F1 hits US jackpot with 'Herculean' Vegas gamble

The inaugural Las Vegas Grand Prix was not without controversy but it was a cracking win for F1 in the US, according to a track chief.

Tyler Epp, President of the Miami Grand Prix, was blown away by the Vegas event, which proved to be one of the top races of 2023 after an inauspicious start to the week when a drain loose drain cover damaged Carlos Sainz's Ferrari and subsequent safety concerns caused practice to be abandoned.

The subsequent race proved thrilling though, and the decision to host a race in the iconic desert city and world gambling capital - despite many people having doubts - paid off in spades... clubs, hearts and diamonds.

Epp believes that, after delivering on its promise so fruitfully, the success of the Vegas GP can only have a positive effect for future US races.

Epp: Great racing only helps to cultivate US F1 fans

"We talk about this a lot. To group all American F1 fans into one bucket is always dangerous, but we all like competition, and we all like drama," explained Epp.

"Gosh, the race in Vegas had both! Our race last May had a good bit of it as well. So, I think anytime we can get great racing on our soil only helps to cultivate that US F1 fan.

"I can’t say enough about the effort of Renee [Wilm, Las Vegas GP CEO] and her team. That was a Herculean achievement.

"I think the promoter community is defensive for each other, we know what it’s like when mistakes get made and stories get told, so the job they did was outstanding.

Epp, speaking to Autosport, added: "For us, as an America promoter, we believe in the rising tide of all ships, and we wanted that to be successful.

"I think Renee and the team did everything they could to invest in the sport was absolutely on display by the time Saturday night rolled around."

READ MORE: F1 found a home in Vegas but this CANNOT be allowed to happen again - GPFans hot takes

How much money did Las Vegas make from the event

The Las Vegas trip and the surrounding businesses also profited massively as over 3000,000 fans flocked there for the race, and the event is estimated to have netted a colossal $1.2 billion.

The Las Vegas Convention and Visitors Authority also revealed that Formula 1's impact made November 2023, when the race was hosted, the most successful November in the city's history - and that an extra $100 million is tax revenue was made by the city.

Other businesses around Las Vegas also made huge profits thanks to F1 coming to town with the Nevada’s Gaming Control Board reporting increased revenue of $821 million and MGM Resorts International, the overarching company for the famous hotel chain said rooms sold for 33 per cent more as they achieved the highest-grossing weekend in the chain's history.

READ MORE: F1 Schedule 2024: Full calendar with all you need to know about every grand prix

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