Megafight demise could hurt Strip numbers
Boxing fans aren’t the only ones upset about the apparent demise of the Floyd Mayweather Jr.-Manny Pacquiao championship fight that had been scheduled for March 13 at the MGM Grand.
Wall Street said Las Vegas could be losing out on a potentially lucrative payday.
Macquarie Securities gaming analyst Joel Simkins told investors in a research note Thursday the fight would have provided the Strip a large amount of business.
“Historically, mega-fights have been significant drivers of traffic into Las Vegas and high-end gaming activity, in addition to sports betting,” Simkins said. “We believe that this fight would have been a nice shot in the arm for MGM Mirage and other Las Vegas Strip operators including Wynn Resorts and Las Vegas Sands, particularly when it was poised to be one of the highest grossing pay per view events in history.”
The MGM Grand Garden seats about 17,000 for boxing but Simkins said there would have been a spillover into Las Vegas by a large international contingent, especially an Asian audience backing Pacquiao.
“Clearly from our perspective, 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,” Simkins said.
R-J story on fight: Mediation fails to resuscitate megafight
