Big event weekends, like a fight weekend are great for me, betting and spreading bigger than usual...playing in the shadows of the bigger bettors. And the last 24 hours was no exception.
But I don't want to talk about my performance, but rather the big fight itself from a business stand point.
I didn't see the fight, as I was working,
but all reports indicate the new arena was about 1/3 filled and likely many of those seats were comped. Did they price themselves right out of the market with tickets starting at $1500 in the nose bleed section? Yes, I know the real money comes from pay-per-view. I will be interested to see those numbers compared to projections.
But with the arena only 30% filled, doesn't that mean that all those Vegas hotel rooms which were going for $600 for a standard room at the lower end casinos, on up...remained unsold and empty? I think they priced themselves right out of the huge crowds expected, both at the arena and filling the hotel rooms.
Any thoughts?