P1racenews AI automatic summary:
Formula 1 hopes that taking its Las Vegas GP through the heart of the city’s ‘strip’ will help supercharge its growth, particularly in the US. To do that, though, it’s had to rip up its business model and invest heavily – perhaps to the tune of $500million
The new Las Vegas Grand Prix is a huge investment for Formula 1, as it aims to boost its growth in the US by hosting a race in the iconic city. The race will take place on the famous Las Vegas Boulevard, known as The Strip, and is expected to attract global attention. F1 is promoting the race itself, deviating from the usual model of independent promoters. The event is predicted to have a significant economic benefit for Las Vegas, with an estimated $1.3 billion. However, the high costs, partly due to economic conditions and additional security measures, have raised concerns. F1 has already spent $280 million on infrastructure, and the total cost of the event is projected to reach $0.5 billion. While the previous attempts to host races in Las Vegas did not succeed, the new race’s location and setup aim to avoid past mistakes and create a successful and impactful event.
Forrás: The Race
