As expected, November’s Formula One Las Vegas Grand Prix boosted the average daily room rate visitors paid, especially on the Las Vegas Strip.
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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.
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.
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.
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.
Hotel room rates on the Strip are some of the lowest they’ve been for last-minute travelers to the Formula One Las Vegas Grand Prix.
The “egregious” $3,000 landing fees have been trimmed, the Aircraft Owners and Pilots Association said.
McLaren has opened the first-of-its-kind experience center that will let visitors use the same racing simulator as F1 drivers in hopes to grow the brand.
The inaugural Formula One Las Vegas Grand Prix begins Thursday, and racing fans who say tickets to the race were too expensive have already descended on the Strip.