By Prof Dr Ian Blackshaw
It has been announced that Formula 1 is extending its contract with Las Vegas, United States, by 10 years.
The first Formula 1 race took place in Las Vegas in 2023, following 40 years of attempts to secure a race there.
In fact, Formula 1 was so determined for the race to become a success that it invested US$500 million (around €429.6 million) in purchasing a plot of land in the centre of Las Vegas, on which it constructed a new pit building and paddock.
Stefano Domenicali, The President and CEO of Formula 1, stated that:
"We are thrilled that Formula 1 will continue racing in Las Vegas for many years to come.”
And added that:
"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."
The event has proved a major success for Las Vegas, turning what had been its least profitable weekend of the year, the one before Thanksgiving, into one of its most lucrative.
Steve Hill, the President and CEO of the Las Vegas Convention and Visitors Authority, stated that:
"Extending our partnership with Formula 1 for the next decade is a major moment for both Las Vegas and the grand prix.”
And added that:
"In just three years, the race has become a signature global event - putting Las Vegas at the centre of culture, competition and entertainment during race week.”
Since 2023, the Formula 1 Grand Prix has delivered U$3.2 billion (around €2.7 billion) in cumulative economic impact for Las Vegas and the 2025 event alone has generated US$43 million (around €36.9 million) in tax revenue for the City.
Prof Dr Ian Blackshaw may be contacted by e-mail at ‘