Even before the final bell sounds in the fight between Filipino boxing champ Manny Pacquiao and Juan Manuel Marquez on Sunday (Manila time), Las Vegas' economy can count itself to be among the big-time winners.
An article on The New York Times said Pacquiao is an economic driver in Las Vegas when his matches are scheduled there, as fans patronize establishments like casinos, hotels, and bars.
"It's way more. Not $100 million. Hundreds of millions," said Top Rank Boxing president Todd DuBoef, when asked about Pacquiao's impact on the economy.
A bout like Sunday's between Pacquiao and Marquez at the MGM Grand may even earn the Nevada Athletic Commission its budget for the year, the New York Times story added. Increased patronage leads to an increase in hotel rates to the price of bottle service at local nightclubs.
But the NYT said Pacquiao seems unaware of the economic boost provided by his fists. "I'm here to fight," he said.
Pacquiao was not considered a superstar until November 2009, when he beat Miguel Cotto for his seventh title in seven weight classes.
He has since brought with him a large and loyal fan base, which included high-end Asian gamblers who helped Las Vegas' economic recovery.
Michael Lawton, a senior research analyst for the Nevada Gaming Control Board, noted those types of high rollers appear drawn to championship fights.
DuBoef said Top Rank saw this coming when it signed Pacquiao, planning to capitalize on the Asian market with an Asian superstar.
"We thought Macau was the promised land," DuBoef said. "It turned out Manny translated here, for the same reasons, instead."
Pacquiao also draws international, often political, coverage unlike any boxer before, having graced the covers of Time and Newsweek. JVP, GMA News
source: gmanews.tv
