Las Vegas set for billion dollar F1 boost

Nevada governor Steve Sisolak anticipates the Las Vegas Grand Prix will generate "over a billion dollars" with a bumper 170,000 crowd.

After years of trying, F1 has a solid position in the US market with three races set to be contested stateside in 2023 as Las Vegas joins Miami and Austin.

The recently announced deal secured the iconic city's position on the F1 calendar for an initial three-year period and Sisolak was quick to point out the economic impact of the inaugural running.

"I am laser-focused, as is my job as governor, on our economy and we know the economic impact that Formula 1 is going to have on this community is enormous," explained Sisolak.

"We are anticipating 170,000 visitors to town to watch this race. They will accommodate 400,000 room nights which is absolutely amazing.

"The direct economic impact is approaching half a billion dollars and the indirect impact will be over a billion dollars by the time we're done.

"We could not be more proud of this. Nobody puts on a party like Las Vegas."

Las Vegas will take the total number of street tracks on the F1 calendar to eight, with races in Azerbaijan, Monaco, Canada, Saudi Arabia, Singapore, Miami and Australia all taking place on public roads.

"I am grateful and I can't thank [Liberty Media CEO] Greg [Maffei] and [F1 CEO] Stefano [Domenicali] enough for their partnership on this," added Sisolak.

"We have been talking for a long time and they have made several flights over from Europe to get over here to talk about it and I am thankful for that.

"I am grateful for what Formula 1, the Las Vegas Grand Prix will mean for our businesses and our residents and we wish you nothing but the best."

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