Who’s paying for F1? Las Vegas official says funding is unlike any other large Strip event

Who’s paying for F1? Las Vegas official says funding is unlike any other large Strip event

Article brief provided by KLAS-TV
  • Ryan Matthey, KLAS-TV
September 9, 2023 12:54 PM

Light stanchions as tall as pedestrian bridges now line Harmon just off of Las Vegas Boulevard; they’re part of the nearly half-billion dollar project Formula One is investing in Las Vegas, with finances still not set in stone.

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How it’s being financed so far, in some ways, is unlike how any large event on the Strip has been before.

Las Vegas Convention & Visitors Authority (LVCVA) CEO and president Steve Hill predicted a return on investment that warranted some financial help during early negotiations.

“We will pay for Metro during the race. We’ll pay for Clark County Fire during the race. We do volunteer services,” Hill said during an interview with Politics Now Anchor John Langler.