The 2023 F1 Las Vegas Grand Prix is set to be one of the most glamorous events of the year. Now experts have analysed and indicated that the weekend will generate around $1.3 billion. This is much more than they have earned in any other race weekend.
There is no shortage of entertainment during the weekend of the Las Vegas Grand Prix. Unlike the other races, the Las Vegas GP is scheduled for Saturday night. This makes it convenient for the viewers in the UK to tune in.
So far, there have been a number of events planned prior to the race. A grand opening ceremony is expected where Cirque de Solee and the Blue Man Group will be participating. All the drivers are also expected to be present during this opening ceremony. While fans seem to think that the ceremony will be cringe, we are yet to see the results.
The Pit Building is READY! 🔥#LasVegasGP #F1 pic.twitter.com/sqEAzEgF8O
— F1 Las Vegas (@F1LasVegas) November 10, 2023
This year, during the Miami Grand Prix, we saw driver announcements before the race for the first time. The same is expected to happen before the Las Vegas Grand Prix as well. Given that there is so much entertainment planned for the weekend, experts have analyzed and predicted that the weekend will generate $1.3 billion.
The $1.3 billion includes tickets, fans spending on merchandise, and more. If this turns out to be true, Formula 1 and the teams will be looking to host more and more races in Vegas. The sport is always on a neverending mission to increase revenue and profits. Although the revenue generated could be high, the costs involved could also be high. We will have to wait and see how much F1 profits from the event. If the profits from the event are high, it will increase the prize money for the teams as well.
How much did F1 earn from the inaugural Miami GP?
During the inaugural Miami Grand Prix in 2022, the revenue generated is estimated to be around $350 million. This number seems significantly much smaller than what the Las Vegas Grand Prix is expected to generate.
However, due to the grandeur of the event, the operating costs for the Las Vegas Grand Prix will be much higher than the Miami Grand Prix. So it will all depend on the profits earned from the weekend.
With only a week to go for the inaugural Las Vegas Grand Prix, there are still tickets to sell. In an attempt to sell out these tickets, the organizers have dropped the prices hoping that more fans will come in for the Grand Prix.
Next stop… LAS VEGAS!!! 🤩#F1 #LasVegasGP pic.twitter.com/WWKK0MJaJK
— Formula 1 (@F1) November 5, 2023
Although no rain is expected during the weekend, it is expected to be very cold during the race. Temperatures are expected to drop all the way down to 4 degrees Celsius. This will make it the coldest Grand Prix in F1 history.
Since the weather is expected to be cold, we could see a number of drivers struggling to grip the car. So we could have a very interesting opening lap of the race on Saturday.