Formula One racing will remain a fixture in Las Vegas for years to come after officials announced Thursday a decade-long contract extension keeping the Grand Prix in Nevada’s entertainment capital through 2037.
The nighttime spectacle under bright lights showcases drivers speeding down the iconic Strip at speeds exceeding 200mph, making it one of three Formula One events held annually in the United States alongside races in Austin and Miami. Las Vegas welcomed its first Grand Prix in 2023.
The Texas venue has secured racing rights until 2034, while Miami’s agreement runs through 2041.
“We are thrilled that Formula One will continue racing in Las Vegas for many years to come,” Formula One chief executive Stefano Domenicali stated before this weekend’s Monaco Grand Prix. The sport is owned by Liberty Media.
“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,” he added.
“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.”
According to Formula One officials, the Las Vegas race has brought $3.2 billion in total economic benefits to Southern Nevada since its launch, with every event selling out completely. Official records show 300,000 people attended last year’s three-day racing weekend.
The previous year’s competition produced $43 million in combined state and local tax income while donating over $2 million to charitable organizations.
“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,” stated Las Vegas Grand Prix president and CEO Emily Prazer.
Multiple organizations including Las Vegas Grand Prix Inc, Clark County leadership and the Las Vegas Convention and Visitors Authority have pledged their support for the race’s continued operation.
The convention authority’s president Steve Hill called the extension a “major moment” for both the racing event and the city.
“As the spotlight of the world turns to Las Vegas, the event continues to reinforce our evolution as a premier sports and entertainment destination,” Hill commented.
