boxing (as in the sport) videogames are never much fun, there isn't too much skill involved in pressing the few official punches that boxing allows and learning the counter blocks, you're left with a game that if you practice it enough becaomes VERy easy to master, as oposed to full fighting games where different characters have completely different fighting styles to master, and hundreds of moves each.
Plus boxing games pretty much have to be played from first person perspective, otherwise the left and right nature of the sport is lost, but a first person view whilst playing a boxing videogame is hard to pull off as in real life you'de be constantly moving your eyes/head around, and that just creates confusion and motion sickness in games.
Put simply, boxing games HAVE been made, and continue to be, they are just a rarity as the games never get that popular, sue to not being very playable.
The only truely great boxing games I can remember are Nintendo's Punch-out games on the NES and SNES, and even those were quite flawed compared to WWF style Wrestling games and Street Fighter 2 style fighters.
The Ultimate Fighting Chamionship games haven't been too bad, the dreamcast one was quite good actually. Not quite boxing obviously, but similar in the bloodsport kinda way...