Las Vegas Locked In: F1 Extends Strip Race Through 2037 — and Everyone's Getting Paid

^{The finish line at the Las Vegas Grand Prix gave plenty of indications that this event wasn't going to be over anytime soon. (Photo: courtesy of F1)} 

On the eve of the Monaco GP, Formula 1 announced last Thursday that it signed a 10-year extension to keep the Las Vegas Grand Prix on the calendar through 2037 -- cementing the Strip spectacle as a fact of Vegas life for the foreseeable future.

The extension agreed to by F1, Las Vegas Grand Prix Inc., the LVCVA and Clark County picks up after the current contract expires following the 2027 race. Add the three already completed (2023-25) and two more under the existing deal, and the Strip is locked in for at least 15 editions of the Saturday night race on the 3.8-mile circuit.

The Las Vegas Grand Prix will continue to run on the weekend before Thanksgiving through the life of the contract. This year's race weekend is set for Nov. 19-21. The 2027 Las Vegas F1 race is already scheduled for Nov. 20.

Before the F1 race, this was traditionally one of the slowest weeks of business for Las Vegas casinos. While Strip casino operators and some local businesses enjoy a revenue bump during race weekend, locals and nearby small businesses are inconvenienced for weeks while F1 builds the street circuit.

"We always believed that Las Vegas would become a cornerstone of our presence in the United States," Formula One President and CEO Stefano Domenicali said. "And this extension, together with the success of recent years, reinforces our long-term commitment to this important market."

This extension ensures the U.S. will have at least three F1 races for at least another eight years. The U.S. Grand Prix in Austin will host a race through 2034, and the Miami GP will run through at least 2041.

$3.2 Billion — Says Who?

The Las Vegas GP is the only race on the F1 calendar where the racing league is both the organizer and promoter. A third party is typically involved in the races in other cities. That arrangement gives F1 more control, more revenue exposure and, not coincidentally, more incentive to talk up its success.

F1 says the Las Vegas GP has sold out all three years and created $3.2 billion in economic impact for Southern Nevada between 2023 and 2025. Supposedly the 2025 race alone generated $43 million in state and local tax revenue — though the full economic impact report for that year hasn't been released.

Those numbers come from Applied Analysis, the firm F1 hired to produce the economic impact reports. Applied Analysis also works for the Las Vegas Convention and Visitors Authority, the city's tourism board and an official F1 partner since 2024. Both clients have a shared interest in rosy results, which is worth keeping in mind. 

The 2025 report has not yet been released, but F1 is saying the race generated $43 million in state and local tax revenue.

Some have questioned the accuracy of these figures, however, as Applied Analysis is also paid by the Las Vegas Convention and Visitors Authority. .

While Las Vegas casinos got ahead of their skis with the anticipation of sky-high room rates for the first race in 2023, they were lukewarm on the race in 2024.

By last year's race, Strip casino operators found their groove. During its third-quarter earnings call last year, Wynn executives said room rates were priced at a significant premium to the market.

MGM Resorts narrowed its F1 focus from all eight casinos to its luxury properties: Aria, Bellagio and Cosmopolitan. The company kept rates at its other properties closer to normal pricing for a weekend when the Raiders play home games at Allegiant Stadium.

Off-Strip operators like Boyd Gaming and Station Casinos have seemingly been unimpressed with F1's impact, since their properties are far away from the race.

Infrastructure Upgrades to Ease Locals' Pain

While the race might be a delight for millions around the world, it takes a toll on visitors and locals who work on the Strip. Those problems should decrease slightly in the future, since city and race officials say infrastructure upgrades should shorten setup and teardown times for the circuit. 

One excitedly promised improvement will be the lighting that surrounds the circuit. Steve Hill, president of the LVCVA, told the Las Vegas Review-Journal that lighting structures will be easier to install and take up less space on roads because a new underground power grid will be installed.

Since such a long-term deal is in place, F1 and city officials are also looking to the Monaco GP setup as a model for improving Las Vegas operations. This could include more permanent structures to reduce the time and stress of preparing for the race.

The infrastructure upgrades will help alleviate some of the pain felt by locals who work on the Strip and tourists who want to see the city's sights.

The F1 race got off to a rough start in 2023, with nine months of paving the Las Vegas Strip to ensure the streets were safe for the race. The construction was disruptive to anyone driving through the Strip throughout the summer.

The circuit only needs to be repaved every 6 to 10 years, so this has been less of an issue, but installing barriers and lights still creates logistical problems. In addition to vehicle and pedestrian traffic on the Strip, grandstands for fans obstruct some of the best views in Las Vegas, including the Bellagio fountains.

This grandstand may change physically, but it doesn't appear to be going anywhere, as the Bellagio Fountain Club is the epicenter of activity for MGM Resorts.

The issues aren't just with traffic and obstructed views. While large casino corporations on the Strip may see financial benefits from the race, smaller local businesses nearby have been negatively affected. Things likely won’t change too much, even with ways to streamline the setup and teardown process. 

The LVCVA's Global Billboard

Despite being such a huge tourism destination, Las Vegas still has a tourism board to promote the city, attract visitors, and host events. In 2024, the tourism board became an official partner of F1, as evidenced by signage and marketing integrations at races in other cities.

It's no coincidence that Las Vegas was prominently featured in Apple's F1 movie. The lead song, "Messy," from the soundtrack performed by BLACKPINK's Rose has 76 million views on YouTube.

Since 2024, the company has been treating Las Vegas as its flagship U.S. location since opening Grand Prix Plaza the same year. The permanent structure serves as the main grandstand for the race and is open year-round as an attraction, offering activities like go-karting for visitors.

Last year, F1 Arcade opened inside the Forum Shops at Caesars Palace. The arcade features 87 racing simulators in a bar and restaurant format.

"We always believed that Las Vegas would become a cornerstone of our presence in the United States," said Stefano Domenicali, president and CEO of Formula 1. "This extension, together with the success of recent years, reinforces our long-term commitment to this important market."

With at least 12 more races ahead, there could be more F1 venues and amenities as the racing league settles into a long-term relationship with Las Vegas.