Formula One Promises Cheaper Las Vegas Tix, Less Disruption

Posted on: February 28, 2024, 07:14h. 

Last updated on: February 29, 2024, 11:13h.

Corey Levitan Read More
Expertise: Commercial Gaming, Entertainment, Expert Insight, Las Vegas.

Formula One said it would sell at least some tickets for this year’s Las Vegas race at lower price points. Las Vegas Grand Prix CEO Renee Wilm made the promise during Formula One parent company Liberty Media’s earnings call this week. Formula One has also promised that preparations for its second Las Vegas race, taking place November 21-23, 2024, would be only a third as disruptive to traffic, tourism, and commerce on the Strip.

F1
About 316K tickets were sold for the 2023 race, with F1 estimating its economic impact on Las Vegas at $1.2 billion. (Image: XPB)

The inaugural Formula 1 Las Vegas Grand Prix was the most expensive event to attend on the racing group’s 2023 calendar. Though a limited number of standing-room-only general admission seats were available for $500 in the MSG Sphere Zone, grandstand seats were priced at a minimum of $2,000 — and that was before the secondary market raised their prices even higher.

Though neglecting to mention how much the cheapest 2024 tickets would go for, Wilm said they would apply to a new general admission zone where single-day admission will be possible.

Wilm also promised that Formula One would try to distribute these tickets to the casino properties that felt disengaged from the first race and its profits.

“We are also working in partnership with the LVCVA to actively engage downtown,” Wilm said. “Different types of activations, potentially watch parties, but really to spread this benefit of what was an incredible weekend throughout the entire valley.”

Vroom for Improvement

Clark County representatives also confirmed this week that the race would continue on the Las Vegas Strip through at least 2026, even though one Clark County official recently claimed that Clark County had no long-term commitment to stage the disruptive event.

The 2024 race will be run on the same 3.8-mile street circuit, which includes the Las Vegas Strip, Koval Lane, and Harmon and Sands avenues.

F1 will also once again construct a temporary bridge on Flamingo Road over Koval, even though some local businesses negatively impacted by the bridge have threatened to sue Formula One  for millions in business losses. Race officials and Clark County have stated that they are working on a plan to make this year’s bridge less disruptive.

Grand Prix officials have claimed that the nine months it took to prep the circuit for 2023’s race will be compressed into three months.

About 316K tickets were sold for the 2023 race, with Formula One estimating its economic impact on Las Vegas at $1.2 billion.