F1 Flexes $1.3 Billion Over NFL Super Bowl as Las Vegas GP Steals American Spotlight

It’s been a while since a prospective race got so much hype and attention, before Las Vegas. 2023 will finally see F1 return to the city of Vegas, as fans have their keen eye on the spectacle in the happening city. With Formula 1 hosting the race itself, a huge marketing push is evident for the Las Vegas GP. The F1 management feels confident that the race in Vegas can steal the American spotlight from big sporting events like the Super Bowl.

According to Las Vegas Review-Journal, the Las Vegas GP will have an approximate economical impact of almost $1.3 billion. Applied Analysis generated this economic impact report, which analyzed and concluded with this figure. This figure is not F1’s projected revenue numbers from the race weekend. It is the amount of business it may generate in Vegas connected to the Grand Prix in November 2023.

It consists of $966 million of projected spending from F1 race weekend visitors. F1 expects about 100,000 attendees daily on each day of the race weekend from Thursday to Saturday night. Besides this, about $316 million may come via event operations and support costs.

Relatively, the economic impact of the NFL Super Bowl may be around $600 million. This was another study from Applied Analysis for the 2024 Super Bowl, happening in the Allegiant Stadium in Las Vegas.

F1 surely is flexing this double impact compared to the Super Bowl, as the F1 boss has also spoken about the same. Stefano Domenicali said, “Super Bowl will be for one year [in Las Vegas], but we’re going to stay for a long time.” 

Read More: $500 Million Reason Why F1 Gambles With Risky Business On Las Vegas GP

The audience for the 2023 Las Vegas GP is mostly domestic from the US. Though, for the 2024 race, more international audiences from Europe and Asia may also visit, as the Grand Prix CEO Renee Wilm said.

Will the Las Vegas GP Appeal to the Fans as much as F1 is marketing it?

There have been mixed opinions about the F1 race in Las Vegas. Many fans think that everything from the street track layout to the grand investment and huge marketing push may go in vain. It has been almost 3 decades since F1 last raced in Vegas.

On the track layout and racing aspect, the ghosts of the Caesars Palace GP are probably still there. The 1981 and ’82 F1 races in Vegas did not go well. While the track layout was in the car parking lot of the famous Caesars Palace hotel; the racing was awful too.

Even the circuit layout for the 2023 race does not seem to impress many people. The famed Las Vegas Strip is also a part of the track. Still, many think the racing may not be great around the streets of the glittering city. Besides this core racing aspect, the cost of visiting the race is also a huge complaint amongst fans.

Recently, the accommodation and food costs for a night stay in Las Vegas during the race weekend in November raised many eyebrows on social media. Many fans reacted sarcastically to the hugely expensive nature of the Las Vegas GP.

Formula 1 also has invested a lot in the infrastructure of the Grand Prix weekend. So, they would also expect it to become a success, both sportingly and financially. Thus, there will be a level of anxiety and fear for the showpiece event in Vegas not doing well enough.

WATCH THIS STORY: Rich History of F1 races in Las Vegas Throughout the Years

With the 2023 season yet to start, there is time for making the Las Vegas GP experience as good as possible. If the racing is great, it may also get the fans’ approval. Still, F1 will keep its fingers crossed until the weekend of November 16-18 arrives. What do you think of the Grand Prix in Vegas?