Mr Jackson described the weekend, which comprised a music festival on Friday night, a gala dinner for 640 people on Saturday evening and a breakfast for about 300 people on Sunday, along with the tournament itself, as a "huge success".
"The support from the community and all the volunteers was humbling.
"All rolled up their sleeves for the benefit of everyone in this community."
Early last year, Mr Jackson had said it was hoped the tournament would attract 40 teams, including at least 10 from overseas.
It was reported in May 2010 that Oamaru could benefit by about $3.5 million from the about 1000 people visiting the rugby festival during the Rugby World Cup.
However, only 18 teams and supporters came to the tournament, totalling about 700 visitors.
Initially, it was intended that many attending would stay at a campervan village at Centennial Park, which was to cater for up to 100 campervans per night over a month-long period.
The campervan village was set up for a short time in early September, but was then closed because of a lack of interest.
Mr Jackson said those travelling in campervans had gone to areas where the games were being played.
"Maybe people didn't see Oamaru as a destination," he said.
A proposed match between a "world XV" and a Waitaki invitational XV on Sunday was cancelled, partly because of the "huge interest" in Ireland's pivotal clash with Italy in Dunedin.
However, while the number of teams and campervans had been overestimated, the number of supporters travelling with the sides taking part was greater than expected.
One team had brought a total of 48 people, and the Marlborough Vintage Musseleers were accompanied by a netball team, which also played a game in Oamaru.
Seven thousand sausages were ordered for the weekend, along with 1300 eggs for Saturday's breakfast.
Mr Jackson said more than $300,000 was spent on the festivities, including $92,000 of money received in a grant from the New Zealand Lottery Grants Board.
The Bog Rocks Music Festival had taken up $50,000 "before a song had been sung", he said.
It was too early to say whether the weekend had been a financial success as "we're still adding up and banking money at this stage".
Staging the tournament had been a "huge financial undertaking", but the risks were mitigated by "comprehensive insurance", he said.
A few Oamaru businesses were positioned to profit considerably from the weekend.
Cathy Maaka, manager of the Northstar Motel, said Friday night's trade was equivalent to the annual rugby match between Waitaki Boys' High School and St Kevin's College.
"The restaurant and bar hummed all night long," she said.
It is understood that Fat Sallys Pub and Restaurant were busy on Saturday night.
The intention was to leave a legacy for the future, Mr Jackson said.
Planning was under way to hold a golden oldies tournament in the town every two years, and a possibility for an annual concert to be held the week before Christmas.
