According to CasinoCity.com News, the cancellation of the Manny Pacquiao-Floyd Mayweather, Jr. fight could cost Las Vegas a good deal of money.
These high-profile fights provide several benefits to Las Vegas – thousands stream into the city to see the fight, to bet on the fight, or to be somehow associated with it. People also bet from far distances on the fight and that brings money to the city as well.
But the cancellation of the March 13 fight (which was to be hosted by the MGM Grand), could hurt Las Vegas, which has recently seen an uptick in business.
Joel Simkins, a Macquarie Securities gaming analyst, told investors Thursday that the Strip would have benefitted greatly from the fight.
Simkins went on to explain how mega fights drive tons of activity to Las Vegas with sports betting and a spike in high end casino players. Along with the impact in Las Vegas it was also likely to be the highest grossing pay-per view event.
About 17,000 seats were expected to be filled for the fight, but there also would have been an overflow benefit to Las Vegas via remote channels, with people as far away as Asia becoming interested in the fight, thanks to the involvement of Pilipino Pacquiao.
“Clearly from our perspective,” Simkins said, “MGM Mirage would likely have been a big beneficiary and this would have certainly offered gamblers an opportunity to visit Aria and CityCenter as well.”