F1 Las Vegas Grand Prix: Billion-dollar revenue forecast as F1 set to rock Sin City

Liberty Media bosses predict that F1 will bring more than $1 billion to the local Las Vegas economy from this weekend’s money-spinning grand prix.
Las Vegas at night. Las Vegas Preview, USA
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Las Vegas at night. Las Vegas Preview, USA - www.xpbimages.com, EMail: requests@xpbimages…

Locals and ꧒tourists have been disrupted by the enormous operation to build t✤he pit building and circuit in the heart of the city.

The cost to F1 has be▨en estimated at around $500m.

“We’re going to✨ bring in something like $1.7 billion of revenue to the area,” Greg Maffei, CEO of F1’s owners Liberty Media, was quoted by .

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“I want to apologise to all the Las Vegas residents and we appreciate that they have their forbearance and t♋heir willingness to tolerate us.

“It’s not just for the benefit of fans who want to view. We hope t༺his is a great economi🥃c benefit in Las Vegas. 

“We hope this is the mꦍost difficult year with all the construction that went on and things will be easier in the 🔯future.

“There will be 105,000 people so the sheer scale of it, even for Las Vegas, will be the largest even💃t Las Vegas will have🦂.”

F1’s 10-year deal with Las Vegas

Unusually for Formula 1, they have chosen to purchase land in Las Vegas where they have built𝓰 their own pit building and brand-new track.

Normally they work with a local promoter to stage theirꩲ biggest races.

But in Vegas, F1ও has struck a🔯 10-year deal to race.

They invested around $240m to build the p🌃its and the paddoc🎶k.

The main building - which spans 300-square-feet and four storeys - will beco⛄me F1’s US headquarters after this grand prix.

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