LAS VEGAS, Nev. (FOX5) – The Las Vegas Convention and Visitors Authority has certified the economic impact of the second annual F1 Grand Prix in Sin City.

According to the LVCVA, they estimate the event will raise $250 million or more.

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The tourism body confirmed that last year’s event had an economic impact of approximately $1.5 billion.

“Nevada law requires that special event organizers who wish to place advertising on public streets obtain approval from the county or other government agency,” according to the Las Vegas Convention and Visitors Authority.

To qualify, the event must expect an economic impact of at least $250 million. The LVCVA says the board-certified F1 exceeds the required threshold.

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