Next year's WrestleMania, a theatrical WWE extravaganza said to bring hundreds of millions of dollars in economic benefits to the host city, will be held in Las Vegas — much to the disappointment of Minneapolis movers and shakers, who had hoped to win the 2025 event.

Minneapolis had been a finalist to host the event, following the city's pitch by Minnesota Sports and Events (MNSE), a nonprofit that works to bring major attractions to the Twin Cities. The city's bid was to hold the event at U.S. Bank Stadium.

Instead, it will be held at Allegiant Stadium in Las Vegas on April 19-20, 2025. Las Vegas was thought to be the front runner among several cities vying for the event. Vegas-based Endeavor Sports and Entertainment took majority ownership of WWE about a year ago.

"We were informed by WWE that Minnesota would not host WrestleMania in 2025 due to a change in direction by new ownership," said Wendy Blackshaw, MNSE's president and chief executive. "Although disappointed, we are in discussions with WWE about future events in Minnesota. We are optimistic that Minnesota will host WWE events here in the future."

This year's WrestleMania was held last month at Lincoln Financial Field in Philadelphia, home of the NFL's Eagles, and reportedly drew more than 145,000 fans.

Minneapolis has never played host to WrestleMania, despite Minnesota's history as a hotbed of pro wrestling. The event draws tens of thousands of visitors of all ages, who spend money on lodging, dining, rental cars and local attractions that adds up close to Super Bowl-sized figures. Los Angeles last year claimed a benefit of $235 million.

MNSE is funded by convention bureaus in Minneapolis, St. Paul and Bloomington, along with corporations and Minnesota's pro sports teams.

Star Tribune staff writer Paul Walsh contributed to this story.