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As expected, November’s Formula One Las Vegas Grand Prix boosted the average daily room rate visitors paid, especially on the Las Vegas Strip.
Secondary ticket marketplace StubHub ranks the top 5 events to take place in Vegas in 2023
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.
Just hours after the Nov. 18 Grand Prix concluded, MGM said it would move swiftly to get the area in front of its properties back to normal before Christmas.
The inaugural Formula One Las Vegas Grand Prix was successful for some of the big resorts and a good time for fans, which is why it will continue to run here.
Las Vegas Grand Prix 2024 hotel room rate schedules are available and their asking prices are much lower than what was originally advertised for the 2023 event.
The Formula One race was expected to generate $1.2 billion in economic impact. But some small businesses near the Strip say they didn’t see much of a benefit.
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.