Formula 1 has invested heavily in its upcoming Las Vegas Grand Prix — and it’s expecting a huge return.
The series is targeting $500 million in revenue from the November race, its first in Las Vegas since 1982.
The race generates cash through media deals, fees from race promoters selling tickets, corporate pacts, and its Paddock Club hospitality business. Three-day tickets cost around $500, with high-end, five-day packages hitting over $15,000. The first batch of tickets released by F1 sold out in under an hour. F1 booked $1.8 billion in the first nine months of 2022.
Heineken Silver will be the title sponsor of the race, while iconic Vegas names MGM Resorts, Wynn Las Vegas, and Caesars Entertainment are founding partners.