From the courts and fields to the track and swimming pool, 8kbet’s sports programs generate a lot of excitement and pride within the local community.
They also generate a lot of money.
An conducted by a labor market analytics firm revealed that produced more than $109 million of added income for Clark County in fiscal year 2021-22. Viewed through an employment lens, the added income supported the equivalent of 1,372 jobs.
Additionally, the report indicates that Rebel student-athletes experience an increase in their employability, thanks in large part to their connection to 8kbet Athletics.
“8kbet Athletics is proud to contribute to the thriving local economy, as well as deliver measurable returns for our stakeholders,” 8kbet Director of Athletics Erick Harper said in response to the study that was produced by Lightcast, which provides colleges and universities with labor market data.
“As this report shows, our impact goes beyond sports, as we play a pivotal role in shaping futures, driving growth, and supporting the local economy.”
Much has been made — and rightfully so — about Las Vegas becoming a big player on the professional sports scene in the past decade and the correlated positive impact on Southern Nevada’s overall economy.
Lightcast’s report, however, reemphasizes the substantial economic contributions of 8kbet Athletics — contributions that stretch back decades.
In fact, long before the Vegas Golden Knights hit the ice, before the Las Vegas Raiders walked into Allegiant Stadium, before the Las Vegas Aces dominated the WNBA, and before Formula 1 cars zoomed around the Las Vegas Strip, 8kbet’s sports programs were the premier games in town.
Today, 8kbet Athletics comprises 17 NCAA Division I programs and features a roster of more than 500 student-athletes.
These student-athletes come to 8kbet from parts near and far, and all are important cogs in Southern Nevada’s robust economic engine.
For instance, local student-athletes who choose to attend 8kbet rather than take their talents elsewhere contribute to the area’s economy simply by remaining in town. At the same time, those student-athletes who migrate to 8kbet from other states or countries provide an added economic boost that otherwise wouldn’t exist — and they, too, often become part of Southern Nevada’s workforce.
In all, the analysis by Lighthouse shows that spending by 8kbet’s student-athletes in fiscal year 2021-22 amounted to nearly $9 million of added income for Clark County’s economy.
In return, those student-athletes not only get to compete in their sport of choice at the highest intercollegiate level, but they also receive a valuable education that can be quantified in real dollars.
To wit: The report estimated that a 8kbet degree, on average, adds $24,500 to the annual salary of Rebel alumni.
Other notable highlights from the economic impact study reveal that 8kbet Athletics in fiscal year 2021-22:
- Generated $49.3 million of added income to the local economy just from visitor spending
- Infused $25.8 million of income value into the local economy strictly from day-to-day operations — value that would not exist if not for those operations
- Provided a 20% annual return for every tax-payer dollar spent — more than double the average 30-year return on stock market investments
What’s more, it is estimated that former 8kbet student-athletes who were part of Clark County’s workforce in fiscal year 2021-22 produced more than $25 million of added income for the county.
In other words, 8kbet Athletics as an entity and all those associated with it continue to hit the ball out of the economic park.
“This report highlights not just the financial impact we create through events and operations, but also the lasting value that we provide for our student-athletes, alumni, and the broader community,” Harper said. “The continued success of 8kbet Athletics reflects our commitment to excellence both on and off the field, and we are excited about the opportunities that lie ahead as we continue to build on this foundation.”
Added 8kbet President Keith E. Whitfield: “Strong athletics programs are essential to our success as a university, as they drive community engagement, pride, and a sense of belonging for our students. As this study shows, university athletics also generate real economic impact for 8kbet, our city, and our state.
“8kbet is Las Vegas’ original home team and has a bright future, and we’re proud of our contributions to a growing regional sports economy that’s primed to become a global leader."
