Las Vegas GP breaks financial and viewing records

[ad_1]

It has been revealed that the 2023 Las Vegas Grand Prix produced the largest global TV audience in city’s history, according to a 113-page report by multiple Clark County agencies.

The financial aspect of the huge report was produced by Las Vegas firm Applied Analysis, which revealed that the Grand Prix promoted by F1 themselves had a total economic impact of $884 million.

This staggering figure includes $77 million in state and local taxes, a new record for a single event in Sin City.

However, the first Grand Prix in Las Vegas since 1982 did have its flaws, with some casinos and gambling companies having reported a reduction in customers as a result of the event.

This was not the case across the board, as some venues reported an increase in footfall in wealthy customers.

The biggest issue with the Las Vegas GP was the disruption caused to locals during the development of the circuit, which took nine months to build.

Diverted bus routes reportedly impacted 25,000 locals daily and led to their journey being extended by up to an hour.

Manhole cover issues continue

Ahead of the 2024 event, several of the issues experienced last November are being addressed, although 12 manhole covers are still awaiting upgrades.

It was a loose manhole cover which caused huge delays to last season’s event and severely damaged Carlos Sainz’s Ferrari.

The manhole covers around the circuit are also in need of corrosion protection, in what is a detailed task ahead of the race later in the year. However, the track does not require a resurfacing, which will reduce disruption to locals ahead of the race.

“There were no surprises in that report,” said Las Vegas Grand Prix’s chief operating officer Betsy Fretwell, as per PlanetF1.

“We were already working toward addressing many of those issues. We’re becoming more efficient, coordinating better with the county [and] enhancing our communication.

“It was a new event and it was complicated because it was a street circuit,” she said. “We have to make sure all these businesses have openings and closings.”

[ad_2]

Source

Leave a Comment