Fools and Their Money Soon Go Separate Ways, Superbowl XLIX Edition

"Glendale, AZ Mayor Jerry Weiers figures the city will spend around $3 million and take in about $1.3, but he's still glad to have the event." So Glendale's "profit" must all be in the form of publicity and "good will" then, because otherwise that looks like a $1.7 million loss to me. Why do cities bid on these money losers?