Stefano Domenicali has said that the Las Vegas F1 race will bring more impact to the US city than the NFL Super Bowl finale next year.
The Las Vegas Grand Prix is projected to have an economic impact of over $1 billion in the first year – which is double what the Super Bowl will bring – with visitor spending estimated at $966 million and local jobs set to generate $259 million.
Extravagant packages for the race have already been announced by the hospitality industry, with some ranging between $1 million and $5 million.
The Chief Executive Officer spoke about the first race to be held in the city since the Caesars Palace Grand Prix was held twice in 1981 and 1982.
“[The] Super Bowl will be for one year, but we’re going to stay for a long time,” he said at the economic event Preview Las Vegas.
“We are going to have a continuous flag here in the city, and we are going to mark not only for the week of the event, but we are going to mark F1 in Vegas as a place where we will develop the sport.”
Domenicali: A lot of things will be ready last minute
With the race scheduled for the 18th of November, many of the workers will start operations in April to prepare the city for the race weekend.
Domenicali warned that some things will be ready in the latter stages of the race build-up, but is confident that the operation will be conducted professionally.
“There will be a lot of things that will be ready at the last minute,” he said. “That’s part of the game. But there is an incredible professionalism here that we found in the community working with us.”
F1 will attempt to build the track in sections to minimize the disruption to the local casinos and businesses, according to Las Vegas GP CEO Renee Wilm.
“Construction of the paddock building is in full swing. The timelines on construction and setup will vary in each zone depending on installation, but we’re really going to start the build in earnest as early as June,” said Wilm on local TV station KTNV.
“We do have plans for vehicular bridges, pedestrian walkways, business access points, and we are working very closely with the metro and fire [services] to ensure that we’re mitigating traffic and working with our local partners to try to mitigate any inconvenience.
“We know it’s going to be a difficult, challenging traffic weekend, but we think that the value we’re bringing to the city and the experience we are creating will far outweigh the inconvenience factor.”