Topline
Miami, Denver and Las Vegas can expect to bring in tens of millions of dollars to their local economies as the NBA and NHL finals series start this week, as fans flock to see the best-of-seven series, spending thousands of dollars on tickets, hotels, restaurants and bars.
The Miami area is likely to take in tens of millions of dollars when the Miami Heat host the Denver … [+]
Key Facts
Southern Florida and Las Vegas, which host the NHL’s Stanley Cup Finals starting on Saturday, can expect to take in between $4 million and $8 million per game in regional economic impact, including at bars, restaurants and through merchandise sales, Denver Economic & Opportunity chief of staff Chelsea Rosty told the Denver Gazette last year, when the Colorado Avalanche advanced to their first NHL Finals series in more than 20 years.
According to one estimate from St. Louis firm Anders CPA and Advisors published by the U.S. Chamber of Commerce, cities hosting Stanley Cup Finals games can rake in as much as $50 million to the region throughout the series, largely from tickets, hotels, restaurant and merchandise sales.
Denver and Miami, which is also hosting the NBA Finals series starting Thursday night, can expect to take in $25 million over the NBA Finals in direct spending on fans’ expenses on hotels and rental cars, and as much as four times that amount in total economic impact, according to the Denver Metro Chamber of Commerce.
That would be on par with just two years ago, when the Milwaukee Bucks’ playoff run brought in roughly $57.6 million to the Milwaukee area through direct and indirect spending, according to data from Visit Milwaukee—$28 million of that came from the Bucks’ six-game win in the NBA Finals over the Phoenix Suns.
Big Number
$2,349. That’s the average price of an NBA Finals ticket on the secondary market, according to TicketiQ, making it the fourth-most expensive Finals series since the ticket seller started tracking NBA prices in 2010. Nuggets home game tickets will cost fans slightly more than tickets in Miami, averaging $2,587, over Miami’s $2,032.
Surprising Fact
There’s never been a city with a winning pair of NBA and NHL teams in a single season, though five cities have come painstakingly close. The first was Boston in back-to-back seasons in 1957 and 1958, when the Celtics won their first championship before failing to repeat, while the Bruins lost in both of their appearances. Six more pairs of teams from the same city advanced to the NBA Finals and Stanley Cup Finals over the next five decades: the 1972 New York Knicks Rangers, 1974 Bruins and Celtics, 1980 Philadelphia Flyers and 76ers, 1992 Chicago Blackhawks and Bulls, 1994 Knicks and Rangers and the 2003 New Jersey Devils and Nets. In 2016, both the Golden State Warriors and San Jose Sharks made it to the finals, though the San Francisco Bay-area teams (the Warriors played in Oakland at the time) lost in their respective series.
Further Reading
NBA Finals Tickets Set Record Up To $5,200 On Secondary Market (Forbes)
Source: https://www.forbes.com/sites/brianbushard/2023/06/01/nba-and-nhl-host-cities-will-rake-in-millions-this-weekend-heres-how-much/