‘Cost could rise to $100k’: Hotel event packages set to be ultra expensive for the much-awaited Las Vegas GP

‘Cost could rise to $100k’: Hotel event packages set to be ultra expensive for the much-awaited Las Vegas GP

Las Vegas GP

The Formula 1 calendar is in for expansion or upheaval (maybe both) in 2023. France, Belgium, and Monaco are all in danger of being axed, while Qatar will make a return to the calendar, with China and Kyalami also making returns. Formula 1 in the United States is also in for expansion – and a new Las Vegas GP will make its debut next year.

Formula 1 is continuing to take advantage of the market created in the United States for the sport through the advent of ‘Drive to Survive’, which radically expanded its following in the country. For a long time, F1 was unable to crack the US market, but they have now tapped into it – and there may even be future expansions.

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The Las Vegas GP is highly anticipated, especially in the US. The city is well known for its gambling and vibrant nightlife – a kind of American Monte Carlo, which currently hosts what is likely the most iconic and prestigious Formula 1 event. Nevada governor Steve Sisolak believes that it could become the most iconic Formula 1 race in the future. With such expectations and anticipation come high prices.

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Also Read: F1 reveals plan to build 900 feet long paddock facility in Las Vegas

MGM Resorts set to buy 25 MILLION dollars worth of tickets

The Las Vegas GP track layout by F1
The Las Vegas GP

As reported by MotorsportWeek, MGM Resorts, a major American hospitality company founded in Las Vegas itself is set to buy more than 25 million dollars worth of tickets for the Las Vegas GP. According to the Sports Business Journal, they will be used to create hotel+event packages for the race, confirmed by MGM CEO, William Hornbuckle.

Moreover, Hornbuckle also said that the rooms at this time may cost ‘three times their usual rate’ and that the aforementioned Hotel+Event packages may retail up to 100 thousand dollars, which is, of course, a lot of money.

Formula 1 is also clearly banking heavily on the race: It has reportedly spent 191 million dollars to expand, improve and build a paddock facility for the race. It seems like a fairly perfect situation for both parties involved: People that come to the race will likely be attracted to the casinos as well, and that brings even more income to the city.

The race weekend is set for 16-18 November next year, and in a change of tradition, it will take place at 10 PM local time on a Saturday, which is 5 AM GMT (Britain). Perhaps the reason for scheduling also involves after-race plans: spectators can spend the rest of the time at the Casinos. This way, they can enjoy themselves late into the night.

Also Read: Provisional F1 2023 calendar: Belgium, France dropped; inaugural Las Vegas GP to be held in November

Also Read: F1 secure $191 million purchase near Las Vegas strip to expand and improve the circuit