Floyd Mayweather has beaten Manny Pacquiao on a points decision in one of the most lucrative boxing matches of all time.

Neither of the fighters succeeded in landing a winning blow during 12 rounds late on Saturday night, and judges awarded Mayweather the fight at the MGM Grand Hotel in Las Vegas, Nevada, on a points decision.

All three judges scored Mayweather higher than Pacquiao in a unanimous decision. The new unified WBC, WBA and WBO Welterweight champion scored 118-110, 116-112, 116-112.

American Mayweather took his unbeaten record to 48-0, with Pacquiao's record slumping to 57 wins and six losses after the Filipino's defeat.

Saturday's long-awaited bout, which had been more than five years in the making, transcended the traditional boxing scene.

It catapulted the sport back into the public consciousness and promised to rewrite the record books as the richest fight of all time.

Las Vegas was buzzing in the run-up to the welterweight world title showdown. The total revenue for the bout could reach $400m, driven by as many as three million pay-per-view purchases.

The figures - touted as high as a possible $180m payday for the unbeaten American and an estimated $120m bonanza for Philippine national icon Pacquiao - intensified the spotlight on a fight between two of the most successful boxers of their generation.

Al Jazeera's Andy Gallagher, reporting from Las Vegas, before the match, said the atmosphere in the city was "electric" as hundreds of thousands of people had swarmed there just to be close to the fight.

"It's been building up and counting down and now the streets of Las Vegas are completely packed," he said.

In the Philippines, Al Jazeera's Jamela Alindogan, reporting from General Santos, said an "unofficial holiday" had been declared in the country of 100 million, with streets packed with Pacquiao's supporters waiting to watch the match on TV screens.

Al Jazeera