Study: NASCAR weekend has $167 million impact

Thursday, June 2, 2005 | 8:59 a.m.

To nobody's great surprise, Jimmie Johnson wasn't the biggest winner on UAW-DaimlerChysler 400 weekend at Las Vegas Motor Speedway in March.

A Las Vegas Convention and Visitors Authority study released on Wednesday revealed that race week had a record $167 million impact on the Nevada economy.

The total sum -- $167,127,800 -- was a 17.1 increase over the 2004 figure of $142,673,400. The numbers, based on one-time expenditures, are derived from interviews with fans during race weekend and reflect money spent both at the track and away from it, including gaming expenditures.

"We were surprised to hear the number," LVMS general manager Chris Powell said Wednesday. "We were pleased and also surprised by that large a leap. It just shows what a massive event this is, and how important it is to the state and local economies. We are proud of it."

The race weekend, which included the Nextel Cup race, the Sam's Town 300 Busch Series race, Nextel Cup qualifying and two World of Outlaws races, is estimated to have attracted 340,000 spectators. The study estimates that 99,300 of those were from out-of-town.

It's not just the Speedway that benefits from race weekend. The UNLV economics research department estimates that more than $350 million cycles through the Nevada economy during NASCAR week.

"It has such a ripple effect," Powell said.

The ripple effect could turn into a tidal wave if LVMS eventually is successful in landing a coveted second Nextel Cup race.

"That means (more) jobs," Powell said. "And jobs are important."

"It was big in 1998 (the year of the first Nextel Cup race at LVMS). It's getting bigger every year. This gives people who might not come to Las Vegas another reason to come."

Las Vegas Motor Speedway is a subsidiary of Speedway Motorsports, which also owns and operates Atlanta Motor Speedway, Bristol Motor Speedway, Infeon Raceway in California, Lowe's Motor Speedway and Texas Motor Speedway.