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 MGM 1.18% and other Las Vegas resort operators, such as Las Vegas Sands Corp. LVS 0.04%, Wynn Resorts, Limited WYNN 1.48% and Caesars Entertainment Corp CZR 1.79% 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.
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. VZ 0.06%, DIRECTV DTV 0.34% and Time Warner Cable Inc TWC 1.11% are typically charging $90 to $100 to watch the fight live on pay-per-view from the comfort of home. Dish Network Corp DISH 1.27% 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.
Read this article and all my other articles for free on Benzinga by clicking here
Want to learn more about the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
