Super Bowl Expected to Generate $500 Million for Las Vegas Economy as Record Number of Americans Gear Up for Feb 11

Published 02/08/2024, 2:53 AM EST

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Las Vegas is where you should be this weekend! The stage for Super Bowl LVIII is set in Sin City. Allegiant Stadium has a capacity of more than 65,000 people, and the arena would be packed to the brim. Imagine the insane profits the city of Las Vegas will generate as the Kansas City Chiefs and the San Francisco 49ers battle it out!

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An estimated 150,000 visitors are expected in the city just for the Super Bowl. The culturally monumental event significantly impacts F&B, hospitality, and many others. It’s only fair to look at what’s in store for Vegas this month.

Will this Super Bowl make Las Vegas the sports capital as well?

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Initially, a report from the NRF pointed out that Super Bowl LVIII spending will surpass $17.3 billion this year. How? Well, some people are going to host house parties; others are visiting a bar or a pub; and some fans fortunate enough will be watching it live in Allegiant Stadium. The NRF report suggested that an average viewer is likely to spend $86.04 on F&B, party supplies, and merchandise.

Availing or purchasing these products might also involve third-party entities. Other retailers, delivery services, and broadcasting services might be in for profits. The US Chamber of Commerce predicts that Vegas is set to welcome about 150,000 visitors. These guests will likely spend about $215 million on food and drinks, accommodation, and game merchandise. What’s interesting is that this amount doesn’t include travel expenditures or any other sort of entertainment.

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According to the report, Vegas residents are also set to spend about $140 million on the event. The Vegas metro area expects approximately $500 million in Super Bowl revenue and another $70 million in local and state taxes.

The $17.3 billion in revenue is almost a 50% increase from a reported $8.7 billion in 2007. But what are the spending patterns ahead of this Super Bowl?

A deeper look into the expenditure trends

The NRF did a study on Super Bowl expenditure trends, suggesting that this Super Bowl is expected to generate more than $17 billion in revenue. It also mentioned that the highest expenditure (80%) will be on food and beverages. F&B is, after all, the most essential part of a house party.

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The cheapest ticket for the Super Bowl is about $5,700, and it can go as high as $29,000. The math would be overwhelming with a stadium capacity of more than 65,000. That’s why about 200 million people are set to watch the Super Bowl from the comfort of their homes.

USA Today via Reuters

Another exciting thing is that the ad slots on networks are sold out. The average cost of a 30-second ad is about $7 million. Local networks could also capitalize on this opportunity, bringing more money into the city.

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Will Patrick Mahomes cement the Chiefs’ greatness, or will Brock Purdy become one of the youngest players to win a Super Bowl Championship?

Watch This Story: Coach Jim Harbaugh Sets The Record Straight On Michigan’s Sign-Stealing Incident 

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Written by:

Abhinav Prakash

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Edited by:

Shubhankar Adhikari

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