The Formula 1 spectacle returns to the Las Vegas Strip this weekend for its second annual Las Vegas Grand Prix. Despite encountering issues last year with residents and businesses voicing concerns about traffic and a significant track malfunction that damaged Carlos Sainz’s Ferrari, the event delivered an exhilarating race atmosphere that matched the vibrancy of Las Vegas.
This year, anticipation is heightened with a more competitive championship landscape among drivers and teams. Liberty Media’s investment of $600 million in the Las Vegas event illustrates their commitment to enhancing Formula 1’s presence in the U.S. as they secure a 10-year racing deal.
Though experts predict a slight decrease in economic impact compared to last year—estimating around $500 million for Formula 1 and $1.5 billion for Las Vegas—the expected turnout of approximately 300,000 attendees, who typically spend significantly more than average visitors, promises a substantial boost for the city, the sport, and the racing teams.
Team principal of Williams F1, James Vowles, expressed optimism about the upcoming race, suggesting it will surpass last year’s event despite initial challenges. He highlighted the significance of the Las Vegas Grand Prix as a premier feature in the F1 calendar, which could potentially culminate in a championship decision this weekend.
Oliver Oakes, principal of BWT Alpine F1, credited Liberty Media for the growth of Formula 1 in the U.S., particularly following the rise in popularity due to the Netflix series “Drive to Survive.” He noted the transformation of race weekends into multi-day events filled with additional entertainment, underlining Liberty Media’s role in expanding F1’s appeal.
Overall, the Las Vegas Grand Prix not only represents a premier racing event but also reflects the ongoing evolution and expansion of racing culture in the United States, attracting greater audiences and elevating the economic landscape. The excitement surrounding this year’s event indicates a bright future for Formula 1 in the U.S., reinforcing its allure as a major player in global motorsport.