At the Vegas Chamber’s Preview Las Vegas event, economist Jeremy Aguero gave a breakdown on how much tourists spent during Las Vegas Grand Prix week.
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Small businesses affected by Formula One traffic issues got a small victory with a bridge removal but may not see compensation for their financial losses.
The LVCVA board was asked to take down the temporary bridge on Flamingo Road and compensate small businesses hurt by Las Vegas Grand Prix road disruptions.
As expected, November’s Formula One Las Vegas Grand Prix boosted the average daily room rate visitors paid, especially on the Las Vegas Strip.
Revenue records were shattered during November’s Formula One race. The live entertainment tax collection was between $30 million and $35 million, the LVCVA said.
Wynn Resorts Ltd. expects to generate the most revenue for a three-day period in its history next week when the Formula One Las Vegas Grand Prix rolls into town.
Tickets will go on sale Wednesday for grandstand seating at The Mirage for November’s Formula One Las Vegas Grand Prix.