The first Formula 1 race in Toto Wolff in Las Vegas it was “chaos”. “It was learning, in practice,” said Wolff, CEO of Mercedes AMG Petronasduring an interview before the second Formula 1 Grand Prix in Las Vegasin the United States. He spoke about the construction, logistics and general organization of the inaugural event that brought about US$1.5 billion to the local economy last year – 50% more than the Super Bowl. “I don’t think Vegas really knew what to expect.”
“It’s better this year,” he said, and that was before his team achieved a double, with victory and second place in the race. “What makes this special is Vegas, it’s exciting that we’re racing on the Strip, not in a parking lot, but right in the middle of the city, and the city embraces that.”
Despite reduced ticket prices and sluggish demand at the start of the year, the 2024 Las Vegas Grand Prix has retained its signature Sin City luster as organizers strive to make it the premier F1 destination in North America. Common average price of US$1,617 per ticketremains the most expensive F1 event on the racing calendar, costing almost twice as much as the Miami Grand Prix, according to data compiled by F1 Destinations.
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The event had an audience total of 306 thousand fans during the last weekenda slight drop from last year’s 315,000, but with a sold out Saturday night race, where George Russellfrom Mercedes, took victory and Max Verstappenfrom Red Bull, who came fifth, gained enough points to secure his fourth F1 drivers’ championship.
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The US has a critical fan base, he continued, and indeed organizers are doubling its $500 million investment to expand F1 there. On Monday, Formula 1 confirmed that it had reached an agreement with General Motors to add a . Wolff noted that Las Vegas in particular offers F1 unparalleled marketing and partnership opportunities.
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“We’re not having the numbers here that we have in Europe, South America or some Asian countries, but that’s okay, because Formula 1 is 70 years old, and we know that the appeal we’ve generated in the United States is recent,” he said. .
On November 21, the Las Vegas Grand Prix announced that the 15-acre pit complex will be expanded to include an F1-inspired go-kart track, interactive 4D exhibits, a merchandise store and three new spaces for private events – all available year round.
Night running caused complaints
There are still some kinks to be ironed out, even if many of 2023’s pain points, like the crippling congestion around spectator entry points, are gone during this second effort. Team members and themselves Drivers criticized the 10pm start of the racea concession to the sport’s European fan base who can watch live on their Sunday morning. This resulted in long days of press appearances, press conferences and meetings for the already tiring traveling circus that is F1.
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“It’s strange, this Grand Prix, living at night,” Mercedes driver Russell told reporters during a press conference on November 20. Kevin MagnussenDanish driver for Haas Racing, described it as “a difficult job”. AND Esteban Oconfrom Alpine, said the schedule was “challenging.”
Organizers have also faced some complaints from hotel management and casino operators, who prefer a racing schedule that doesn’t interfere with dinner and club reservations, and draws fans back to the poker tables afterward. Arid autumn temperatures, which hover around 4°C at night, also present a difficult task for race teams, who must work hard to keep their tires warm before and during each trip to the track.
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“Yes, the schedules are challenging for the city and for us because everything is so late,” Wolff said. “You can’t close the city early. It is what it is. You just have to work with it.”
Part of the charm of Vegas racing is its almost radical accessibility. You might bump into figures like Stefano Domenicalipresident and CEO of F1, or Christian Hornerhead of Red Bull Racing, among the crowds at the Wynn hotel; Jay Leno (made up and youthful) and Sylvester Stallone mingled with guests at the AmFar gala before an RM Sotheby’s car auction there.
The highly condensed location allows for a mix of exposure for fans of different income levels, whether purchasing a $99 general admission ticket or a $45,000 Paddock Club hotel package. Large stretches of the upside-down pig-shaped racetrack can be seen from most of the Strip-facing hotel towers, which stretch from the Bellagio fountain to the Palazzo hotel.
“The appeal that Formula 1 is generating in the US is because we are offering an authentic entertainment product with a European twist, whilst being very fun and exciting for the American audience,” said Wolff. “Looks like we found the sweet spot.”
