Warner Bros. Plans $8.5B Las Vegas Studio, Awaits Tax Credit Approval

Aug 20, 2024, 06:52 PM

Warner Bros. Discovery has announced plans to invest $8.5 billion in a new film studio in Las Vegas, Nevada, contingent upon the approval of a film tax credit program by state lawmakers. The entertainment giant intends to lease and operate the proposed Nevada Studios in partnership with the University of Nevada, Las Vegas (UNLV) and Birtcher Development. Additionally, Warner Bros. pledges half a billion dollars annually toward productions in Southern Nevada. This investment is part of a broader strategy to expand its production capabilities in Southern Nevada, potentially competing with other major studios such as Sony. The commitment includes a long-term lease and significant production spending over 17 years, aimed at transforming Las Vegas into a prominent hub for film and television production.