Formula 1 is back for Round Two of the race that shuts down the Las Vegas Strip. And for event organizers, it is an international spotlight they say will benefit the city for years to come.

"It put Las Vegas on a world stage in a way it never experienced before. LVCVA even said that race week publicity alone that was generated last year for Las Vegas was six times the amount Las Vegas typically receives in a given year."

That’s Lori Nelson-Kraft, Senior Vice President of Corporate Affairs for Las Vegas Grand Prix,  speaking to Nevada Week about the various ways F1’s 2023 event impacted the city. Those races generated $77 million dollars throughout the state, $22 million which went to schools. 

‘We understand that it is the single largest event that has been hosted in Las Vegas, it even surpassed the Super Bowl and its taxes that it generated to the state. So that is kind of a snapshot of the taxes alone coming back into our community.” 

Nelson-Kraft addressed some concerns people had during last year’s race. She noted this year, much of the setup and construction work was completed overnight, so commuters weren’t as affected. 

And speaking of commutes, there will be a Park and Ride service for hospitality workers starting Wednesday November 20 so they can more easily get to work during the road closures. 

One of the big construction adjustments: reducing the bridge at Flamingo and Koval by 50 percent. This will allow customers easier access to the businesses in this area. Some of those businesses say they lost millions of dollars last year because customers weren’t able to get to them easily with the bridge blocking access.  There are currently lawsuits between some of those businesses and Formula 1. 

While Nelson-Kraft could not comment on the specific lawsuits, she says continuing conversations with those businesses and stakeholders are vital. 

"We listened to all of those businesses in and around the circuit. We took feedback from the community, and we adjusted our plans as we worked with Clark County … Now that the circuit is pretty much fully installed, you saw a 65 percent reduction in what that impact has been, making it a lot easier for the commuters."

Another area of accessibility important to F1: local community access to the sport. Nelson-Kraft discussed affordable ticket options to this year’s events. There’s also The Ultimate F1 Fan Experience. And it’s not just for seasoned fans. The Fan Experience aims to introduce people to the sport. 

Nelson-Kraft says Nevadans were more than receptive. “We put 70,000 free tickets out in the universe," she said, "and half of them were taken by locals so we’re thrilled over that.”

She continued, "We live here, we’re proud to be part of Las Vegas, and we want to do right by the community."

The Formula 1 Heineken Silver Las Vegas Grand Prix is November 21-23.