The Las Vegas Grand Prix is optimistic about extending its presence beyond the initial three-year contract ending in 2025. Emily Prazer, CEO and president of the Grand Prix, expressed confidence in the event’s future, highlighting the race’s successful operations and its ability to transform a traditionally slow weekend into a profitable one. Economic impact reports indicate significant financial benefits, with $1.5 billion estimated in 2023 and $934 million in 2024.
Negotiations for a new deal are underway with the Las Vegas Convention and Visitors Authority (LVCVA) and local resort leaders. LVCVA President Steve Hill hopes for a long-term agreement, potentially lasting up to ten years, which would allow for more substantial infrastructure investments and improvements.
Efforts are ongoing to streamline the event’s logistics, including setup and teardown processes on the 3.8-mile street circuit. The potential long-term agreement could facilitate these improvements, enhancing the overall efficiency of the event.
The Grand Prix has been refining various aspects based on previous experiences, including lowering ticket prices and increasing community involvement. The upcoming Grand Prix Plaza aims to boost local and tourist engagement, featuring interactive attractions, food options, and a retail section. This year’s race will start earlier each night to accommodate feedback, focusing on guest and participant safety while enhancing the overall experience.
