Nevada Athletic Commission Reports Record Revenue for 2012


Contact

Teri Williams
Public Information Officer
(702) 486-0407
Las Vegas, NV - August 03, 2012

The Nevada Athletic Commission today announced a 71% increase in revenue for the fiscal year ending June 30, 2012.  The $5.3 million collected in FY 2012 establishes a new record, surpassing the prior record of $4.8 million set in FY 2007 and exceeding FY 2011 revenues of $3.1 million.

 

According to Athletic Commission Executive Director Keith Kizer, “The significant increase in revenue can be largely attributed to the occurrence of two Floyd Mayweather cards, two Manny Pacquiao cards and several UFC cards occurring within the fiscal year.  Nevada continues to be the top draw for promoters, television networks and athletes looking for venues to host their events.  It has also been great for fight fans, who live in or travel to Nevada, to have so many exciting events to attend.”

 

Revenue is generated as a result of the Athletic Commission’s oversight and regulatory activities including licensing of fighters and promoters, gate fee collections and broadcast fees.  Annual revenue is returned to the State General Fund with the exception of a pool of money collected through a minimal ticket surcharge designated to fund amateur unarmed combat grants.

 

The amateur grant fund also saw an increase in FY 2012.  Due to increased ticket sales, the fund was able to collect more than $121,000 for the grant program.  Every ticket sold for admission to a live professional contest of unarmed combat held within the state is subject to a fee of up to $1.00 paid by the promoter.  Funds are aggregated and distributed through a grant process for the purpose of promoting the growth of amateur boxing, kickboxing, and mixed martial arts in Nevada, and the health and safety of the amateur athletes. 

 

“The existence of the amateur grant fund has benefitted many young athletes over the years, including providing financial assistance to amateur athletes  with tremendous potential, many of whom have gone on to participate in various levels of competition, including the Olympic games and subsequent professional careers,” said Kizer. “The funding has also contributed to many of them later obtaining scholarships for higher education.”

 

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About the Nevada Athletic Commission:

The Nevada Athletic Commission, an agency of the Nevada Department of Business and Industry, was established by an act of the Nevada legislature in 1941.  Since that time, the Commission has regulated professional unarmed combat including boxing, kickboxing and mixed martial arts in Nevada.  The conduct and regulation of unarmed combat in Nevada are governed by NRS Chapter 467, and are further clarified by Chapter 467 of the Nevada Administrative Code.  The Commission administers state laws and regulations governing unarmed combat for the protection of the public and to ensure the health and safety of the contestants.

For more information about the Nevada Athletic Commission, visit http://boxing.nv.gov/.