Las Vegas GP organisers say F1 race generated $934m in revenue for the area

Las Vegas Grand Prix organisers have revealed that final yr’s Components 1 race generated $934million in income.

Figures revealed within the GP’s financial impression evaluation confirmed the competition is the biggest recurring occasion in Las Vegas with a race week attendance of 306,000, of which 175,000 have been from out-of-town.

Spending figures revealed that on common these guests spent $2400 throughout their go to – almost twice the common spent by guests to Vegas on motels, meals and drinks throughout their keep.

The report additionally exhibits that it generated $45m in taxes, of which $15.5m will probably be spent on faculties throughout the Nevada state.

The second instalment of the Las Vegas race, which was gained by George Russell, attracted a tv viewers of 56.1m and generated an estimated $6billion in publicity income.

The chief abstract stated: “The mix of total customer spending and F1 investments into infrastructure and occasion operations throughout 2024 generated $934million in financial exercise all through the Southern Nevada neighborhood.

“The financial impression of event-specific customer spending totalled $556m. Guests that traveled to Las Vegas and attended the occasion stayed 3.7 nights on common and spent greater than $2400 on non-race-related expenditures, together with resort rooms, meals and beverage, native transportation, purchasing, playing and leisure.

“To be clear, the $2400 per customer doesn’t embody the price of Las Vegas Grand Prix tickets; quite, it displays the direct financial advantages to Las Vegas from customer expenditures outdoors the race itself.”

The optimistic monetary report comes after the circuit introduced plans for a brand new Grand Prix Plaza – North America’s largest immersive F1 fan expertise – which can open on 29 March 2025.

Will probably be hosted in F1’s paddock constructing and have three points of interest, together with an interactive museum, F1 simulators and a kart observe on a part of the Las Vegas Strip Circuit.

“Grand Prix Plaza represents a major funding in the way forward for Components 1 in Las Vegas,” stated Emily Prazer, president and CEO of Las Vegas Grand Prix, Inc. and chief industrial officer for F1.

“These new points of interest will provide unprecedented entry to F1, giving many followers their first up-close take a look at a Components 1 automotive earlier than stepping right into a racing simulator and even karting on a portion of the Las Vegas Strip Circuit.

“As a part of our steadfast dedication to Las Vegas, we’re thrilled to supply considerably discounted pricing to locals in order that Grand Prix Plaza is an simply accessible neighborhood asset all yr lengthy.

“Grand Prix Plaza is among the jewels of F1 in North America, and we all know it’s going to present entry and experiences that may develop the game’s fanbase.”