Manny Pacquiao arrives at the MGM Grand in Las Vegas NV for his Dec. 8 bout against Juan Manuel Marquez (AP)Anyone who still doesn’t understand why boxers such as Floyd Mayweather Jr. & Manny Pacquiao earn so much money & are treated so reverentially in Nevada’s casinos — And now, in Pacquiao’s case, in Asia’s — only needs to check out the NV Gaming Control Board’s report for June.
In June 2013, Nevada’s casinos won $792.5 million from gamblers. That, though, was down from the $832.5 million they won from gamblers in June 2012, the month when Pacquiao fought Timothy Bradley Jr. at the MGM Grand in Las Vegas. There was no major boxing event in NV in June 2013.
Winnings from baccarat, a game favored by the high-rolling Asian gamblers Pacquiao attracts, were down nearly 50 % year over year. In 2012, Nevada’s casinos won $52.1 million from baccarat play, down from $103.1 million in June 2012.
When Pacquiao & Mayweather fight in Nevada, the casinos inevitably have a strong month.
Slot machines in the Philippines bear Manny Pacquiao’s likeness (AP)The importance of this from a boxing standpoint is in that Mayweather & Pacquiao attract the super wealthy, who spend noteworthy money gambling & in the shops & restaurants around town. Now, they moreover sell more tickets, more pay-per-views, & more merchandise than other fighters. Television networks around the world are willing to pay more for the right to broadcast their fights.
In many ways, they assist fund boxing at large, 'cause they generate so much revenue from their casino fights. And it’s not just going to be casinos in NV & New Jersey in that are going after the huge fights any more. Asia is about to become a huge player in the mega-fight market.
Top Rank’s Bob Arum has already in 2013 brought two cards to Cotai Arena in Macau, a special administrative region in China. He will promote a pay-per-view bout there between Pacquiao & Brandon Rios on Nov. 23 (Nov. 24 in Asia). On Arum’s 1st show, the casinos in Macau recorded the biggest win in their history. Numbers for last month’s show aren’t available. But whatever they are, they’re going to be dwarfed by the November 2013 numbers, when Pacquiao fights there.
It is why Arum is going back & why the Asian casinos — Largely owned by the major casino owners in Nevada, such as Las Vegas NV Sands, MGM & Wynn – are eager to pay Top Rank huge money to secure the rights to the fights.