after the show. In 2009, Live Nation sold 140 million tickets, promoted 21,000 concerts, partnered with 850 sponsors and averaged 25 million unique monthly users of its e-commerce sites. For additional information, visit www.livenation.com/investors.
First Call Analyst:
SOURCE: Live Nation