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Friday, November 13, 2009

Pacman Stimulus Boosts Rp and Vegas Economies

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Published on November 13, 2009 by Ariel Avenasa in Boxing

With barely two days left before the much-awaited fight of the year unfolds at the MGM Grand Garden Arena in Las Vegas unfolds on Saturday night, Pacmania is reaching fever pitch in the Philippines as well as in Las Vegas.

After being ravaged by three consecutive super typhoons recently, businesses in the Philippines are enjoying a sudden break in the clouds as they experience a welcome spike in sales in connection with the upcoming ‘Firepower’ pay-per-view bout of Pambansang Kamao Manny Pacquiao against Puerto Rican bomber Miguel Cotto on November 14 at the MGM Grand in Las Vegas, Nevada.

LCD Projector rental businesses all over the Philippines are enjoying brisk sales as they continue to receive requests for additional units to be set-up for group viewing at major hotel lobbies, conference rooms, restaurants, convention centers, and coffee shops
. Most projectors are rented out at a rate of Php 20,000 to Php 100,000 (about $425 to $120 USD).

Major cinemas nationwide will also be streaming the fight live at Php 400 to Php 550 a pop (about $8.50 to $11.70 USD). Seats have already been reserved in advance for the much-anticipated fight happening on Sunday morning (Manila time).

Meanwhile, back in Las Vegas where both protagonists made their grand arrivals earlier this week, it was not only the eager fans and media that welcomed the Filipino boxing superstar with open arms into the ‘Fight Capital’ of the world but also the city’s officials and business community.

Las Vegas City Mayor Oscar Goodman presented the keys to the city to both protagonists today. The Las Vegas Convention and Visitors Authority (LVCVA) on the other hand, said that they expect more than 15,000 spectators and millions of dollars in earnings from their hotel and gambling businesses as a result of this weekend’s fight. They noted that the city earned 10.7 million $ last May due to Pacquiao’s fight with Ricky Hatton.

Fans in Las Vegas are also purchasing souvenir items such as T-shirts, boxing gloves, and “Firepower” posters in droves as fight night nears.

Restaurants and closed-circuit venues in Las Vegas which will be showing the fight live have also become willing recipients of the spill-over business from the fight.”The closed-circuit locations are doing tremendously”, says Top Rank Chairman Bob Arum. “We had the quickest sellout of tickets in years. We base how the pay-per-view is going to do on those indicators. It should do absolutely great.”

Source: http://sportales.com/boxing/pacman-stimulus-boosts-rp-and-vegas-economies/

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