The 2024 Super Bowl will leave profits of between US$700 and US$1,000 million

The 2024 Super Bowl will leave profits of between US$700 and US$1,000 million

Super Bowl LVIII, that will take place in the Allegiant Stadium between Kansas City Chiefs and San Francisco 49ers It is expected to generate a huge amount of money for Las Vegas, Nevada: approximately between US$700 million and US$1,000 million.

It is a fact that, beyond sports, the final of the NFL It is an event that promotes exponential economic growth for the state that hosts it, increasing income in several of the main areas of the economy; especially tourism.

“He superbowl It will likely be a boon for the local economy as tourism spending increases as a result of visitors from around the world flocking to watch the game, whether at the stadium or in one of the many bars, restaurants or casinos. “, they said Charlie Dougherty and Patrick Barley, bank economists Wells Fargo.

Super Bowl 2024: how much profit will it leave Las Vegas?

It is not the first major sporting event that “Sin City” has received in recent years; It hosted the Las Vegas Grand Prix in November 2023 and hosted the NBA Summer League earlier the same year in “the Sphere.” These two activities significantly increased the visibility for Las Vegas, to the point that even greater growth in the monetary aspect is expected in the coming summers.

Meanwhile, most analysts project between US$700 and US$1,000 million in combined direct and incremental spending by visitors and local residents around the celebration of the game.

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Las Vegas will receive the 2024 Super Bowl with its million-dollar bets

The weeklong activities began Monday with the Opening Night event, which attracted nearly 30,000 fans who paid $30 a ticket at Allegiant Stadium. The family experience of the NFL Super Bowl at Mandalay Bay was extended until yesterday and admission was $50 per person.

The most significant question is whether the visits associated with the celebration of the superbowl in Las Vegas they would displace visitors who traditionally come during the game weekend.

Jeeremy Aguero, principal analyst at the consulting firm Applied Analysis, shared a study that used the Las Vegas Convention and Visitors Authority when he proposed to the NFL that organized the Ssuper bowl 2024 three years ago.

In that report, Aguero cited “effects of displaced visitors” which estimated that more than $78 million could be lost of the estimated $515 million that could be spent directly by those attending the game.

But Super Bowl LVIII generated the highest average hotel room rates the market has ever seen, along with record spending estimates on non-gaming and betting activities.

Most fans who attended Monday’s opening night event said they were in Las Vegas to go to gambling-related events. Ticket prices for the game are in the four- and five-figure range, the highest gate fee for any Super Bowl.

“Although there will only be 60,000 people at the game, I think about 120,000 are going to be in the city specifically because the game will be played here,” Agüero said.

The analyst said he believes Las Vegas visitors who have been coming for years to watch the game on the Strip won’t change their routines.

“Imagine how many things have been learned in the last 58 years about how to activate Las Vegas for the Super Bowl,” Aguero said. “The Super Bowl is different from other events.”

Source: Ambito

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