The boxing match between Manny Pacquiao and Floyd Mayweather provided a much-needed jolt of energy to the boxing community. The match, considered by many to be the most important boxing bout of this era, has also provided the casino industries in Las Vegas and Hollwood with a plenty of additional revenue, too.
MGM Grand Hotel & Casino’s Big Payday
The MGM’s public relations team released a report indicating that room prices for fight weekend were $750 more than room prices on an average night. The fight was held at the MGM Grand, where standard rooms eventually reached prices of $1,600 on the night of the fight. Prices for a standard room at the MGM Grand are $270 per night.
MGM Grand, in conjunction with the fight promoters, settled on a price of $100,000 for a ringside ticket to the fight. Tickets for nosebleed seats reached upwards of $4,600. The purse for the fight was estimated at over $300 million.
Hollywood’s Casinos Also Benefit from Fight Night
Las Vegas-based casinos and hotels were not the only businesses that benefited from the Pacquiao-Mayweather fight. Native American-owned casinos in Hollywood and San Diego also received plenty of action on fight night as well.
For example, the Morongo Casino advertised that they were holding a pay-per-view viewing party on their casino floor. The Morongo charged $75 to watch the fight on their biggest screen. The casino’s hotel rooms were completely sold out during the weekend of the fight.
Phil Cooper, a marketing director with Morongo Casino, says the excitement and anticipation for the boxing match was similar to the excitement the casino sees for the Super Bowl. A restaurant owner in Hollywood compared the boxing match to the Rose Bowl.