PST, meaning viewers on the East Coast will need to stay up until 1 a.m. Saturday’s main race is slated to start at 10 p.m. Altogether, Hill estimated the cost might be closer to $650 million.
Las Vegas Convention and Visitors Authority CEO Steve Hill told Forbes the cost could be substantially higher, noting in order to make space for the track, Liberty Media purchased nearly 40 acres of prime real estate, costing it roughly $250 million, before spending more than $100 million on the track itself, plus a permanent 300,000 square-foot building at $1,000 per square foot. That’s how much the race is estimated to cost, according to Formula 1 owner Liberty Media, which disclosed it had spent $280 million on the 3.8-mile track. University of Nevada Las Vegas history professor Michael Green told the Associated Press the removal of Vegas’ iconic features is “clearly causing a lot of uproar,” labeling the redesign “Stripmageddon.” Big Number The race - F1’s first in Las Vegas in more than 40 years - has made the iconic Vegas Strip unrecognizable, CNN reported, with The Bellagio’s sweeping fountains drained to provide space for the track.
Weekend hotel prices have also dropped, and now range from $900 to $2,182 for the average cheapest available four-night stay, the Las Vegas Review Journal reported.
