The Las Vegas Grand Prix has agreed a two-year extension that will see Formula 1 cars racing down the Strip until at least 2027 – although it is expected to stay on the calendar for much longer.
Having returned to F1 in 2023, Vegas is in a unique position among the 24 destinations that form the current calendar given it is promoted by FOM itself, and the race had an initial decade-long “commitment” when it was first announced.
That means its place on the schedule is very secure and arguably does not need the kind of public announcement the Miami Grand Prix received last month when a new deal until 2031 was confirmed.
The only push back to the Las Vegas Grand Prix would likely come from the city itself, but having F1 in town on one of its weakest weekends in terms of revenue has given the hotels, casinos and retailers a boom.
Las Vegas Grand Prix organisers revealed that the 2024 race weekend generated $934million in revenue, with figures published in the GP's economic impact analysis showing the contest is the largest recurring event in Las Vegas with a race week attendance of 306,000, of which 175,000 were from out-of-town.
“We’ve agreed collectively that we’re going to do a two-year extension for 2026 and ’27,” Emily Prazer, president and CEO of the Las Vegas Grand Prix and chief commercial officer of FOM, said.
“We want to make sure that we’re continuing to evolve what we’re doing. But the intent is a much longer-term arrangement.
“As we all know, the race has had its challenges, but we’re coming out the other side. So we want to make sure that it continues to work for both sides.
“So collectively, we sat down and agreed that was the best approach. We’re very much planning longer-term, but that’s kind of where we’re at right now.”
In terms of revenue, November is often the eighth-best month of the year for the Nevadan city, but last year’s race saw it become the best month in its history.
“The length of extensions don’t really reflect anything, other than it just makes sense incrementally, we know what’s going to happen over the next couple of years,” said Steve Hill, the president of the Las Vegas Convention and Visitors Authority.
“We’re planning on this being a permanent race, we’ll just keep planning extensions that will probably expand as we go forward
“It just has an impact that we aren't able to replicate on an annual basis for anything else. Nothing else has actually changed.”
Max Verstappen was crowned F1 world champion in Vegas last year, celebrating in front of the Bellagio fountains – while the other landmarks along the Strip also benefit from the exposure of the weekend.
