LOS ANGELES (CBSLA.com) — It won’t be “game over” anytime soon for the Electronic Entertainment Expo — better known as E3 — in the city of Los Angeles.

KNX 1070’s John Brooks reports officials convinced the video game industry to keep its biggest convention downtown despite the risk of disruptions from potential construction projects.

READ MORE: Avelo Offering $20K Sign-On Bonus, $200 Hourly Captain Salaries In Push To Hire 120 New Pilots

Officials with Entertainment Software Association, the organizers of the E3 convention, had threatened to end a lucrative 16-year contract that brought much-needed jobs and tax revenue to the city amid development plans for a new football stadium and a new convention hall.

But AEG — developer of the proposed Farmer’s Field stadium and the rebuilding of the West Hall of the Convention Center — promised to halt construction if necessary in order to salvage faltering negotiations with E3.

AEG’s Micheal Roth said losing E3 to New Orleans, New York, San Francisco or Chicago would be simply unacceptable.

READ MORE: Orange County Deputies Open Fire Inside Foothill Ranch Walmart, Suspect Wounded

“When you have a convention, they’re hiring local companies to set everything up, the cabs get business, the hotels get business, the restaurants get business, not just downtown,” said Roth.

The annual gathering draws upwards of 45,000 people from over 100 countries around the world to Los Angeles, generating approximately $40 million for the local economy.

Mayor Antonio Villaraigosa was among those officials who participated in the negotiations and hailed the decision.

“The City is grateful the Entertainment Software Association continues to view LA, the entertainment capital of the world, as the ideal location for the world’s premiere video game convention,” said Villaraigosa.

MORE NEWS: Russell Westbrook Benched In Final Minutes Of Lakers Loss To Pacers

The deal also confirmed that E3 2013 would take place from June 11-13 at the Los Angeles Convention Center, L.A. LIVE and other venues throughout the city.