FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX 2023....Race.... ▄▀▄▀▄▀ SPOILERS ▄▀▄▀▄▀

If you think you can do better than the drivers, head down to Area15 and try out the Grand Prix Simulators (the seats move.)

https://area15.com/experiences/grand-prix-racing/


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https://www.reviewjournal.com/business/tourism/resort-leaders-concur-f1-was-best-las-vegas-event-in-history-2943009
Resort leaders concur: F1 was best Las Vegas event in history

As the Strip got back to its usual bumper-to-bumper traffic Sunday, hours after cars were racing on it at 200 mph, resort executives affirmed what they had predicted all along — that Southern Nevada appears to have had the best week financially in its history, thanks to the Formula One Las Vegas Grand Prix.

Executives among the estimated 315,000 people who attended the Saturday night spectacle said the event went better than they had hoped, that hotels and casinos were filled on a week that traditionally is one of the worst on the calendar and that they can’t wait to do it all again next year.

“The upside of this I thought was clear from the beginning, and that’s what we experienced over the last number of days,” Las Vegas Convention and Visitors Authority President and CEO Steve Hill said Sunday. “It’s going to be a record weekend for Las Vegas from an economic standpoint. It’s going to generate a lot of tax revenue and properties around the circuit did exceptionally well.”

Officials won’t be able to quantify exactly how big the economic bonanza will be for several weeks. The LVCVA’s November report revealing visitor volume, hotel occupancy rates and the average daily room rate paid by F1 visitors won’t be revealed until late December. That’s also when the Nevada Gaming Control Board publishes November’s casino gaming win for the month with tax revenue reports trailing that by a few more weeks.

Individual companies are expected to have more precise numbers when they report their fourth-quarter earnings in late January and early February.

Visitation

But anecdotally, visitation was off the charts Wednesday through Sunday, when visitors began their exodus.

Representatives of the city’s largest resorts said because of the visitor profile of the average F1 guest, the city’s luxury resorts — MGM Resorts International’s Bellagio, Cosmopolitan of Las Vegas and Aria properties, Caesars Entertainment Inc.’s Caesars Palace and Paris-Las Vegas and both Wynn Resorts Ltd.’s properties — did the best.

“We were completely full,” said Sean McBurney, regional president for Caesars Entertainment.


“Our properties in particular were within the heart of the circuit, and there are a lot of logistical complications as a result of that,” McBurney said. “How do team members get in, how do vendors get in, how do guests get around? But it was unbelievably smooth. And I spent four days at the race and talking to a lot of customers. I don’t know if I’ve been to an event where the feedback was so unanimously positive. For an event this complicated in year one, it was incredible. Absolutely incredible.”

Andrew Lanzino, MGM Resorts’ vice president of citywide events strategy, said the company had record performance at Aria, Cosmopolitan, MGM Grand and Park MGM.

“I think, regardless of where the properties were located, whether it was near the track or not, performed as if it was New Year’s Eve,” said Lanzino, who spent much of his time at the Bellagio Fountain Club.


Bill Hornbuckle, president and CEO of MGM, told CNBC that the club, a specially built grandstand and luxury boxes were the centerpiece of what the company offered high-end customers.

“We built this thing for the uber experience,” he said. “Tickets for the seats were $10,000 a piece. So we’ve been able to package that with guest rooms. The average rate this weekend at Bellagio was $2,200. And so that’s not for everyone, candidly. But it does give us a chance between here, Aria, Cosmopolitan, kind of the epicenter of our Las Vegas hub, to bring a very unique international crowd to see an event that they enjoy all over the world and now they can see it in Las Vegas.”

‘No small feat’

Wynn Resorts indicated in its third-quarter earnings call with investors that it was able to maintain occupancy and room rates when other companies said they had to reduce rates as the race date grew closer.

“The Las Vegas Grand Prix has achieved much in its inaugural year,” Wynn CEO said Craig Billings said in an emailed statement. “Standing up an event of this scale is no small feat. Wynn Las Vegas was proud to partner with F1, a number of teams, manufacturers and drivers on numerous events during the week and the reception from our patrons was exceptional. The Las Vegas Grand Prix achieved a level of spectacle that can only happen in Las Vegas.”


Hill said establishing the ability to be more inclusive of Las Vegas residents in future races is a goal they’ll strive for next year.

“The one thing I think everybody involved would like to see is a better opportunity for locals to be involved,” Hill said. “We were going to have the Fan Fest around the circuit this year, and we backed off of that because we just didn’t want to overload our public safety officials.

“We just weren’t sure if adding another 20,000 people, most of whom would have been local and driven, was going to hold up. But we’ll take a look at what those logistics would have looked like now with the information that everybody involved has.”

International exposure

Another positive that came out of the race was that people who had never seen Las Vegas got a chance to see it up close with Saturday night’s broadcast of the race.

“I think the best thing overall probably was the kind of exposure that this event brought to Las Vegas on an international level,” said Virginia Valentine, president and CEO of the Nevada Resort Association. “People all over the world are seeing the skyline that we see every day and maybe take for granted. But when you see it lit up at night like that, it’s pretty impressive.”

Gaming industry analysts also found numerous positives with F1 and said they anticipate the event to get even better over time.

“We proved that Vegas is a town that can host anything and everything and why it’s become the sports of entertainment capital of the world,” said Brendan Bussmann, a gaming industry analyst with Las Vegas-based B Global.

“Very few towns can do what we do not just on a daily basis but be able to host major events like F1, like the Super Bowl, like a CES, all those different things that are different events.”

