Las Vegas, NV - August 03, 2012
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
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
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.
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.”
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/.