Source:
REUTERS/Hamad I Mohammed
[Saba
Sports News] Recent reports from the media indicate that the revenue generated
by the F1 Las Vegas Grand Prix, which debuted at the end of last year, has far
surpassed initial expectations. The Grand Prix event achieved an economic
income of a staggering $884 million, including $77 million in state and local
taxes, marking the highest ever for a single event in Las Vegas. The race
required over 17,000 hours of preparation and took nine months to construct the
track, which involved repaving streets, building retaining walls, installing
lighting, and ensuring track safety facilities. Despite the record-breaking
revenue, there has been some public dissatisfaction surrounding the event. Due
to the race, bus routes were rerouted, impacting up to 25,000 passengers daily
and causing delays of up to 60 minutes. Local business owners have voiced their
complaints, stating that the construction and detours have resulted in millions
of dollars in lost revenue and they are seeking compensation. It is evident
that the preparations for the race were insufficient. The 2023 F1 United States
Las Vegas Grand Prix, held from November 16 to 18, 2023, concluded with Red
Bull Racing driver Max Verstappen emerging as the winner.