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.
Formula One operators say the two-day sale at The Venetian is “a token of appreciation” for what local residents showed through last week’s four-day event.
As the Strip got back to its usual bumper-to-bumper traffic, resort executives said Formula One’s Las Vegas Grand Prix went better than they had hoped.
The closure and reopening of several streets in the resort corridor was a test Wednesday morning. County officials say they’ll do better getting streets open on race days.
“It makes a bunch of sense,” LVCVA president and CEO Steve Hill said. “If you go out there now, traffic is better than it was before we built all this and that bridge is a big part of that.”
After over 500 days of preparation, Formula One fans from around the world are ready to gather for the Las Vegas Grand Prix, the biggest event in the city’s history.
When thousands of race fans converge on Las Vegas later this month, it presents a huge economic opportunity. But some local residents still hate the idea.