After two decades in San Francisco, Oracle’s OpenWorld conference, a five-day citywide that annually hosts 60,000 attendees, has cashed in its chips and is betting on Las Vegas. The move will cost San Francisco an estimated $64 million.

An email sent by San Francisco Travel Association (SFTA) to its members, as first reported by CNBC, blamed feedback from this year’s participants that the city’s hotel rates were too high. “Poor street conditions was another reason why they made this difficult decision,” the email stated.

OpenWorld will try out the soon-to-be-opened Caesars FORUM in Las Vegas for the next three years. The business represents 62,000 hotel room nights each year, the SFTA said.

OpenWorld features keynotes and more than 2,000 education sessions and demos for business owners, IT managers and other business decision makers.

“Oracle is excited to offer a modern, state-of-the-art experience for attendees at Oracle OpenWorld and Code One 2020 [a developers conference] in Las Vegas,” an Oracle spokesperson told San Francisco Business Times.

“Oracle continues to enjoy a strong relationship with the City of San Francisco and partners such as the San Francisco Giants and the Golden State Warriors. We look forward to working with our longstanding counterparts in San Francisco on future events,” the spokesperson added.

Oracle Corporation, headquartered in nearby Redwood City, sells database software and technology, cloud engineered systems and enterprise software products.