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Home Communities Oracle Leaves: Pulls Tech Convention “OpenWorld” Out Of San Francisco

Oracle Leaves: Pulls Tech Convention “OpenWorld” Out Of San Francisco

Oracle Leaves: Pulls Tech Convention “OpenWorld” Out Of San Francisco
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In the latest major business departure from San Francisco, Oracle is relocating its Tech convention “OpenWorld” to Las Vegas.

The company has signed a three-year agreement to bring the convention to the Caesars Forum in Las Vegas, a new 550,000-square-foot venue slated to open next year near the LINQ and Flamingo Hotels on the Las Vegas Strip.

Oracle stated that rising hotel rates throughout the Bay Area, as well as poor street conditions in San Francisco, were the main pushes for its decision to move the convention to Vegas.

In a major blow to the city’s hospitality industry, the convention relocating, will deal a substantial loss to the city’s revenues to the tune of over $64 million.

This move by Oracle follows an announcement from Charles Schwab, as we reported last month, that it would relocate its headquarters to Texas as businesses seek greener pastures away from San Francisco’s crumbling streets and high taxation.

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