Yup. They're going to play the early buyers for suckers and wonder why attendance dropped off in year 2.
I wrote it off already. Screw them. Ended up buying the bigger TV like I suggested! Image Unavailable, Please Login
Now you need one of these to cover the wires! Just installed today... Image Unavailable, Please Login
Progress as of today! This is looking South West toward the Strip. You can see the MGM grand, Tropicana, NYNY, and Excalibur in the upper area of the photo. Image Unavailable, Please Login
F1 will generate more money than the SUPER BOWL. More tickets coming soon... F1 Las Vegas Grand Prix’s economic impact projected to top $1B https://www.reviewjournal.com/sports/motor-sports/formula-1/f1-las-vegas-grand-prixs-economic-impact-projected-to-top-1b-2717257/ The inaugural Formula One Las Vegas Grand Prix is projected to have an overall economic impact to the tune of almost $1.3 billion. The figure for the race taking place Nov. 16-18 comes from an economic impact report conducted by Applied Analysis and announced by Las Vegas Grand Prix CEO Renee Wilm on Monday during Preview Las Vegas at the Las Vegas Convention Center. It includes $966 million in projected F1 visitor spending and $316 million in event operations and support costs. Wilm noted that the race is expected to see around 100,000 attendees daily for practice and qualifying rounds and for the grand prix race itself. This year’s race is expected to be made up largely of domestic tourists, but a larger contingent of international visitors is expected to attend future races. “The truth is that we sold out so quickly on the first wave that the European and our Asian fans didn’t even get the chance, due to the time zones, to participate,” Wilm said. The next round of ticket sales, one with a larger allotment, is expected to begin in late February or early March. A similar economic impact study was conducted by Applied Analysis for the Super Bowl taking place in February 2024 at Allegiant Stadium in Las Vegas. That report showed that the NFL’s championship game and events tied to it would leave an economic impact of $600 million. Formula One President and CEO Stefano Domenicali pointed out that unlike the Super Bowl, the race is slated to occur annually in Las Vegas for the foreseeable future and won’t be a one-time deal. “Super Bowl will be for one year, but we’re going to stay for a long time,” Domenicali said. “We are going to have a continuous flag here in the city, and we are going to mark not only for the week of the event, but we are going to mark F1 in Vegas as a place where we will develop the sport.” The race is expected to employ over 7,700 people in total, with $361 million in salaries and wages tied to those jobs, according to the report. The infrastructure work needed before Formula One race cars take to the Strip with speeds as fast as 212 mph will begin in April. Race organizers will attempt to make the traffic impacts tied to the road work on the race’s circuit as minimal as possible during the almost seven-month work period. “It will be done in small chunks so that we are trying to mitigate the inconvenience,” Wilm said. “We understand you guys have businesses to run, visitors to entertain and to provide hospitality to. We know how difficult traffic can be in a town like this.” The race’s 3.8-mile circuit will include portions of Las Vegas Boulevard, Spring Mountain Road, Koval Lane and Harmon Avenue. The hope is that the majority of motorists won’t make too much of a fuss about the road work while it’s occurring, knowing the projected financial impact the race will have on the city. “I’m not sure if you didn’t know that it was a Formula One circuit that was being built, you wouldn’t think any different from the normal road infrastructure work that we have to do anyway,” said Steve Hill, President and CEO of the Las Vegas Convention and Visitors Authority. “We’ll probably put some fancy signage on it and hope people will appreciate it more that the orange cones are there. It will just be a lane or two at a time in segments along that route.” Formula One could ask Clark County for at least a portion of the projected $30 million it will take to carry out the needed infrastructure work, County Commissioner Michael Naft previously told the Las Vegas Review-Journal. Those talks are ongoing and what, if any, public money will go toward that work is still undetermined. The paddock site that will serve as the main hub of race activity is going up quickly on 39 acres of land owned by F1 parent company Liberty Media, located at the intersection of Koval and Harmon. All in all F1 is expected to spend about $500 million between the land acquisition and paddock construction. The 300,000-square-foot facility will feature the race’s start/finish line, driver pits, VIP areas and various spectator grandstands located around the site. Crews are working triple shifts daily to ensure that the space is ready come race weekend in a little under 10 months. “We want to make sure it’s completely done and fully vetted, operational and ready to go in advance of the race weekend,” Wilm said. “We are leaving nothing to chance.”
