Market Overview

All Eyes On Vegas For Mayweather Vs. Pacquiao

All Eyes On Vegas For Mayweather Vs. Pacquiao

The hottest topic in the worlds of sports and gambling this weekend is the “fight of the century” between undefeated Floyd “Money” Mayweather and Manny Pacquiao, facing off Saturday night at the MGM Grand in Las Vegas.

While tickets to the fight itself have recently reached as high as $7,500, MGM Resorts International (NYSE: MGM) and other Las Vegas resort operators, such as Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts, Limited (NASDAQ: WYNN) and Caesars Entertainment Corp (NASDAQ: CZR) are all poised to capitalize on the estimated $400 million boost that the fight will provide to the Las Vegas economy.

$800 TV ticket?

For Vegas gamblers that don’t have $7,500 for a ticket to the fight, MGM has the exclusive rights to broadcast the fight live on closed-circuit TV at each of its 10 Vegas resorts. MGM initially sold tickets to watch the closed-circuit broadcasts at its other Vegas resorts for $150 each. Since these tickets sold out, however, they are now priced at $700 to $800 on the secondary market.

Related Link: Las Vegas Strip Revenue Slumps 9.5% In March

Expensive Getaway

Fight fans that can’t afford the $7,500 tickets to the fight or the $800 ticket to watch the fight on closed-circuit TV might still want to experience the big-fight atmosphere in Vegas this weekend. Unfortunately, even the atmosphere is expensive.

A standard room at the MGM Grand for Friday night was recently priced at over $1,600. But even a room at the Stratosphere, the very last resort on the opposite end of the Strip from the Grand, is selling rooms for $525 per night this weekend. That price represents a 617 percent hike above standard weekend rates.

Big Fight On A Budget

Verizon Communications Inc. (NYSE: VZ), DIRECTV (NASDAQ: DTV) and Time Warner Cable Inc (NYSE: TWC) are typically charging $90 to $100 to watch the fight live on pay-per-view from the comfort of home. Dish Network Corp (NASDAQ: DISH) is also offering the fight for free for new customers.

However, for the most savvy fight fans, the cheapest and most hassle-free way to get in on the action this weekend is by watching the big fight at local bar, restaurant, casino or even a friend’s house.

Posted-In: Floyd Mayweather Las Vegas Manny PacquiaoEvents Best of Benzinga


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