The Las Vegas Convention and Visitors Authority (LVCVA) approved a 10-year, $100 million contract to continue hosting the Formula One Las Vegas Grand Prix through 2037, cementing the city’s position as a global motorsport destination.
The deal, formally approved during the LVCVA’s regular meeting on July 14, extends the race annually on the weekend before Thanksgiving. The 3.8-mile street circuit includes sections of Las Vegas Boulevard, Koval Lane, and Harmon and Sands avenues.
The inaugural race in 2023 generated an estimated $1.5 billion in economic benefit for Southern Nevada, including $600 million spent by F1 to bring the street circuit up to race standards. The 2024 and 2025 events had economic impacts of approximately $900 million and $800 million respectively, according to the LVCVA.
Under the agreement, the tourism agency will spend $10 million annually — $2.5 million to purchase race tickets for current or prospective clients and $7.5 million to supplement race costs. The LVCVA previously held a three-year deal from 2023 to 2025, followed by a two-year extension.
“This race produces an $800 million economic impact that makes us a focus of the global stage for the week that it is here,” said Steve Hill, LVCVA president and CEO. “It’s an enormous event. We think this is an exceptional deal for the community.”
The extension includes plans for permanent infrastructure improvements designed to speed up the setup and teardown of race infrastructure, reducing the traffic disruptions that have frustrated locals. Clark County Commissioner Jim Gibson indicated these improvements may take a couple of years to implement but will make a significant difference.
“The extension of this race allows longer-term investments into the improvement of the experience for the attendees and the community during mobilization and demobilization,” Hill said. The agreement with Clark County will include installation elements to reduce traffic headaches that have accompanied the event since its inception.
The F1 extension was one of three major sports-related deals approved by the LVCVA on Tuesday, alongside the 2027 College Football Playoff national championship and Pac-12 basketball tournaments, further solidifying Las Vegas’s claim as the sports and entertainment capital of the world.
Sources: Las Vegas Review-Journal, Review-Journal – F1 Extension