Formula One, county agree to make race a long-term Las Vegas event https://www.reviewjournal.com/sports/motor-sports/formula-1/formula-one-county-agree-to-make-race-a-long-term-las-vegas-event-2721971/ Clark County is set to recognize the Formula One Las Vegas Grand Prix as an annual event for at least the next 10 years. This is a big step in securing an event that is expected to generate an economic impact of around $1 billion, twice that of a Super Bowl. When announced last November, the race was noted to be occurring for at least three years in-and-around the Strip. But F1 and area officials have been adamant since that the race would be a long-term fixture on the city’s event calendar. “It is going to be the biggest event in the world in 2023,” said Steve Hill, Las Vegas Convention and Visitors Authority President and CEO. “Having Formula One on Las Vegas Boulevard on a Saturday night just isn’t going to be beaten. People want to be here for that, so we’re excited and our resort partners are excited, too.” The decade-long agreement notes the race would take place annually the weekend before Thanksgiving beginning this year and running through at least through 2032. “Our current agreement for an annual race extends through 2025,” the Las Vegas Grand Prix said in a statement. “That said, Formula 1 and Liberty Media have invested in Las Vegas with the purchase of the 39 acres of land, building a 250,000 square-foot paddock building and philanthropic efforts to support the local community. Making Las Vegas a permanent Grand Prix stop on the F1 calendar is our goal, and a 10-year approval provides us with the certainty that race weekend would be available on the calendar for the long term.” The county would also recognize the race will run on both public and private rights of way. Clark County would also waive an ordinance that doesn’t approve permits for events to occur on the Strip between Sahara and Tropicana avenues, except for Saturdays, Sundays and legal holidays, between one hour after sunrise and one hour before sunset. The ordinance states that typically isn’t allowed due to traffic concerns. The 3.8-mile, 50-lap race taking place at night includes a stretch on Las Vegas Boulevard between Spring Mountain Road and Harmon Avenue. Waiving that ordinance only holds true if the race is held on the weekend before Thanksgiving each year. Clark County would also work with race officials setting up the race each year. The set-up work is tentatively slated to occur over five days, running between the Wednesday through the Sunday ahead of race week. There is around $30 million worth of infrastructure work that needs to be conducted before the first race takes place Nov. 16-18. Clark County Commissioner Michael Naft noted last year that F1 officials could seek public assistance to help pay for some of that work. Liberty Media, F1’s parent company, has begun work on its paddock building located at the intersection of Harmon and Koval Lane. The four-story, 300,000 square-foot facility will serve as the main hub of race day activity. The start/finish line, driver pits, VIP space and spectator areas are planned for the 39-acre site. Liberty Media is expected to spend $500 million on the paddock site. “It is absolutely incredible how quickly that building is going up,” said Renee Wilm, Las Vegas Grand Prix CEO.
F1 supplier rents bigger warehouse ahead of Las Vegas race https://www.reviewjournal.com/business/f1-supplier-rents-bigger-warehouse-ahead-of-las-vegas-race-2718700/ A new industrial project near Nellis Air Force Base landed a tenant that says it will supply luxury suites for Las Vegas’ upcoming Formula One race. llinois-based InProduction, which provides temporary seating, staging and the like for events, leased a newly built warehouse that spans more than 102,000 square feet, brokerage firm Cushman & Wakefield announced this week. Cushman represented the tenant, which expects to occupy the building, near the intersection of Lamb Boulevard and Cheyenne Avenue in the northeast Las Vegas Valley, next month. InProduction President and CEO Jason Tedrow confirmed to the Review-Journal his firm is moving there from a smaller industrial space a few miles away. “We need to expand our operation in Vegas,” he said, noting America’s casino capital is a major entertainment hub with lots of big events. He said that the company is providing several “multi-level hospitality structures” for the F1 race and that they’re more like luxury suites. For the most part, they will be along Koval Lane just east of the Strip. A spokeswoman for F1 owner Liberty Media Corp. did not respond to a request for comment. Scheduled for Nov. 16-18, Las Vegas’ Formula One race is poised to draw huge crowds. The 3.8-mile route will include a stretch of the Strip, and drivers are expected to reach speeds of more than 200 mph. Casino chain Caesars Entertainment Inc. unveiled a $5 million VIP “Emperor Package” for the race that includes five nights in a villa with views of the track. MGM Resorts International announced it will build grandstands in front of Bellagio’s iconic fountains for the event. “Access to these epic seats is currently only available as part of MGM Resorts’ race-and-stay packages,” the casino giant said in a news release. The race is expected to produce a windfall of spending in Las Vegas, with almost $1.3 billion in total economic impact, according to an announcement Monday from Las Vegas Grand Prix CEO Renee Wilm. InProduction, for its part, locked up a new warehouse amid strong demand for distribution space in Southern Nevada. The local industrial market’s vacancy rate was a record-low 1.3 percent in the third quarter last year, brokerage Colliers International reported. Developer EBS Realty Partners broke ground on the northeast valley project last May without a user lined up first, a common approach to warehouse development in Southern Nevada. It finalized a lease with InProduction last month, EBS founder and managing principal Quinn Johnson told the Review-Journal. “We had a lot of tenant activity on it,” he said.
Got this "exclusive offer" from Amex today. $16,000 per PERSON not including hotel rooms.... Image Unavailable, Please Login
Having looked at Paddock club tickets etc... I've decided I'm not going ... its just way - way- way too expensive.... unless one of our suppliers will give me a pass... its almost stupid $$$.... same for Miami...
I’m going to get more out of the race by watching it on my $80 F1TV experience than I would any package for sale. That and the free YouTube videos they’ll put out. I love F1 but it’s clearly for elites only now. Peasants (like me) need not apply. lol
Agree with both. The cost is insane. And it's only going to get worse. To charge that sort of money I don't want to listen to a bunch of leafblowers.
Its not only for elites... its just for conspicuous consumption - spending.... $16k for a paddock club tix - and you still really dont see much of the cars - you get maybe 20 min in the garage ... and 1 hour pit lane walk... and nice food... I fear they are gouging and doing damage all the same ... one day F1 will lose its shine....
Indeed - and the food will be way better too! I was talking with a long time Ferrari friend - who has all the latest cars - and goes to all the F-1 races and even he said "I'm done, the prices are crazy, the Paddock club is not what it used to be, you don't seen anything etc.." I was shocked - it was the same thing I was saying... its a shame, that even if you have the means, its not as good as it once was... such a shame.
Latest rendering of the Start / Finish line looking north. Its a photograph with the track rendered on top.
Got an email blast this morning: Next wave of Tickets will go on sale to the public on March 24. Prices for the 3 day pass are between $2500 and $1500 each for a grandstand and $500 for a 3 day pass for standing room. Grandstand Tickets and General Admission prices include food and non-alcoholic beverages. https://www.f1lasvegasgp.com/tickets
I figured they were going to do this. The "new" grandstand seats better not be better views than the ones I paid a ****ton for. Really, though, I think the tickets I do have won't be bad. Approximate location Image Unavailable, Please Login
