Las Vegas: MGM exec says F1 brought record-setting hotel revenue

Las Vegas: MGM exec says F1 brought record-setting hotel revenue

Article brief provided by Nevada Independent
  • Howard Stutz, Nevada Independent
December 6, 2023 3:30 PM
  • Howard Stutz, Nevada Independent

MGM Resorts International Chief Financial Officer Jonathan Halkyard gave company shareholders an early holiday gift, given that official gaming revenue totals and tourism figures surrounding last month’s Formula One Las Vegas Grand Prix won’t be released until after Christmas.

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Speaking at a Bank of America investment conference last week, Halkyard said MGM’s efforts in hosting guests for the Nov. 16-18 racing event produced “the highest-grossing weekend for hotel revenue” in the company’s history.

He said MGM “invested pretty heavily” into the inaugural Grand Prix, including building and operating the ultraluxury trackside Bellagio Fountain Club, which combined high-end dining, grandstand seating and a rooftop viewing space the length of three football fields.