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Las Vegas GP reached 2.7 Billion people with massive economic benefits to Sin City

Originally posted on FirstSportz | By Aditya Pandya | Last updated 1/29/24

Formula 1 has grown rapidly in the United States in recent years. The three American races have been extremely successful due to the massive rise in fans as well as the lucrative sponsorship deals. Notably, the inaugural Las Vegas GP had some impressive stats.

Reports suggest that the race helped the Nevadan city earn massive sums during the weekend. The event sold approximately 316,000 tickets for the inaugural race, and each guest spent approximately $4100 during the race weekend. Factoring in all the monetary gains from Wages, payments to suppliers, etc, helped gain the country an estimate of over $800 Million.

Additionally, the inflated ticket prices of the Las Vegas GP including ultra-luxurious race packages did not stop from turning the event into a huge success. The entire event gained 2.7 Billion viewers from all over the world, constituting the major success of the third American race in F1 last season. A mammoth figure for a race weekend. Additionally, the race presented great racing action for all the drivers and fans alike and was the cherry on top for the fans of the sport. Despite the massive backlash due to multiple challenges along the way, the Las Vegas GP was indeed a grand success.

F1 spent over $500 Million on the Great Circus in Las Vegas

The inaugural event received massive attention solely due to its presence on the iconic Vegas strip. Hence, F1 was expected to deliver a great show, and it did. The entire weekend was filled with new activities and celebrities from all over the world. F1 also leased the infamous $2.1 Billion sphere solely for the Las Vegas GP, around which the Nevadan circuit ran.

Despite facing heavy backlash from Max Verstappen over the glamorous Las Vegas GP, the Dutchman sang along the lines of “Viva Las Vegas” following his victory. Hence, it is safe to say that the Las Vegas GP was a grand success and proved that FIA and Liberty Media worked hard to make the show even better. However, F1 could have avoided minor unexpected hitches along the way.

Regardless, the 2024 calendar will feature a fully-stacked 24-race calendar for the drivers. Many driver’s contracts will expire by this season and hence the following season will be exciting for the drivers and fans. Some drivers have already revealed their contracts with their respective teams ahead of the 2024 season.

This article first appeared on FirstSportz and was syndicated with permission.

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