LAS VEGAS – After weeks of controversy, angry local feedback and even criticism from reigning world champion Max Vertstappen himself, the inaugural Las Vegas Grand Prix produced the best race of the 2023 season. Additionally, it was the most financially lucrative weekend in Sin City's long and storied history, even eclipsing February's Super Bowl LVIII at Allegiant Stadium.
It wasn't to everyone's taste. Ahead of last year's event, which included a very over-the-top driver presentation, Verstappen joked that the race was “99% show and 1% sporting event”, adding that the ceremony made him feel like “a clown”.
As if to prove that victory makes everything better, the Dutchman capped his victory in the opening race later that weekend by singing “Viva Las Vegas” on the radio. When asked how he felt about the second-year race during Wednesday's media session, Verstappen initially responded with a typically candid answer.
“I see,” he said with a wry smile. Getting to the heart of what he meant, he added: “I understand. I understand why we are here, both business-wise and racing-wise. For me, the opening ceremony… if you ask me if I want to do it or not, I will always choose not to do it, but that is not the reason why something is more positive or not. But I'm happy to be here, I'm happy to be in Vegas, it's a great city.
“Is this my favorite route on the calendar? No, but everyone has their favorite routes. But I'm happy to be here. Last year the race was very exciting, there was a lot of racing, a lot of straights, it's good for overtaking, the shots are fantastic, you know, driving on the strip. So I hope you don't write too negatively about what I think about Vegas because last year's race was great.
Editor's Tips
2 relatives
High praise that should sound like music to the ears of the race organizers, Formula 1 itself. The event is unique in the sport's program as it is the only one where Formula 1 also acts as organizer and has invested in the construction of the permanent paddock facility in the middle of the city. Verstappen will also be relieved that there will be no driver presentation this time.
His comments and the other negative headlines the race generated – which culminated when Carlos Sainz's Ferrari was destroyed by a loose drain cover, with the subsequent delay in repairing the others on the circuit, disrupting any training for the remainder of the race was destroyed on the first day – was ultimately a small blip for the entire event and the income it brought in.
The breathtaking numbers were historic.
A Clark County report released in April estimated the economic benefits of the first race at $1.5 billion while generating $77 million in tax revenue. To give some context to these staggering numbers, Super Bowl LVIII had a total economic impact of $1 billion, with $33.6 million in taxes.
Twelve months ago, Formula 1 did not dare to predict that America's biggest sporting event would be a draw. It was a massive vindication for a project that cost the series an estimated $400 million. What's most impressive to those in Las Vegas is that the first race managed to do something previously thought impossible: generate big money the weekend before Thanksgiving, traditionally the lowest-grossing weekend on the calendar.
Formula 1 and Las Vegas have cautiously played down the chances of matching or exceeding those numbers this year and also dismissed reports of lower ticket sales this time around – the city is notoriously a late market when it comes to booking holidays and take part in events.
Max Verstappen returns to Las Vegas in 2024 with a chance to win his fourth consecutive F1 championship. Bob Kupbens/Icon Sportswire via Getty Images
Asked if there had been a late surge in tickets to the race this year, Las Vegas GP CEO Renee Wilm said on Wednesday: “Yes, we are seeing exactly what we expected. We have a number of zones that are already sold out. Our general admission is sold out, the grandstand is probably sold out, but we are very excited about the conversion rates we saw last week.
“Once we get through Austin and the election, that’s it [ticket] Traffic increased and so did conversion. This is a last minute market and we didn't go into sales as early as we did the first year. The first year we had our big launch event, which was essentially six months earlier than we went on sale the second year.”
As for how success will be measured this time, she said: “We obviously have a lot of goals, but there are.” [Las Vegas Grand Prix] Goals, and then there are Formula 1 goals. I think from a Formula 1 perspective, the sport in the US obviously continues to grow and educate. We still believe it is our most important strategic growth market.”
However, it wasn't just problems on the racetrack that made negative headlines. The long preparation period for the first race, which included extensive construction of barriers along the circuit and the construction of scaffolding near famous landmarks such as the Bellagio fountain, angered locals who struggled with disruption. But since the first event had to do everything from scratch, this year it felt like a much easier climb.
“We worked much more constructively with the community and just did a better job of communicating, especially with regards to road closures,” Wilm said. “We also didn’t have to build nearly as much as we did in the first year. The first year we had to repave 3.8 miles. This year we have [only] I put up some string lights, touched up a few areas and put up some safety barriers.”
LISTEN TO “UNLAPPED.”
Katie George, Nate Saunders and Laurence Edmondson talk more about Formula 1 and the personalities behind it in Unlapped, ESPN's weekly F1 podcast. Listen to “Unlapped.”
But locals weren't just upset about the traffic disruption. While the money generated last year was impressive, some critics say the impact was felt by a small minority rather than the entire community. Wilm countered that proposal by saying $22 million of taxes generated last year were redirected back into the local school system.
“We have seen such a change in mood locally,” Wilm added. “I think when you really look at the numbers and then remove the negativity, locals realize we are creative. We are here to stay. We are here to be part of the community and… “give back both economically and in other qualitative ways.”
Creating an event centered around a happy community has become the driving force behind all future plans for the race.
“It has to work for everyone,” said Steve Hill, CEO and president of the Las Vegas Convention and Visitors Authority. “It has to work for the companies, the race sponsors, the resort community and it has to work for the community itself. This year I think we are much closer to that balance than last year. It was a fantastic achievement last year and it was an incredible achievement to have achieved that.”
And what about the final product? Most Formula 1 drivers are expecting another great race as November's colder temperatures present a rare challenge for teams with their tires.
Another bonus, ironically centered around Verstappen, is also temptingly obvious. The Dutchman could secure the title in the race if he finishes ahead of Lando Norris or avoids losing more than three points to him. The race has run through several scenarios in case it should happen on this occasion. It remains to be seen whether Verstappen will triumph over another version of Elvis Presley on Saturday evening.
Comments are closed.