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By Alan Snel, LVSportsBiz.com Publisher-Writer
LAS VEGAS, Nevada — On the eve of the three-day Formula 1 car race event in Las Vegas, I used a bicycle to survey the 3.8-mile race course that follows Las Vegas Boulevard and a few other streets in what we call the Strip corridor.
The funny thing about being on the race track is that it doesn’t feel like the Strip. For example, a temporary structure of suites and club-style open spaces in front of the Bellagio hotel-casino blocks the view of the hotel’s famed fountains and mostly what you see are concrete barriers, fencing and light mounts.
It’s unclear what the net economic gain is from this sports event that requires a 17-week race course installment and break down for a race that lasts two hours.
Most cities would not approve or tolerate the race track disruptions to the heart of their economic district.
But Las Vegas is an outlier.
The Las Vegas economy is a one-trick pony economy based on tourism where a handful of corporate hotel companies decide public policy. MGM Resorts International, Caesars Entertainment, Wynn Las Vegas, Venetian and The Sphere wanted the race — so the Clark County commissioners said, sure.
The F1 event draws big spenders, while also keeping away Strip visitors who have no interest in the street race. Las Vegas Grand Prix organizers estimate 100,000 people a day will attend the race.