Vegas Goes Mad for NCAA Basketball
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They call it “March Madness,” but we call it “March FABness,” because this annual collegiate sporting event is a fabulous financial bonanza that greatly benefits the local Las Vegas economy.
It’s no secret that Vegas is a sports-crazy town. From the UNLV Runnin’ Rebels and the prospect of a major NHL hockey team, to uber-championship boxing matches, golf tournaments, NASCAR, and the Super Bowl, no other city in America – or in the world for that matter – celebrates sports like Las Vegas does.
So it should come as no surprise that the 2015 NCAA Basketball Tournament is a slam dunk when it comes to filling hotel rooms and keeping local sports books packed with rabid fans clutching their brackets and betting the odds on their favorite college hoops teams.
In fact, many people rearrange their lives just so they can hoof it to Vegas during tourney time. Like the young man who moved up his bachelor party so he and his buddies could combine partying in Las Vegas with watching the games.
Show us the money
According to the Las Vegas Review-Journal newspaper, the financial impact on Las Vegas is truly significant. The newspaper reports that hotel occupancy rates during the 2013 tournament skyrocketed to 97%, compared to just 86% for last year’s Super Bowl. When combined with NASCAR, also happening in March, both events drove more than 3.5 million visitors to the world’s gaming capital in that month alone. The article goes on to state that visitors coming in for the games are big spenders as well, averaging much more than the $650+ in non-gaming revenues of typical visitors.
Unlike the annual Big Game, the NCAA Tournament features 64 teams and lasts from March 15-April 6 with the championship game at Lucas Oil Stadium in Indianapolis. This means that many more people are invested in watching their teams make a run for the Final Four than in other one-off events. With more than $12 billion being wagered during the three weeks of the tournament, it has become the national biggest sports gambling event of the year. In fact, the American Gaming Association reports that there is more money wagered in the first four days of the tournament than on the Super Bowl! And that’s not surprising when you consider the sheer magnitude of proposition bets (aka “prop bets”) ranging from how many game-winning buzzer beaters will there be to the largest margin of victory by any team in round one.
Since only four states currently allow sports wagering (Nevada, Delaware, Oregon, and Montana), it’s a sure bet that the lion’s share of the action is right here in Las Vegas. Estimates are that anywhere from $90 million to upwards of $200 million will be wagered at local sports books.
Let’s get the party started
Because Las Vegas is the ultimate party town for just about any event of any size, it stands to reason that the city gives people the opportunity to experience all of the excitement in just about any way imaginable. Of course, securing private ultra-lux suites overlooking the dazzling Strip can afford a very “up close and personal” way for smaller groups to avoid the maddening crowds down at the sports book for a truly VIP college hoops event.
Additionally, many casinos also offer unique and unconventional ways to enjoy the action by allowing private groups to rent specific areas of the casino floor, in some instances even certain bars and restaurants, for tournament viewing parties. Usually there is a minimum F & B component and other requirements which can be negotiated with the resort.
Thanks to our exclusive “Vegas Know Power™” we here at Destination Fabulous DMC have the experience and the key relationships in the resort industry that allow us to make your very own dream NCAA tournament private event a reality. All it takes is a little bit of imagination and we’ll do the rest.
March Fabness is in the house
Not to be outdone, we here at Destination Fabulous DMC, Las Vegas’ premier event management company, have our own “skin in the game,” so to speak, with our exciting, bracket-busting “MARCH FABNESS” promotion, going on now through April 6. Forget the NCAA and welcome to the “DMCA,” where our team of Las Vegas event planning professionals are ready to create your next championship-caliber Las Vegas special event
So gather ‘round “Coach Maguire” and I’ll diagram the winning play that may just put a spectacular 60-inch TV in your living room, just in time to tune in to all the frenzied college hoops action:
I want you to take the inbounds pass, drive to the hoop, and score this name-brand HD TV with a retail value of up to $800* by signing and delivering a $50,000 minimum contract to Destination Fabulous prior to the April 6 deadline. Swish! Nothing but net!
To learn more about MARCH FABNESS, click here.
Whether it’s driving to the basket down low in the paint, or enjoying all the excitement of the 2015 NCAA Basketball Tournament on your new 60-inch high-def TV, one thing is certain: Size matters.
When the clock is ticking down and the game is on the line, our veteran Destination Fabulous team is ready to come off the bench and make the fabulous “highlight reel” plays that will ensure a memorable victory for your next Las Vegas event.
And the crowd goes wild!
Be fabulous,
Belinda
Sources:
http://www.reviewjournal.com/business/march-madness-vegas-busy-hotels-bud-lite-and-bustling-books
http://www.foxbusiness.com/investing/2013/03/22/march-madness-gambler-paradise/
http://time.com/33698/why-las-vegas-loves-march-madness-way-more-than-the-super-bowl/