NASCAR Weekend nets record $142 million for Las Vegas economy

The 2004 NASCAR Weekend in Las Vegas had a record $142 million impact on the local economy, the greatest impact in the seven-year history of the event.

The Las Vegas Convention and Visitor¿s Authority¿s annual study revealed that the final number of $142,673,400 was 7.3 percent greater than in 2003. The numbers are based on interviews with race fans during the March 5-7 weekend and reflect the amount of money spent ¿ both gaming and non-gaming ¿ during the four-day event at Las Vegas Motor Speedway.

"NASCAR Weekend once again provided an economic boon to Las Vegas," said Las Vegas Motor Speedway general manager Chris Powell. "This event has become one of the most anticipated stops on the NASCAR circuit for hundreds of thousands of people from all over the world."

The study estimated approximately 92,350 visitors attended the race from outside Southern Nevada. These visitors provided a non-gaming impact of $85,361,900 to the local economic market

The event weekend is estimated to have drawn more than 320,000 people through the gates at the speedway. The events included the UAW-DaimlerChrysler 400 NASCAR Nextel Cup event, the Sam¿s Town 300 NASCAR Busch Series race, Friday¿s qualifying day, two nights of the J.D. Byrider Las Vegas Outlaw Nationals for the World of Outlaws and the Southern Nevada Dodge Dealers Showdown for the NASCAR Weekly Series at the Bullring.

According to Keith Schwer of the economics research department at the University of Nevada, Las Vegas, each dollar brought into the area creates a little more than another additional dollar. Based on Schwer¿s analysis, the event generated more than $300 million as the money cycles throughout the Las Vegas economy.

"Once the money comes into Las Vegas, it gets spent more than once," Schwer said. "The hotel that took the initial money then pays an employee with part of that money and that employee invests it in the local economy. That¿s how a dollar turns over and generates more revenue."

There are varying schools of thought on the domino effect of dollars tumbling through an economy. Some economists theorize that a dollar spent can be re-spent as many as seven times in a community. If that were the case, the NASCAR Weekend¿s impact on the Las Vegas economy could exceed $1 billion.

The NASCAR Weekend in Las Vegas is highly anticipated each year by the area¿s business community. Room rates were at their highest mark ever for a NASCAR weekend, flights were up dramatically at McCarran International Airport in the month of March and many local hotels and casinos have reported record revenues for their first quarter that ended March 31.

Powell said the speedway would continue to have a huge impact on the community and state.

"In terms of its impact on this community, the NASCAR Weekend now ranks near the top with many of the major conventions and trade shows that visit Las Vegas every year," Powell said. "We want to make this event bigger and better each year. It takes a collective effort between the speedway, local government and our business community to maintain that constant growth."

Following is a breakdown of the speedway¿s growing impact on the local economy since 2001.

2001 2002 2003 2004

Total expenditures $97,163,700 $121,425,500 $133,451,000 $142,673,400

Las Vegas Motor Speedway is a subsidiary of Speedway Motorsports, a leading marketer and promoter of motorsports entertainment in the United States. In addition to LVMS, the Company owns and operates the following premiere speedways: Atlanta Motor Speedway, Bristol Motor Speedway, Infineon Raceway, Lowe's Motor Speedway and Texas Motor Speedway.  The Company provides souvenir merchandising services through its SMI Properties subsidiary, and manufactures and distributes smaller-scale, modified racing cars through its 600 Racing subsidiary. The Company also owns Performance Racing Network (PRN), which broadcasts syndicated motorsports programming to more than 725 stations nationwide including XM Satellite and For more information, visit the Company's website at