LAS VEGAS — The Las Vegas Grand Prix marked a historic moment for Formula One (F1) when it kicked off the sport's newest residency last November.

With a staggering investment of over half a billion dollars, F1 took full control of promoting and organizing this much-anticipated race, setting the stage for a dazzling spectacle on the Strip.

Despite a rocky beginning that included a canceled first practice due to a loose water valve cover, the event turned into a sensational success.

The thrilling contest saw Max Verstappen, Sergio Pérez, and Charles Leclerc engage in fierce battles throughout the race, showcasing a high-speed layout that became an instant favorite among drivers.

Notably, local businesses prospered as November turned from the eighth-best month of the year into its second-best ever for tourism-related spending.

"We knew it would be big, but the attention exceeded our expectations by two or three times," remarked Steve Hill, CEO of the Las Vegas Convention and Visitors Authority (LVCVA). “We were prepared for less, so this was eye-opening."

As F1 gears up for its second installment in Las Vegas, organizers have acknowledged a shift in dynamics.

While the novelty may have decreased, invaluable experience has been gained, and the challenge now is to replicate the success of the inaugural event.

The competitive aura surrounding the races has intensified, particularly as Verstappen may secure his fourth championship title this weekend—provided he finishes ahead of rival Lando Norris.

This possibility offers a unique opportunity for the Las Vegas Grand Prix to celebrate a potential champion in its glitzy arena, with organizers already brainstorming creative festivities.

"Should we end up with a championship celebration, we have numerous high-end hospitality options along the Strip," said Renee Wilm, CEO of the Las Vegas Grand Prix.

"This presents fantastic opportunities to showcase the drivers and the spirit of F1."

To engage fans more effectively, the organizers have made strategic changes, including increasing ticket availability.

This year, 10,000 extra general admission tickets were added across three fan zones, aiming to make the grand prix accessible to a wider audience.

Additionally, marketing efforts have shifted, with promotional campaigns launching 100 days prior to the race instead of a year ahead, aligning with Las Vegas's reputation as a last-minute destination.

An anticipated 300,000 attendees are projected to attend this year's event, based on ticket sales and accommodations being reserved.

Efforts to integrate with the local community have also been amplified, highlighted by a free fan festival that quickly became fully booked.

The disruption caused by the race last year led to tension between organizers and locals.

Major road construction, necessary to adapt the city streets for F1 cars, resulted in significant traffic challenges.

This year, with most work already completed, locals should face less disruption.

"We understand what the community needs and expect this year, and we're committed to minimizing any inconvenience," said Hill.

"We've adjusted our timeline for road disruptions, ensuring better communication and smoother execution ahead of the race."

Miller, overseeing track construction, confirmed that lessons were learned from the water valve incident leading to enhanced safety protocols.

"We’ve implemented a thorough check of utility covers to prevent a repeat of last year's disruption," he explained.

The grand prix has undeniably had an enormous financial impact on Las Vegas, contributing an estimated $1.5 billion to the local economy and raising significant tax revenue.

While replicating last year's astonishing numbers may prove challenging, Hill is optimistic about achieving a sustainable success.

"Even if we reach half of last year's figures, it would be transformational."

Looking forward, the focus shifts to maintaining an equilibrium between providing an exhilarating experience and accommodating local needs.

While a 10 p.m. PT start time might bring its own challenges, efforts are underway to ensure that the Las Vegas Grand Prix remains a successful event for years to come.

"This race is vital for our partnership with Liberty and F1," Hill emphasized.

"Sustainability is key, and we are excited to bring another unforgettable event to one of the busiest streets in the world."

As excitement builds for the second edition of the Las Vegas Grand Prix, it'll be intriguing to see how the organizers tackle the challenges ahead while ensuring an unforgettable experience for fans and drivers alike.