Las Vegas Grand Prix: Extended to 2027 | F1 News
The Las Vegas Grand Prix, an event that electrifies the iconic Strip, is locked in through 2027, securing its place on the Formula 1 calendar. This two-year extension, a testament to the race’s success, promises more high-octane action and important economic impact for the city.The race played a key role in boosting November revenue, a traditionally slow period, to record heights, generating nearly a billion dollars in 2024.The upcoming race in November also sees a time change, designed to maximize viewership. With this news, News Directory 3 is thrilled to unveil further details on the race’s evolution. Discover what’s next for the Las Vegas Grand Prix, and how it continues to evolve.
Las Vegas Grand Prix Secures Extension Through 2027
The Las Vegas Grand Prix, which runs down the iconic Strip, has received a two-year contract extension, ensuring its place on the Formula 1 calendar through 2027. The initial three-year contract, signed in 2023, included commitments from casino partners and a 10-year approval from Clark County.
Emily Prazer, president of the Las Vegas Grand Prix and chief commercial officer of F1, said the goal is to extend the race arrangement for the long term. “we want to make sure that we’re continuing to evolve what we’re doing,” Prazer said. “But the intent is a much longer-term arrangement.”
The inaugural race in Las Vegas faced challenges, including high ticket and hotel prices and a damaged car due to a loose water valve cover.despite the rocky start, the race proved to be one of the season’s best.
For the 2024 race, ticket prices and hotel rates were lowered. This November’s race will also see a time change, moving from 10 p.m.to 8 p.m. on saturday.
City officials credit the Grand Prix for substantially boosting revenue during what was traditionally a slow commercial period. November, typically one of Las Vegas’ weakest months, experienced its most commercially accomplished month in the city’s history last year.The 2024 event generated $934 million in revenue and $45 million in taxes.
What’s next
Las Vegas aims to continue improving the Grand Prix experience and solidifying its position as a key event on the Formula 1 calendar, further boosting the city’s economy.