F1 commits to Las Vegas Grand Prix through 2027 as city sees economic gains

The Las Vegas Grand Prix has received a two-year contract extension, keeping the race on the F1 calendar through 2027. The agreement comes as the event evolves from a motorsport spectacle to a new revenue engine for the city, generating $934 million and helping reverse the historically slow November tourism trend.

The Formula 1 race, which runs through the Las Vegas Strip, was initially introduced to the calendar in 2023 on a three-year contract. A two-year extension was confirmed on Saturday during the Canadian Grand Prix, although Las Vegas had already appeared on the 2026 calendar released earlier in the week.

The event is supported by local casinos and operates with a 10-year approval from Clark County to use the Strip as part of the race route.

Emily Prazer, President of the Las Vegas Grand Prix and Chief Commercial Officer of Formula 1, said long-term planning is underway. “We want to make sure that we’re continuing to evolve what we’re doing. But the intent is a much longer-term arrangement,” she said. “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.”

The event’s debut in 2023 came with several challenges, including high ticket and hotel prices. A loose water valve cover during the first practice session damaged Carlos Sainz Jr.’s car and led to a lengthy track inspection. The second practice session was delayed and ran until 4 a.m., with fans being required to leave before it resumed.

In response, organizers reduced ticket prices and hotel rates for 2024. The start time of the race was also changed from 10 p.m. to 8 p.m. on Saturday.

Held the weekend before Thanksgiving, the race contributed to a shift in the city’s tourism patterns. November, previously considered one of Las Vegas’ weakest commercial months, became the most commercially successful month in city history following the inaugural Grand Prix.

Figures released this year showed that the 2024 event brought in $934 million in revenue and generated $45 million in taxes.