Cover Image for MGM Resorts plans to buy $25 Million worth F1 tickets for inaugural 2023 Las Vegas GP

MGM Resorts plans to buy $25 Million worth F1 tickets for inaugural 2023 Las Vegas GP

Tejas Venkatesh
|Wed Aug 17 2022


American Hospitality company MGM Resorts is creating a $100,000 unique experience bundle for fans attending the first Las Vegas GP in 2023.

It will be ‘lights out and away we go’  for the first Las Vegas GP next year. F1 will be returning to ‘sin city’ and racing under the Vegas strip’s bright neon lights.

The Las Vegas Gp will be the third F1 race in the USA on the 2023 calendar. It follows the Miami GP that debuted in 2022. And this is a result of F1’s growing popularity in the USA.

Following the success of ‘Drive to Survive,’ F1’s popularity in the USA has skyrocketed. The sport and driver’s outreach on Social media has resulted in generating interest in the younger fanbase.

With F1 coming to Vegas, the US Market will witness a rise in tourism and hospitality revenue around race weeks. Especially in Las Vegas which is known for its glamourous casinos and resorts.

MGM operates seven Las Vegas Strip resorts. They include the MGM Grand Las Vegas, Mandalay Bay, The Mirage, Park MGM, Luxor, and Excalibur. And the hospitality giant is planning to go big on the race weekend.

 

MGM is planning to acquire $25 million worth of tickets for the Las Vegas GP tickets from F1. According to CEO Bill Hornbuckle, they are planning to create a unique bundle for fans attending the race.

He plans to create hotel+event packages for the fans. It will include paddock or grandstand passes and stays at the MGM resorts. But this could cost a hefty price for fans.

He said packages could retail for up to $100,000 and expects rooms to cost 3 times more during race weekend. Not sure if fans can afford such a VIP experience at an exorbitant rate while the world is facing an economic slowdown!

Also Read:  F1 CEO says Las Vegas GP announcement has four times more impact than the super bowl

2023 Las Vegas GP dates leaked

F1 will be returning to Las Vegas for the first time since 1984. The inaugural Las Vegas GP is set to be held in 2023 and will be a sight to watch.

The race will be held at night, under the bright neon lights of the Las Vegas strip. It will be a 50-lap race and a 14-turn, 3.8 Mile long street track has been selected.

Las Vegas has a contract with F1 till 2027 and will be a staple on the F1 calendar for a while. This makes it the 3rd race in the USA which has been the biggest market for F1 in recent years.

 

According to the F1 provisional calendar for 2023, the Las Vegas GP will take place from 16-18 November. The race weekend will be starting on Thursday rather than F1’s usual Friday to Sunday weekend.

This means Las Vegas GP will hold the second-last race of the season. It has been paired on a back-to-back weekend and will be followed by the season finale in Abu Dhabi.

Also Read: F1 acquires $240m worth land for Las Vegas GP


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