Las Vegas tourism officials are planning to spend $100 million for the sponsorship of the Las Vegas Grand Prix from 2028 to 2037 and allocate nearly a half-million-dollars for tradeshows in the United Kingdom, France and Spain.
The 10-year sponsorship comes to $10 million a year for the Formula One race that debuted on the Strip in November 2023 and will occur again this year the weekend before Thanksgiving.
The Las Vegas Convention and Visitors Authority will vote on the expenditures on Tuesday.
The inaugural F1 race in 2023 delivered an estimated economic impact of approximately $1.5 billion, driven in part by the significant upfront infrastructure investment by Las Vegas Grand Prix, Inc., making it the largest single special-event economic impact in Las Vegas history, according to LVCVA CEO Steve Hill.
The 2024 and 2025 races each generated over $900 million in economic impact, establishing the Grand Prix as Las Vegas’s most significant recurring annual event.
For the 2024 and 2025 races, the Board approved an annual sponsorship expenditure of $6.5 million. In addition, the LVCVA purchased $2.5 million worth of event tickets to host current and prospective clients and cover costs related to transportation, logistical support, and other event-related activities.
The LVCVA’s annual expenditures for the 2023 to 2025 races were $9 million per year. In August 2025, the Board approved a restructured $10 million annual sponsorship for the 2026 and 2027 events.
“This updated sponsorship model incorporated both Las Vegas Grand Prix tickets, valued at approximately $2.5 million, and race support costs into a single consolidated agreement, streamlining expenditures while maintaining hosting and operational capabilities,” Hill said. “The proposed 2028–2037 sponsorship continues the $10 million annual investment, preserving the same level of ticket access and fully integrating race support. This structure ensures continuity in client engagement while providing a more efficient and transparent framework for delivering the Las Vegas Grand Prix’ ongoing economic and strategic benefits.”
The LVCVA is also preparing to spend $458,000 for exhibition space at the 2026 WTM London, IBTM World Barcelona, and ILTM Cannes tradeshows.
H. Fletch Brunelle, the tourism agency’s vice president of marketing, said industry tradeshows provide the LVCVA with opportunities to develop business for the destination through lead generation and sales, networking opportunities with industry executives, meeting and event planners, and travel buyers, and intelligence gathering related to industry trends and buyer needs.
The LVCVA will sign a contract with Reed Exhibitions, which specializes in the design, management, and production of exhibition stands and temporary pop-up retail solutions.
WTM London brings together more than 40,000 travel professionals and 4,000 exhibitors from over 180 countries to network, share insights, and do business.
“It provides the LVCVA a premier marketplace to showcase Las Vegas to international buyers, strengthen relationships with global partners, and secure new visitation-driving business opportunities for the destination,” Brunelle said.
IBTM World Barcelona is a global trade show for the meetings, incentives, conferences, and events industry, gathering thousands of event professionals and buyers from over 100 countries. It offers the LVCVA a high-value platform to position Las Vegas as a premier meetings destination, deepen relationships with international planners and hosted buyers, and secure future business, Brunelle said.
ILTM Cannes (International Luxury Travel Market Cannes) is a luxury-travel trade show, bringing together top-tier travel brands, elite advisors, and media for one-to-one appointments, trend-focused education, and high-impact networking, Brunelle said. “It offers the LVCVA access to high-end travel advisors and luxury tour operators, enabling Las Vegas to position itself as a premier luxury destination and cultivate relationships to drive international visitation.”
In other matters, some $1.75 million is proposed for the Fremont Street Experience to sponsor the Neon City Festival Nov. 20-22 during Grand Prix weekend. The expenditure is an attempt to drive visitors downtown with programming centered on Fremont Street and downtown.
The Neon City Festival plans to incorporate an eclectic mix of A-list musical talent, local vendors, art installations and exhibits, and a variety of food and beverage outlets. It’s free and open to the public.
The LVCVA is also preparing a two-year $600,000 sponsorship with the Pac-12 Conference to host the men’s and women’s basketball tournaments in March 2027 and 2028 at the MGM Grand Garden Arena. Set to tip off on Tuesday, March 9, 2027, both Pac-12 men’s and women’s postseason events will take place on the same days as part of two eight-game tournaments held over five days. The Pac-12 Men’s Basketball Tournament will have its first seven games and four rounds televised nationally on USA Network, with the championship game airing on CBS and streaming on Paramount+. The Pac-12 Women’s Basketball Tournament will feature national free-to-air coverage on The CW for the semifinals and championship game, with early-round broadcast details to be announced.
The Pac-12 Basketball Tournaments are projected to attract more than 15,000 out-of-town visitors, generating over 13,000 incremental room nights for the destination, according to Jennifer Hawkins, vice president of sports development for the LVCVA.
The LVCVA will spend $1 million to host the WorldGymnaestrada July 7-13, 2031, in Las Vegas. The World Gymnaestrada is a global, non-competitive, gymnastics festival, held every four years, that brings together thousands of participants of all ages, abilities, and disciplines from more than 50 countries.
Started in the 1950s, it’s the largest gymnastics event in the world, featuring large-scale group routines, national showcases, and cultural exchanges in artistic, rhythmic, acrobatic, and general gymnastics, with an emphasis on unity, diversity, and the joy of movement rather than competition, Hawkins said. The 2031 event will mark the first time the World Gymnaestrada is hosted in the U.S. and is expected to draw significant international participants to the destination, with more than 17,500 athletes anticipated to take part in the event.
World Gymnaestrada events will take place the Las Vegas Convention Center, MGM Grand Garden Arena, T-Mobile Arena, Mystere Theater at Treasure Island, Fremont Street, the Westgate Las Vegas Resort, and other venues across the destination, Hawkins said.
