Vegas cashes in as inaugural F1 race delivers financial jackpot

The bright lights of Las Vegas have long signaled big wins and larger-than-life excess.

Last Saturday’s debut Formula 1 race kept that tradition alive, as the event’s financial windfall spread across the city’s tourism industry.

Still basking in the afterglow of a raucous race weekend, casino bosses are already counting their chips.

One openly described the 3-day event as akin to New Year’s Eve celebrations, a temporary boom promising immense profit, according to a recent report by The Athletic.

Their confidence is well founded. With over 100,000 tickets sold at premium rates reaching up to $5,000, every single day was a complete sell-out.

When the checkered flag flew, fans gleefully parted with their cash to continue the party.

This once-skeptical city has quickly warmed to its newest, glitziest spectacle. The Las Vegas Convention and Visitor’s Authority who lobbied for years to attract such a race can chalk up the weekend as a victory.

Of course, with Formula 1 themselves fronting a $500 million bill including $240 million for dedicated facilities, it was a costly gamble.

But with a local economic impact already estimated at double next year’s Super Bowl, the race’s finances seem safely back in the black.

For a city built to profit from pleasure, this past weekend delivered its hottest ticket in decades.

The party continues as the Strip counts its winnings from its successful wager on Formula 1.