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Mayweather-McGregor Would Bring Big Money To Vegas, But Not Necessarily Casino Stocks

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Mayweather-McGregor Would Bring Big Money To Vegas, But Not Necessarily Casino Stocks
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The highly-anticipated fight between undefeated boxing star Floyd Mayweather and UFC star Conor McGregor was confirmed on Wednesday.

The fight will not only benefit the pockets of Mayweather and McGregor, but should also have a huge impact on Las Vegas. The 2015 fight between Mayweather and Manny Pacquiao raked in over $500 million, and Mayweather’s team believe his fights have at least a $100 million impact on the local economy.

Some of the names that could gain from the fight include MGM Resorts International (NYSE: MGM), Las Vegas Sands Corp. (NYSE: LVS) and Wynn Resorts, Limited (NASDAQ: WYNN). While you may not know who is going to win the fight, are Las Vegas stocks a safe bet? Let's take a look at recent history.

Floyd Mayweather Jr. vs. Manny Pacquiao

Did MGM move higher the day of the announcement (February 20, 2015)? No

Did MGM move higher around the May 2, 2015 fight date? No

Floyd Mayweather Jr. vs. Saul Alvarez

Did MGM move higher the day of the announcement (May 29, 2013)? No

Did MGM move higher around the September 14, 2013 fight date? Yes

Floyd Mayweather Jr. vs. Miguel Cotto

Did MGM move higher the day of the announcement (February 1, 2012)? Yes

Did MGM move higher around the May 5, 2012 fight date? No

Floyd Mayweather Jr. vs. Oscar De La Hoya

Did MGM move significantly the day of the announcement (November 13, 2006)? No

Did MGM move higher around the May 5, 2007 fight date? No

Overall, while MGM has moved slightly because of the fights, there is no clear indication that the stock will move up or down.

While these fights will likely generate millions for MGM and other Las Vegas resorts, you might be better off putting your money on a fighter.

Posted-In: casino stocks Conor McGregor Floyd Mayweather Las VegasPreviews Sports Trading Ideas General Best of Benzinga

 

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