Josh Swissman, founding partner of the Las Vegas-based Strategy Organization, said he thinks F1 will have better results than the Super Bowl, scheduled at Allegiant Stadium in February.

“I think this was unlike the other sort of big sporting events,” Swissman said. “This one took a lot of effort and you know even if you think that the initial estimates of the economic impact were a bit high this is still something that is ultimately going to be bigger from a financial impact standpoint than the Super Bowl will be.”

He said F1 could be even bigger as Americans learn more about the sport.

Matthew Chilton, founding partner of Las Vegas-based GMA Consulting, said the results of the racing week were even better than anticipated because the race itself was competitive, exciting and created considerable buzz among fans.

Because of the combination of a good race, a new and exciting venue and resort employees who created a perfect atmosphere, fans will take note of Las Vegas and make an effort to come in future years.

Formula One officials already have begun taking deposits for tickets for the 2024 event, which is scheduled Nov. 21-23.

 

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Shaq was lame......

Luckily I watched live in the River Oaks ..huge screen no sound..

 

We cheered, and it was 2AM Houston time!!

Well done!!

Even the opposing teams offered me a drink..

 

Viva VIVA!!!! VIVA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Again, Lap 36. Max to the team > Lets work together here, WE can get him (leclerc). It was on the live broadcast, too.
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Well in the US, especially Miami and now Vegas, $Liberty$ has to pay for the official appearances of far too many vapid, corporatized US "celebrities". So nice of them to grace us with their presence and lower the overall intellectual atmosphere and general class of the race by 4 or 5 notches. I've grown to dislike that element quite a bit.

I don't care how rich any of those lucky HS grads are, it's pathetic to see Martin beg for a comment about F1 from some famous imbecile who knows nothing about it....

 

They know FAR less about F1 itself.

 

I remember that quote, during the live broadcast. Lap 36 ... Max was the one pushing for the team effort against Leclerc.

 

Was lec that good or per that bad? A -1.5G is what I do in my converted vette Z06 racecar on DOT legal race tires. Was Per out for a sunday drive? Did anyone tell Per it was Saturday? RB really needs someone in the #2 seat but Ric isn't going to perform well either from what we can see from his impressiveness since his Mclaren stint.

 

The final numbers..... F1 in Vegas ended up being the largest economic impact event in Vegas history, beating the Super Bowl

Tourists spent big money in Las Vegas during F1.

https://www.reviewjournal.com/business/tourism/tourists-spent-big-money-in-las-vegas-during-f1-was-it-more-than-super-bowl-58-3031216

The Formula One Las Vegas Grand Prix in November produced the largest economic impact in history among Las Vegas special events while Super Bowl 58 three months later was a close second.

The Las Vegas Convention and Visitors Authority board of directors was told Tuesday that F1 had a net economic impact of $1.5 billion while the Super Bowl produced $1 billion.

“It’s really not as complicated as I think we ended up trying to make it,” Aguero said of F1, “but if we look at the 145,000 unique visitors that were in town and either attended the event or were in town because of the event, and we look at their spending, it is $884 million including the entire economic impact of that.

“A typical visitor to Las Vegas spends about $1,200 per person per trip,” he said. “A typical visitor that came for Formula One spent $4,100 per person per trip, which helped elevate the market overall.”

 

Math doesn't seem to add up, but okay. I guess the ridiculous prices are here to stay.

 

Meanwhile in other news Chicago reported that a typical visitor that came for the NASCAR race spent $ 12.45 per person per trip.

 

PT Barnum was right!!!

 

Well, look at it this way.

Allegiant Stadium holds 70,000 people. The Super Bowl is a one day event.

F1 stands held 130,000 people. Its a 3 day event.

A lot of those who came for F1 were from out of the country. If you travel abroad for a holiday, you spend more than you would domestically. The Strip Casinos were packed except during the race periods. All reported massive profits from gambling that week, which they have to report truthfully to the Nevada Gaming Commission.

 

They have also learned from their mistakes. The first time you do anything, particularly in a rush, there's going to be problems.

 

To be fair, the NASCAR ticket prices were actually steep for NASCAR. In fact the weekend VIP passes rivaled F1 prices, it was quite insane in that regard, yet it was still good attendance.

 

I wouldn't be surprised if the Vegas GP was more economically beneficial than the Superbowl. I am just saying the math doesn't work. No surprise since there is zero chance of accurately knowing the economics without having records from all the hotels, casinos, restaurants, merch venues, ticket prices, etc. Not to mention expenses like the new facilities, man power, closing road ways, etc. Typical reporting though, just say a number and then that's what it is. No facts required. The only "facts" they provided don't add up.

According to the report the average person spent $4100 for their trip to Vegas during the GP weekend and said 145,000 unique visitors. That's $594.5 million. The race claims a 3 day attendance of 315,000. Given people usually go for at least 2 of the 3 days. 145,000 people sounds believable.

The superbowl officially reported 61629 ticket sales. The average ticket sale according to stubhub was $8400. That's $517.68 million in ticket sales alone. Add in hotels, food and drinks, casinos, gambling, transportation, merch, etc etc etc. Plus most of the people that went to vegas for the Superbowl would have stayed more than just 2 days. Very likely a 3 or 4 day trip. The math is starting to suggest the Superbowl was far more profitable than the Vegas GP.

All of it's irrelevant because both were still successes, and the prices will remain out of reach for the average joe.

 

Is it worth mentioning that the 2023 race was a total sh*t show?