The Grand Prix at Las Vegas would likely be the most significant event F1 has ever hosted. The race has been the talk of the town. The race is coming to the strip, and when the entertainment capital of the world meets the world’s fastest race, one can expect a huge spectacle.
The race takes place at night, November 16–18, in the heart of the city along Las Vegas Boulevard. The F1 cars would zip past the most iconic hotels and casinos, such as The Venetian, Bellagio, and Caesars Palace. The length of the street circuit is 3.8 miles, making it the third-longest track on the calendar.
With approximately three months left until the Las Vegas GP weekend, however, you can feel the F1 fever has set in already. Walk into one of the most expensive hotels on the strip, like Wynn, and you’ll spot F1 cars on display. The hotel has partnered with Formula 1 to offer guests a “once in a lifetime” $1 million package providing luxury and an all-access Las Vegas GP experience.
While Wynn displays a Wynn car and three other F1 cars from the Petersen Auto Museum, a Formula 1 car was also spotted in North Premium Outlets in the Formula 1 store pop-up called Racing Miami. Also, one can spot another one outside of Hell’s Kitchen near Caesars Palace.
Marketing efforts to promote one of the world’s biggest races have been top-notch. There is a lot more planned once the ongoing road work around the city for the Las Vegas GP concludes.
The thrilling course promises an exhilarating experience for both viewers and drivers. The circuit sprawls over a distance of 6.12 kilometers, winding through the city streets, and features a challenging 14-turn path. The course will be wonderfully framed by iconic structures like the Venetian, the Bellagio, and Caesars Palace.
Organized by Formula 1 and Liberty Media, owner of Formula 1, with the help of the main casino organizations and the city authorities, the Las Vegas GP is bound to be one of the biggest sporting events in the world.
The majority of the expenses incurred by Liberty Media were for the purchase of a site meant solely for the construction of a permanent paddock and pit infrastructure, which is being built at ‘lightning speed.’ Apart from that, Liberty is also focused on resurfacing the roads that become a part of the Grand Prix circuit, which again, involves a lot of money. In addition, a large-scale event such as this demands a lot of security coverage. And that takes away a pretty big chunk of money.
Liberty chief financial officer Brian Wilding said the paddock building is now 85% complete. The total expense related to the Vegas race, including both the paddock building structure and track-related expenses, was close to $400 million, of which approximately $155 million was incurred in the first half of the year.
However, other unprecedented expenses have cropped up lately. The cables laid beneath the asphalt were posing a problem, so they had to be dealt with apart from the removal of overhead wires and requests from the stakeholders to enhance security.
Liberty Media is also looking at other ways to utilize the pit and paddock facilities after the Las Vegas GP. Using them as an additional source of income is a great idea to make the most of the existing infrastructure. They are just beginning to really scratch the surface of what is available for us on a go-forward basis with the building.
They have had a number of inbound requests. Think about Super Bowl parties. Think about something related to racing, maybe karting or high-end supercars. Las Vegas is the convention center of the world, and there is a lot of interest in the state-of-the-art LEED-certified building.
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