• KLAS, Wednesday, April 15, 2009 9:30 AM

Is there a hopeful future for event marketing and conventions? Las Vegas thinks there is. More than 400 conventions and meetings have been canceled in Las Vegas in the last six months and tourism and conventions are down nationwide. Nonetheless, the Las Vegas Convention and Visitors Authority decided this week to keeping its advertising firm R&R Partners and its $92 million annual ad budget.

R&R has been with the LVCVA since the '80s and claims to be responsible for the marketing savvy that has made the city and its slogan, "What What Happens Here, Stays Here," cultural icons.

In the past, the Nevada Policy Research Institute has questioned whether the pricey Las Vegas ads work. Approximately $166 million has been lost from October through mid March 2009 because of conventions canceling. But Vegas leaders say their budget decision proves that they expect the tourism and the convention business to make a strong comeback.

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