NBA preseason game to bring $8.3M boost, says entrepreneur Julio Cabral

Puerto Rico is set to receive an $8.3 million economic boost when the Miami Heat face the Orlando Magic in a preseason NBA game on Oct. 4, according to Grupo DRDG founder Julio Cabral.
The event, produced by his company, will create a ripple effect across hotels, restaurants, transportation and local services.
“We already have more than 1,000 hotel nights reserved at the Vanderbilt. When you multiply that by average spending and apply the coefficient, the impact is significant,” Cabral said during a forum hosted by the Center for Economic Renewal, Growth and Excellence (Centro CRECE).
He explained the game will indirectly employ more than 800 people across transportation, marketing, security and production.
Cabral stressed that events like this illustrate the growth potential of Puerto Rico’s entertainment and creative industries.
“From restaurants to Uber drivers, everyone benefits. Even if you don’t attend the game, you may have driven more rides or sold more services that day. That’s the multiplier effect,” said Centro CRECE Executive Director Tere Nolla, who moderated the forum that took place late last week.
Beyond entertainment, Cabral underscored the value of exporting services from Puerto Rico, noting that Grupo DRDG currently operates in 17 countries through alliances in music, sports and investment projects.
“We saw the incentives code as an opportunity for how you export from Puerto Rico, whether it’s agriculture, knowledge or entertainment,” he said.
Cabral, who studied and worked abroad before returning to the island, said he decided to establish his business in Puerto Rico to “contribute day by day.”
He said entrepreneurs could take advantage of tax incentives and efficiencies available under local laws.
“Puerto Rico is a great place to do business if we all take the time to understand how incentives apply to us,” he noted.
He also pointed to the rise of what he called the “knowledge services economy” as Puerto Rico’s greatest intangible export.
“Making money is not bad; what matters is doing it well and contributing to society,” he said.
For Puerto Rico’s economy to grow, Cabral said, the focus must be on “exportation and productivity.”
He praised CRECE’s mission to promote entrepreneurship and economic freedom, describing it as essential for creating a sustainable ecosystem.