Mega sport events have been in the focus of scientific work since years. Most of the authors deal with effects, impacts or the legacy of them, concentrating on economic aspects in that field. This study uses a stakeholder approach and tries to examine peculiarly the whole range of the Olympic Games of Rio 2016 by using a qualitative research method. Stakeholders from Latin America were asked about their expectations and perceived experiences regarding the first games in South America. Even if from different perspectives, respondents expected and perceived both positive and negative effects through RIO 2016. Their wishes were related to their individual development, further development of sports, intercultural exchange, and social learning. A similarly varied picture may be observed regarding the experiences perceived. In order to determine a comprehensive picture of RIO 2016 and its legacy, it is important to do a short-term as well as a long-term investigation.