With Formula One set to hit the Las Vegas strip in November, many of the hotspots in the area are furious at what they see as the racing circuit gouging them for access to the race.
Formula One, has been granted permission to run the Las Vegas Grand Prix on the city’s famed Strip until the year 2032.
The Clark County Commission passed the motion in February, guaranteeing F1’s newest race a decade-long run in the gambling mecca.
However, restaurants and clubs have learned that the league is charging at least $1,500 per person at venues along the racetrack for licensing rights to operate during the Las Vegas Grand Prix.
That would work out to about $2.25million if you’re a venue that has seating for 1,500.
With Formula One set to hit the Las Vegas strip in November, many of the hotspots in the area are furious at what they see as the racing circuit gouging them for access to the race
Sales reps for F1 have said that they will put up barricades in front of the venues to prevent people from seeing the race if they don’t pay the fee.
‘There is a real chance of obstructing views with stands and barricades,’ a source said. ‘I know the hotels are upset about it and they are trying to figure out if they’ll play along.’
Others have suggested that there will be blinding lights shone at the venues to make sure no one gets a look at the race.
‘They are literally shaking people down saying they will obstruct views unless they pay them,’ a casino owner told the New York Post, who received a letter sent to the venues described as containing a ‘subtle threat’.
‘It seems insane that they are asking money for a public event that is taking place in the streets.’
This is often the standard practice for F1 races, including the famous Monaco Grand Prix.
One Vegas exec told the Post, however, that F1 is pressuring the race’s official sponsors to get one venue refusing to pay up to get in line.
‘There is a certain line they are crossing [by] telling someone who has spent billions on their property that you are shutting the Strip down for construction and then asking them to pay for seats,’ the source said.
Sales reps for F1 have said that they will put up barricades in front of the venues to prevent people from seeing the race if they don’t pay the fee
Restaurants and clubs have learned that the league is charging at least $1,500 per person at venues along the racetrack for licensing rights to operate during the Las Vegas Grand Prix
A Formula 1 racing team car from Oracle Red Bull Racing burns out on the Las Vegas Strip during the Las Vegas Grand Prix Launch Party, ahead of the 2023 Inaugural Las Vegas Grand Prix, at Caesars Palace, in Las Vegas, Nevada, on November 5
George Russell drives during a demonstration along the Las Vegas Strip at a launch party for the Formula One Las Vegas Grand Prix, Saturday, November 5, 2022
‘They are trying to limit people’s ability to capitalize on the race.’
VIP packages for the race are already well into the seven-figure range.
In December, Caesars Entertainment revealed its ‘Emperor Package,’ which costs a whopping $5 million.
The package includes: a dozen Paddock Club passes throughout race week, tickets to see Adele in concert at Caesars Palace, five nights in a 4,700-square-foot terrace suite overlooking the racetrack, around-the-clock butler service, use of a chauffeur-driven Rolls-Royce, and a private meal with Michelin-starred chef Nobu Matsuhisa.
There will be a VIP host to coordinate everything for the Emperor Package guests, including nights at the OMNIA Nightclub and the Qua Baths & Spa at Caesars Palace.
The Villa also includes an outdoor Zen Garden with a Japanese onsen tub, a billiards table, full bar, outdoor kitchen, as well as a sauna and private spa treatment room, not to mention a private elevator.
The extravagant vacation is five times more expensive than a similar offering Wynn Las Vegas unveiled in November, and potentially costlier packages could be in store for Las Vegas in 2024, when the city hosts its first Super Bowl.
A general view as the car of Sergio Perez of Mexico and Red Bull is moved into position during the Formula 1 Las Vegas Grand Prix 2023 launch party on November 5
Adele is shown on opening night of ‘Weekends With Adele’ at the Colosseum at Caesars Palace on November 18 in Las Vegas. Those spending $5 million on the Emperor Package will get two tickets to see her sold-out show
Chef Nobu Matsuhisa serves sake during the grand opening celebration of Nobu at Paris Las Vegas on April 27 in Las Vegas, where lucky Emperor Package guests will get a private meal
The race in Vegas is expected to be the most expensive sporting event on Formula One’s agenda next year. The price starts at $500 for a three-day general admission pass. Those seats were only added after fans complained that hotels planned to purchase massive ticket blocks and repackage them into entertainment experiences ranging from $100,000 to $1 million.
Ahead of tickets first going on sale in November, seats in the grandstands started at $2,500.
The 3.8-mile race will include several of Vegas’ many landmarks, including the Bellagio fountains, Mandalay Bay, Caesars Palace, and the new ball-shaped MSG Sphere.
The race in Vegas is expected to be the most expensive sporting event on Formula One’s agenda next year. The price starts at $500 for a three-day general admission pass. Those seats were only added after fans complained that hotels planned to purchase massive ticket blocks and repackage them into entertainment experiences ranging from $100,000 to $1 million.
Ahead of tickets first going on sale in November, seats in the grandstands started at $2,500.
