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New Jersey's loss became Las Vegas's gain. The 2013 Weehawken F1 GP never came to fruition because of a breach in the race contract by the organizers and promoters. The fallout of the Weehawken race in New Jersey in 2013, resulted in the race location being replaced by Las Vegas.
This isn't the first time that a race venue was dropped out of the maps. The 2014 Indian F1 GP was canceled and never renewed due to a tax dispute. In 2023, the Shanghai F1 GP in China was called off due to Government restrictions on COVID-19.
The United States is a prime location and a lucrative F1 market for manufacturers like Ferrari and Mercedes. A fallout like the one that took place in New Jersey can be a problem for the country, given the kind of economic conditions they have been going through for decades.
Former F1 CEO Bernie Ecclestone had his doubts at an early stage
The race was due to take place in June 2013, when then-CEO Bernie Ecclestone was doubtful that the organizers would be ready on time and also mentioned that they were late with a payment.
After Tom Cotter resigned as president of the race three months later, Ecclestone revealed that the race contract had been forfeited after the organizers and promoters failed to comply with the terms of the race.
This is what Ecclestone said to the media, according to Eurosport:
"There’s not a lot going on with New Jersey. They are still running around trying to get their finances sorted out.”
This jolted the gambling industry in New Jersey. Aside from the jobs that would have been available to citizens of the state, New Jersey also lost all the money it would have made from gambling taxes collected from people who placed bets on the races.
Fast forward to a decade, and the city of Las Vegas is preparing to host the race in November. Casino operators and big resorts like MGM Resorts International are gearing up to create a grandstand for guests to watch the race from the venue.
This racing even expects a considerable influx of traffic as this is the first-ever F1 race to be held on this strip. As Las Vegas is known as the Casino and gambling capital of The United States, it is safe to say that they might not face the same fate as New Jersey as Casinos can accommodate guests in their hotel and generate revenue from casino playing.
