BIG GAMES, BIG BUCKS - Las Vegas & the Economics of Professional Sports

Pro sports is about more than just "the thrill of victory" and "the agony of defeat".  It's grown into a massive global industry that contributes hundreds of millions of dollars to the economy.  As such, it should come as no surprise that Las Vegas wants to get a piece of the action.

And according to proponents, the impact pro sports can have on a community goes beyond what happens on the field or at the rink; job creation, tax revenue, and increased tourism are often cited as being big benefits to being the home of a pro sports franchise or hosting a big event like the Super Bowl or Formula 1.  These "benefits" are also the same ones brought up by team owners when they're trying to convince governments to hand over tax dollars to build new stadiums, as in the case of the Oakland A's likely relocation to Las Vegas.

But are these impacts real?  Do communities actually see any major economic benefit?  And is there an upside to the government handing hundreds of millions of dollars to billionaire team owners to build venues?

My guest is here to answer those questions - and more!  Victor Matheson is a Professor of Economics & Accounting specializing in Sports Economics at the College of the Holy Cross in Worcester, MA.  Victor has published numerous articles on the economic impact of hosting mega-sports events as well as the economics of sports stadiums, including the effects of public financing of sports facilities.

Follow Victor on Twitter and check out his Google Scholar profile to read his work.

__________________________________________________________________________

Become a Jeff Does Vegas Insider today for only $5 USD/month & enjoy all kinds of cool perks like early access to new episodes, commercial-free versions of EVERY episode, invites to exclusive live streams & videos, insider-only virtual hangouts and even real-life in-person hangouts IN Las Vegas!

Sign up NOW at patreon.com/jeffdoesvegas

__________________________________________________________________________

Jeff Does Vegas is an official Vegas.com affiliate! 

Help support the podcast & get exclusive deals by booking your hotel stays, shows, attractions, tours, clubs and even complete vacation packages (including air & hotel) with our special link!