The Future. Sin City is deep in construction on turning the Strip into the raceway for the inaugural Formula One Las Vegas Grand Prix. The event is meant to solidify Vegas as the American home for F1… which may inadvertently make the city a fashion and entertainment capital.
Roll the track
Liberty Media’s $560 million remodel of the Vegas Strip into the fanciest F1 track in the US is hitting fifth gear.
- The hyped race, scheduled for November 16th to 18th, will take place on a 3.8-mile loop that runs through the famed resort corridor, affecting 23,000 rooms.
- The revamp includes removing medians and shaving five to ten inches of the road so it can be replaced with a dense, super smooth racing layer (which should last six years).
- To help with pedestrian foot traffic, temporary bridges have been constructed to help crisscross over the construction.
- The centerpiece of the race is the in-construction Paddock Building — extending the length of three football fields, it will act as the racer garages, a VIP club, and a main grandstand.
While all the work has led to complaints of gridlock in a town known for quick commutes, the whole hospitality industry is on board — opening up high-priced suites and luxury clubs along the track, along with numerous A-list entertainment events for the anticipated 105,000 daily attendees.
According to financial consultancy Applied Analysis, November’s event could inject $1.2 billion into the local economy… and that’s just for the first year in a ten-year deal.