NDA ANNUAL LUNCHEON DRAWS NEARLY A THOUSAND OF LAS VEGAS’ BUSINESS ELITE
The November 19 Nevada Development Authority (NDA) Annual Luncheon, which featured J. Terrence Lanni – Chairman of the Board, CEO – MGM MIRAGE, drew nearly a thousand of Las Vegas’ business elite. Touted and proven as a must-see event each year, past annual luncheons have featured such speakers as former President Bill Clinton and Tom Brokaw.
Known for his exceptional and sometimes surprising public speeches, Lanni’s keynote certainly engaged listeners and exceeded expectations.
The focus of Lanni’s speech was the current state of discussion and debate about tax policy and an exploration of whether Nevada is an economy in crisis or chaos. Lanni spoke to many issues including tax responsibilities for the gaming industry as well as for the other businesses that make Southern Nevada their home, saying, “There must be a proper balance in our tax policy.”
Mr. Lanni continued and stressed the need for a new policy to better support the state’s infrastructure and especially a policy that will ultimately improve education in Nevada, pointing out that “On each occasion when gaming has supported a tax increase – even those that are not paid by gaming alone, such as property or sales tax – it has done so knowing that the tax burden will almost certainly fall most heavily on itself.”
While Lanni did say that the economy is showing signs of strain, the fact remains that “…companies large and small have profited from the vibrant environment of growth and expansion for almost eight straight decades.”
