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MOTORSPORTS | Apr 02

The Revenue From Last Year’s F1 Las Vegas Grand Prix Will Shake Your World

The First Edition of the Las Vegas GP Generated Approximately $1.5 Billion

The Revenue From Last Year’s F1 Las Vegas Grand Prix Will Shake Your World
illustration 55 SAINZ Carlos | Photo Antonin Vincent / DPPI

Viva Las Vegas 🍾

With a potential 10-year deal in the works, everyone involved seems to be striking gold…

Remember all the buzz in F1 news about the Las Vegas Grand Prix last year? The glitz, the glam, the questionable driver parade? Well, guess what? It turns out all that razzle dazzle wasn’t just for show. A recent report revealed the Las Vegas Grand Prix raked a whopping $1.5 BILLION for the city! That’s right, with a B!

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Sin City Scores Big With F1 Frenzy

Sure, some folks raised an eyebrow at the disruptions caused by the race. There were protests, driver complaints, and the whole “taking over the Strip” thing. But hey, when the dust settles, the numbers don’t lie. The Grand Prix brought a whole new crowd to Vegas, one that spends a lot more than your average gambler. The typical LVGP attendee dropped $4,100 per trip, which is a whopping 3.6 times more than the usual Vegas visitor!

But the financial windfall wasn’t just for fancy hotels and casinos. The report shows the race generated over $329 million in direct economic impact, not including land acquisition costs. Local workers also cashed in, with $52 million paid out and over 7,300 jobs created.

Here’s the kicker: this is just the beginning. The Las Vegas Convention and Visitors Authority pays a cool $6.5 million annually to F1 for the privilege of hosting the race, and with a potential 10-year deal in the works, everyone involved seems to be striking gold.

 

Drivers: Not Fans of the Show, Big Fans of the Dough

Now, let’s talk about the drivers. Fresh off the race in Qatar, the grueling F1 schedule and massive time difference hit them hard. Las Vegas late-night race schedule threw some drivers for a loop, with Kevin Magnussen and Sergio Perez complaining about jet lag and the challenges of staying awake.

Max Verstappen wasn’t thrilled with the back-to-back races in Vegas and Abu Dhabi, citing the time difference as “tiring.” Adding fuel to the fire, F1 rumors mention that several drivers skipped a party for F1 president Stefano Domenicali, where attendance was supposedly requested. They may be too zonked from jet lag to party.

One thing’s for sure: the Las Vegas Grand Prix was a roaring success, both for the city and for F1’s bottom line. While the drivers might not have loved every minute of it, they can’t argue with the financial rewards. And hey, who knows? This year they’ll find a way to beat the jet lag and enjoy the bright lights of Vegas a little more!

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