How Formula 1 Is Fueling Real Estate Growth in Las Vegas & Henderson

Let’s talk about something that’s been revving up excitement in Las Vegas and Henderson—Formula 1. Yeah, the same high-octane racing that’s been thrilling fans worldwide is now making waves right here in our backyard. And trust me, it’s not just about the races; it’s about the opportunities it brings, especially in real estate.

What’s the Deal with Formula 1?

Formula 1, or F1, is the pinnacle of motor racing. It kicked off in 1950 at Silverstone in the UK, featuring elite teams like Ferrari and Mercedes-Benz . Over the years, it’s evolved into a global spectacle, attracting over 800 million fans worldwide.

The sport has seen a surge in popularity, thanks in part to Netflix’s “Drive to Survive,” which brought the drama and personalities of F1 into living rooms around the world. This has led to a more diverse fanbase, with significant growth among younger audiences and women.

Economic and Real Estate Impact

Let’s talk numbers. The inaugural Las Vegas Grand Prix in 2023 generated a staggering $1.5 billion in economic impact . Even in its second year, 2024, it brought in $934 million . That’s not just chump change; it’s a significant boost to the local economy.

For the real estate market, this influx of capital and attention means increased demand for properties, especially in prime locations. Investors are eyeing Las Vegas and Henderson as hotspots for growth. The development around the Grand Prix Plaza is a testament to that.

Community Benefits

Under the hood of the hype, the community stands to gain. The F1 event generated $45 million in taxes in 2024, with $15.5 million allocated to schools across Nevada . That’s a direct investment in our future.

Grand Prix Plaza

Now, let’s shift gears to the Forumla 1 Grand Prix Plaza in Las Vegas. This isn’t just a venue; it’s a 39-acre immersive F1 experience . We’re talking about F1 Drive, where you can race karts equipped with DRS technology, and F1 X, a 4D journey through the world of Formula 1 . There’s also the F1 Hub, featuring state-of-the-art simulators, a flagship F1 store, and top-notch dining options.

This place is a magnet for tourists and locals, offering year-round attractions that keep the energy buzzing even when the races aren’t on.

Moreover, the Grand Prix Plaza offers employment opportunities and supports local businesses. It’s not just about racing; it’s about building a sustainable community.

Global Growth of Formula 1

Formula 1’s expansion isn’t limited to Las Vegas. The sport has seen a 12% increase in its global fanbase, reaching 826.5 million in 2024 . Markets like China and Canada have experienced significant growth, with increases of 39% and 32%, respectively.

This global appeal translates to more international visitors, residents, and investors looking at Las Vegas and Henderson as prime destinations. It’s a ripple effect that benefits our local economy and real estate market.

Growth and Opportunity

So, what does this mean? It means opportunity. The fusion of Formula 1’s global allure with Las Vegas’s vibrant energy creates a unique landscape for growth. Whether you’re a real estate investor, a business owner, or someone looking to settle in a dynamic community, now is the time to take action.

I’m Eric Gorton, owner of THE GORTON GROUP, a premier real estate team serving the Las Vegas and Henderson area. We’re here to help you navigate this exciting market and find the perfect property to meet your needs.