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Las Vegas secures Formula One Grand Prix hosting rights until 2037
๐Ÿ‡ธ๐Ÿ‡ฌ Singapore /Sports

Las Vegas secures Formula One Grand Prix hosting rights until 2037

From CNA · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Las Vegas has extended its contract to host a Formula One Grand Prix until at least 2037.
  • The deal is a 10-year extension to the existing agreement.
  • The race has generated significant economic impact and tax revenue for Southern Nevada since its 2023 debut.

The vibrant lights of the Las Vegas Strip will continue to host a Formula One Grand Prix for years to come. The city has secured a 10-year contract extension, ensuring the race will be held until at least 2037.

We are thrilled that Formula One will continue racing in Las Vegas for many years to come.

โ€” Stefano DomenicaliChief executive of Formula One, expressing excitement about the contract extension.

The floodlit Saturday night event, known for its high speeds along the famed Strip, is one of three U.S. rounds on the F1 calendar. Since its debut in 2023, the Las Vegas Grand Prix has been a resounding success, selling out all three races to date and attracting an estimated 300,000 spectators last year.

Since its debut in 2023, the event has been extraordinary, rapidly establishing itself as a premier destination for great racing, world-class entertainment, global business leaders, A-list celebrities and influencers.

โ€” Stefano DomenicaliDescribing the success and impact of the Las Vegas Grand Prix.

Formula One CEO Stefano Domenicali expressed his enthusiasm for the extension, calling the event "extraordinary" and a "premier destination for great racing, world-class entertainment, global business leaders, A-list celebrities and influencers." He emphasized the sport's long-term commitment to the U.S. market.

We always believed that Las Vegas would become a cornerstone of our presence in the United States and this extension, together with the success of recent years, reinforces our long-term commitment to this important market.

โ€” Stefano DomenicaliHighlighting the strategic importance of Las Vegas for Formula One in the U.S.

The economic benefits for Southern Nevada have been substantial. The grand prix has reportedly delivered $3.2 billion in cumulative economic impact since its inception. Last year alone, the race generated $43 million in state and local tax revenue and contributed over $2 million to nonprofit organizations. Local officials, including the Las Vegas Convention and Visitors Authority, hailed the extension as a "major moment" for the city's standing as a premier sports and entertainment hub.

Securing a 10-year extension through 2037 is a defining moment for the Las Vegas Grand Prix and a reflection of the strength of our local partnerships.

โ€” Emily PrazerPresident and CEO of the Las Vegas Grand Prix, commenting on the significance of the new deal.
DistantNews Editorial

Originally published by CNA in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.