Was Vegas GP good for Las Vegas? | Podcast Ep 865

Formula 1 Podcast
The Parc Fermé F1 Podcast

Delighted to welcome Jeff from the Jeff Does Vegas podcast to the show where Grace and I discuss the impact the F1 grand prix had on the Las Vegas economy. We also discuss what went wrong, what went right and what might be improved for the 2024 race.

A huge ‘Thank You’ to Jeff for joining us to share his insights on all things Las Vegas and the Las Vegas Grand Prix.

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Summary

In this episode, Todd and Grace are joined by Jeff from the Jeff Does Vegas podcast to discuss the Formula One race in Las Vegas. They cover various topics, including the economic impact of the race, the impact on local businesses and shows, and the controversy surrounding refunds. They also address the negative attitudes and criticisms leading up to the race and the drop in room rates as the event approached. The conversation covers various topics related to the Formula One race in Las Vegas, including room rates and ticket prices, what went right during the event, potential improvements for 2024, and a comparison to MotoGP. The conversation discusses the disappointment of the unopened bridge, the lack of visual cues and iconic landmarks, the gray and dark atmosphere, the missed opportunity to showcase Vegas lights, the prominence of sponsorship, favorite places to eat in Vegas, and closing thoughts and appreciation.

Takeaways

The Formula One race had a significant economic impact on Las Vegas, with high hotel revenues and increased tax revenue.
While some local businesses experienced negative effects due to construction and road closures, others in the service industry, such as high-end restaurants and entertainment venues, benefited from the influx of visitors.
There was a mix of negative attitudes and criticisms leading up to the race, with some content creators focusing on the inconveniences and construction issues.
Room rates for the event dropped as the race approached, which is a common practice for events in Las Vegas.
The controversy surrounding refunds for weekend pass holders led to a lawsuit being filed within 24 hours of the race. Room rates in Las Vegas varied, with some properties dropping their rates while others remained high.
The race in Las Vegas was more exciting than expected, with a high number of overtakes and a thrilling last lap battle.
Improvements for future races in Las Vegas could include more general admission areas, a free fan zone, better transportation planning, and reconsidering the start times.
The post-race interviews with the top three drivers in the same car were reminiscent of MotoGP and added an entertaining element to the event. The unopened bridge was a missed opportunity for excitement and spectacle.
The lack of visual cues and iconic landmarks made it difficult to identify the location as Las Vegas.
The gray and dark atmosphere detracted from the overall experience.
The race failed to showcase the vibrant lights and signage that are synonymous with Las Vegas.
Sponsorship placement and visibility play a significant role in attracting attention.
Golden Steer is a recommended steakhouse to try in Las Vegas.

Chapters

00:00 Introduction and Overview
01:02 Introduction of Jeff Does Vegas Podcast
04:00 Discussion on the Economic Impact of the Formula One Race in Vegas
08:35 Debate on the Appropriate Indicators of a Positive Financial Impact
12:34 Impact on Local Businesses and Shows
20:17 Positive Impact on the Service Industry
24:28 Negative Attitudes and Criticisms Leading up to the Race
33:27 The Refund Controversy
35:48 Drop in Room Rates
38:28 Room rates and ticket prices
51:17 What went right
01:02:12 Improvements for 2024
01:10:21 MotoGP comparison
01:11:44 Post-race interviews
01:12:30 The Disappointment of the Unopened Bridge
01:13:18 The Lack of Visual Cues and Iconic Landmarks
01:15:36 The Gray and Dark Atmosphere
01:16:33 The Missed Opportunity to Showcase Vegas Lights
01:17:20 The Prominence of Sponsorship
01:19:01 Favorite Places to Eat in Vegas
01:20:40 Closing Thoughts and Appreciation

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