2024 Olympics Odds Improve for Los Angeles as Rome Withdrawals

Posted on: October 12, 2016, 12:00h. 

Last updated on: October 12, 2016, 12:17h.

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Expertise: Commercial Gaming.

The 2024 Olympics is still in need of a host city, and following Rome’s withdrawal?this week, Los Angeles is emerging as a favorite for the games.

2024 Olympics Los Angeles Rome withdrawals
Following Rome’s withdrawal from 2024 consideration, Los Angeles Memorial Coliseum is a favorite to once again host the Olympics. (Image: Grant Lamos IV/Getty Images)

“Today, the game is over,” Italian Olympic Committee President Giovanni Malago told the Associated Press. “The bid committee is officially liquidated as of today. It’s a big wound for us.”

Italian officials faced fierce public opposition on the games due to financial concerns.

With Rome officially out, the International Olympic Committee (IOC) is down to just three remaining candidate cities. Along with Los Angeles, Budapest and Paris are still in the running.

Germany cancelled its Hamburg bid last November.

“On behalf of all of us at LA 2024, we are disappointed in today’s news as we have enjoyed our interactions with the leaders of the Rome 2024 bid,” LA 2024 Chairman Casey Wasserman said in a statement. “We regard Team Rome as great professionals and true Olympic enthusiasts who have always carried the Olympic values of friendship, respect and excellence in their bid.”

The host of the 2024 Olympics will be announced on September 13, 2017, during the 130th IOC Session.

Guardian Angel

Fresh off the highly criticized 2016 Summer Olympics in Rio de Janeiro where serious concerns over inadequate infrastructure, environmental cleanliness, and crime threats arose, the IOC is expected to look for more developed host cities.

The problem is, most major cities don’t want the games in their backyards.?Brazil is in an economic crisis, but spent upwards of $5 billion this summer in Rio.

Russia is still paying for the Sochi 2014 Winter Olympics that cost over $50 billion, the most expensive Olympics ever. In August, Russia announced it would allow gambling to commence in Sochi to help pay down lingering debts.

Tokyo’s government recently revealed that it now expects its hosting of the 2020 Olympics to cost $30 billion, more than four times initial estimates.

The United States Olympic Committee (USOC) originally selected Boston as its candidate city, but Beantown backed out after public support vanished. Los Angeles, the so-called City of Angels, stepped in to save the USOC from even more embarrassment.

Once an honor to host the Olympics, the IOC had just two city candidates to choose from for the 2022 Winter Games. And now the committee has just three for 2024.

The IOC is staying mum on Rome’s withdrawal, but Paris and Los Angeles are the favorites according to Coral’s online sportsbook.

Guaranteed to Medal

With just three cities left for 2024, Los Angeles is at least guaranteed to come in third. Of course, that doesn’t mean squat for those who want to bring the games to Los Angeles.

If Los Angeles is selected, it would return the Olympics to US soil for the first time since 2002 when Salt Lake City welcomed the Winter Olympics.

It would also mark Los Angeles’ third time hosting the Summer Games, joining London, Athens, Lake Placid, Innsbruck, and St. Moritz as the only cities to host an Olympics three times.