Grand Prix Impacts: Will Formula One Spending Benefits Be Worth Pre-Race Road Headaches, Public Investments In Las Vegas?

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By Alan Snel, LVSportsBiz.com Publisher-Writer

Koval Lane, the Strip’s busy parallel road to the east, is usually crammed with cars and snarled with traffic most days and at most times.

But not Monday when a segment of Koval Lane just north of Harmon Avenue was closed.

That’s because the F1 road race is calling the shots along the Strip entertainment corridor as the Las Vegas Grand Prix promoters continue work on repaving the 3.8-mile circuit for the much-hyped race event set for the night of Nov. 18.

Here’s that closed section of Koval. Walkers and bicyclists were free Monday to saunter along the closed road that will be part of the race course where small, driver-operated missiles on four wheels will be zooming along the Strip corridor.

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Above is a look at the viewing sections under construction near the F1 paddock, the race organizer’s nerve center near the start/finish line.

There were lots of viewing areas under construction as LVSportsBiz.com today took a bicycle ride to explore the road closures near the Harmon/Koval intersection and sidewalk closings in front of the Bellagio hotel-casino on Las Vegas Boulevard.

A lane was closed on the southbound side of the Strip in front of the Bellagio as workers were building the grandstands for the F1 event, which is set for Nov. 16-18.

Clark County and Las Vegas have hosted big sports events before. And big venues like the Las Vegas Raiders’ Allegiant Stadium opened in 2020, while T-Mobile Arena made its debut in 2016.

But this F1 grand prix race is different because F1 owner Colorado-based Liberty Media is creating an event for Las Vegas that is using nearly four miles of public roads — streets that the grand prix is repaving for its race while also asking Clark County to fork over $40 million to help underwrite the cost of paving the 3.8-mile route.

The race and county have even come out with a website devote to the road work traffic issues. There’s also a text alert about the road construction.

For good or bad, F1 will be here in Clark County for ten years under an approved deal by county commissioners.

You have to hand it to the F1 promoters for never stopping to peddle tickets. The route map showing the daily road closures and updates includes a “buy tickets” tab. They’re taking your time in delays on the roads and would also like to take a healthy chunk of your money to watch the race on Nov. 18.

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F1 and Las Vegas Grand Prix organizers — along with the publicly-funded Las Vegas tourism agency, the LVCVA — have declared the race will generate $1.3 billion in local spending.

In turn, the economic number generated by Las Vegas sports consultant Applied Analysis has been used by elected officials and business leaders to justify the headaches, stress and inconveniences caused by repaving and closed roads in the market’s most congested business area.

Las Vegas’ hotels have rolled out million-dollar ticket deals, hoping to cash in on the feeding frenzy of hype over the race.

But most locals will not attend because the ticket costs run in the thousands of dollars, with the Las Vegas Convention and Visitors Authority explaining that its multi-million-dollar commitment to the Formula One race will be a good investment to lure big-spending international visitors.

LVSportsBiz.com dropped by Ellis Island casino-hotel-brewery at 4250 Koval Lane and chatted with a pizza maker at Metro Pizza inside the facility. He said he didn’t expect much business the day of the race, noting access will be difficult.

“They make a billion across the street,” he said of the F1 face organizer, “and we make ten dollars.”

He then rubbed his thumb and forefinger, noting, “It’s all about the money.”

At Las Vegas Souvenirs and Gifts at 4130 Koval Lane, there were racks of clothing selling for only ten bucks.

But store owner Jimmy Singh told LVSportsBiz.com he has not been told whether he will be able to keep his store open on race day.

“I’m happy for the race, but nobody has told us (about whether we can stay open along the route.) I’d like to keep it open,” Singh said.

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Las Vegas loves spectacles.

The F1 race cars zipping down the Strip and around the Sphere and Venetian while attracting the rich and glamorous will make for fine video and future LVCVA ads.

But at what cost?

Clark County has already given permission to F1 promoters to close roads and rebuild street surfaces while approving a 10-year sports event that is nowhere in the price range that the vast majority of locals can afford.

It’s a tourist event in the very core of the Las Vegas visitor market.

For good or bad, a police officer standing guard on a closed Koval Lane said simply, “Well, we have it for ten years.”

 

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