Las Vegas Clears the Way for Ten Years of Formula 1 on the Strip
Author:
Roy Brindley
“What happens in Vegas stays in Vegas,” so the old saying goes. It appears that old chestnut continues to ring true. Despite a Formula 1 contest not taking place in Nevada’s gambling Mecca for over four decades, officials have moved to secure the city’s place on the premier motorsport’s calendar for the next ten years.
2023 will mark the first Las Vegas Formula 1 Grand Prix of the modern era. Unlike its predecessor, which raced around the Caesars Palace parking lot, this year’s contest will utilize the world-famous Strip and pass many of Las Vegas’s most famous landmarks.
Sergio Perez, at the wheel of a Red Bull, demonstrates the speed of Formula 1 cars during a Las Vegas promotional event in November 2022. ?GettyImages
The sport is enjoying tremendous growth in North America. Its popularity has been ignited by the Netflix documentary, Drive to Survive. The show first aired in 2019, and season five of the behind-the-scenes biopic will debut worldwide on February 24th.
Three U.S. Races and Decade of Vegas Grand Prix
Since 2012, the United States Grand Prix in Austin has been a mainstay on the calendar. Remarkably, its early races were blighted by poor attendance and the race nearly lost its spot on the annual roster.
However, the growing North American fanbase saved it and led to the introduction of the Miami GP in 2022. The inaugural Floridian race may have been a boring spectacle, but the event was a huge commercial success.
Tourists from all over the world flocked to watch Formula 1 cars streak around the Hard Rock Stadium, a venue that was awash with A-list celebrities. The race weekend successfully worked to further promote the Formula 1 brand. Furthermore, online betting sites reported record betting turnover on the contest.
Inspired by Miami’s success and before its 2023 race debut, Clark County officials have agreed to a resolution permitting Las Vegas to host Formula 1 races annually for the next ten years. The initial agreement with the sports ringmasters – announced on March 31, 2022 – was for a three-year deal.
Super Money to Be Made in Vegas
The enthusiasm is easy to understand. This year’s Las Vegas Grand Prix – a floodlit night race scheduled for the weekend before Thanksgiving – is expected to produce an economic impact of around $1 billion, twice that of a Super Bowl.
Vegas during the ?? vs ??. Are you a day or night racer? #LasVegasGP #F1 pic.twitter.com/hkzT1BmEK8
— F1 Las Vegas (@F1LasVegas) February 1, 2023
Advanced sales of tickets and packages are reportedly impressive, and prices are astronomical. The ticket price for a basic three-day pass with Las Vegas hotel accommodation away from the famous Strip is quoted at $2,000-plus.
An upgrade – such as three nights in a Venetian Hotel suite for two people incorporating two three-day passes to the grandstands with post-race food and non-alcoholic beverages – will set couples back $8,850.
Formula 1 Dates for Your Diary
In 2023 five Formula 1 races will take place in North America, so there are alternatives. The Canadian Grand Prix – raced within Montreal’s Jean Drapeau Park – is scheduled to take place on June 18th. Mexico is the other venue joining Austin, Miami and Las Vegas. Its race will be the 20th round of the season and is due to go down on October 29th.
The new Formula 1 season will get underway on March 5th in Bahrain. The Saudi Arabian (March 19th) and Australian (April 2nd) Grand Prix will follow. Formula 1’s cornerstone races – the Monaco Grand Prix and British Grand Prix – are scheduled to take place on May 28th and July 9th.
