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Construction Ramps Up Ahead of Vegas F1

Las Vegas Grand Prix 2023

Several major entertainment projects are set to conclude in Las Vegas this Fall in the lead up to November's highly anticipated Formula 1 Las Vegas Grand Prix. According to the event website, the race, with a price tag of approximately $560 million, will feature a 3.8-mile track winding through the city's casinos and hotels, with drivers reaching speeds of up to 212 mph. The main hub for race activities will be a 300,000-square-foot, four-level paddock building currently under construction a few blocks east of the Strip.

Terry Miller, the project manager for the Las Vegas Grand Prix, tells the Hollywood Reporter, "This construction and design effort is one of the most ambitious I've witnessed, not only in Las Vegas but also in the realm of sports."

In total, the Las Vegas area will see the completion of over $8 billion worth of projects this year, adding nearly 4,700 hotel rooms and 572,000 square feet of convention space to both the Strip and downtown area, according to the latest construction bulletin from the Las Vegas Convention and Visitors Authority.

One block away from the Strip, near the Venetian Resort, the $2.3 billion MSG Sphere will open its doors to concertgoers on September 29th, launching Irish rock band U2's residency. This colossal spherical structure, the world's largest of its kind, spans 516 feet in width and stands 366 feet tall, accommodating 17,600 spectators with standing room for an additional 20,000 people. The exosphere, boasts a 580,000-square-foot fully programmable LED exterior that has been illuminating the city since July. A preview of its interior, featuring what organizers claim to be "the largest screen on the planet," was recently shared on social media.

After the race concludes, even more hospitality projects are in the pipeline. In November, the $780 million Durango Casino & Resort will open in the southwest Las Vegas Valley, while the Fontainebleau Las Vegas hotel is set to open on December 13th following a $3.9 billion redevelopment that spanned nearly two decades, as reported by the Las Vegas Review-Journal. Situated on the northern end of the Strip and inspired by a Miami, Florida aesthetic, the property will offer 3,644 rooms, 36 restaurants, 150,000 square feet of gaming space, and 6 acres of pool areas.

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