Daz makes the very pertinent point that one of the great benefits of hosting the games is "millions of pounds of profit". But profit for whom? Not for the ordinary council tax payer, but for private enterprise, with the initial investment coming from the public purse. The same thing that happened to all the public utilities that were flogged off.
I see nothing wrong in profit - "You can't tax a loss" as Enoch Powell said, but I object to the way it is glibly presented as a great benefit for all.