This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NBA All-Star Game Coming to New York

NEW YORK ( TheStreet) -- The NBA All-Star Weekend is coming to New York City in 2015 and it won't just bring buckets of balls, it will also bring buckets of money. When Florida hosted the game in 2012, Orange County enjoyed more than $95 million in economic impact, according to a study by Strategic Marketing Services and SportsEconomics, LLC. The event also created more than 2,000 jobs and $2.4 million in new tax revenue.

Scott Minto, San Diego State University Sports MBA Director, points out that the timing is good for New York City. "It's a quiet time of the year, tourist-wise," says Minto. "The holidays are over, but it's still winter, so it's a good boost to the city."

Talk about a boost. Visitors are expected to bounce-pass millions of dollars for hotels, car services, food and drinks. Plus, don't forget about the parties. Houston hosted the 2013 NBA All-Star Game and counted 94 separate events and parties connected to it.

"We called it blood money," said Jennifer Mishriky of CTI Ground Transportation in Houston. "Because it was blood, sweat and tears to pull it off. We did a months' worth of work in four days." She also noted that they had to raise their prices during that time, due to the demand for cars. "There are only so many cars to go around, so if you wanted an airport transfer, you had to book the car for a 10-hour day."

Some may be offended thinking the fans are getting ripped off, but don't kid yourself -- this is a corporate event. "These are corporations coming in, entertaining clients and throwing parties," said Minto. Plus, he added, "There is an entertainment crossover with the NBA. Actors who wish they were athletes, rappers. It's the hottest ticket in town."

Mishriky agrees. "The NBA is the biggest party in town because the rap industry piggybacks the event." Her corporate drivers that normally deliver CEO's to board meetings were unaccustomed to staying out all night waiting for their party-going customers to finish. That shouldn't be a problem in NYC, which thrives on the late-night party.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MSG $151.58 0.00%
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs