The Las Vegas Convention and Visitors Authority recently secured agreements related to the College Football Playoff national championship and the Pac-12. In addition, it approved a 10-year, $100 million contract to continue hosting the Formula One Las Vegas Grand Prix through 2037.
The LVCVA approved these three sports-related agreements during its regular meeting, further strengthening the city’s position in sports and entertainment. Indeed, Las Vegas remains a leading destination for major events.
The 10-year Formula One extension ensures the Grand Prix will be held annually through 2037 on the weekend before Thanksgiving. All is set within the vibrant energy of Las Vegas. The race will use a 3.8-mile street circuit that includes Las Vegas Boulevard, Koval Lane, and Harmon and Sands avenues.
Vegas Grand Prix History
The inaugural 2023 race generated an estimated $1.5 billion economic benefit for Southern Nevada. This includes $600 million invested by F1 to upgrade the street circuit. Notably, the Las Vegas events of 2024 and 2025 are projected to have economic impacts of about $900 million and $800 million, respectively, according to the LVCVA.
The extension includes a $100 million commitment from the tourism agency, allocating $10 million annually for the Grand Prix. From that, $2.5 million will buy race tickets for current or prospective clients. Meanwhile, $7.5 million will support race-related expenses. This solidifies investments in Las Vegas sports tourism.
The LVCVA initially signed a three-year agreement with F1 to host the race from 2023 to 2025. This was followed by a two-year extension for races in 2026 and 2027. After the 2027 event, a new 10-year contract will begin for more Las Vegas excitement.
The LVCVA formally approved the 10-year extension, which was announced last month. This agreement, along with a separate 10-year agreement with Clark County, will include measures to expedite the setup and removal of race infrastructure, helping to minimize traffic disruptions in the Las Vegas area.
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Eric Butler is a Contributor for Dice City Sports. You can follow him on Instagram and X via @ReportandOpine
