Las Vegas tourism group estimates F1 to generate $250M compared to year 1

LAS VEGAS, Nev. (FOX5)—The Las Vegas Convention and Visitors Authority has certified the economic impact of the second annual F1 Grand Prix in Sin City.

According to the LVCVA, they estimate the event to generate $250 million or more.

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The tourism organization confirmed last year’s event made an economic impact of approximately $1.5 billion.

“Nevada law requires organizers of special events that wish to place advertising on public roads to receive approval from the county or other public authority,” said the Las Vegas Convention and Visitors Authority

To qualify, the event must expect an economic impact of at least $250 million. The LVCVA says the board-certified F1 to exceed the threshold required.