Ticket packages for Formula 1’s new Las Vegas Grand Prix in November 2023 could cost as much as $100,000, according to Sports Business Journal.
MGM Resorts CEO Bill Hornbuckle said during a recent earnings call that the company plans to spend $20 to 25 million on motorsport event tickets to create hotel-plus-event packages for next year’s race, the Journal’s Adam Stern first reported.
Stern added that Hornbuckle alluded to MGM being able to charge what they feel is “appropriate” for packages, which is almost certain to have a high demand and means the rooms could cost up to three times their usual rate. Hornbuckle also suggested that the price of the expensive packages could retail for up to $100,000.
The Journal also reported that the Grand Prix’s resort partners — MGM Resorts, Wynn Las Vegas, and Caesars Entertainment — sent out the first email blast about the event in months and shared a new Twitter handle for the race, @F1LasVegas.
MGM Resorts shared a signup page for updates on tickets — not yet for sale — on their website, allowing those who fill out the information to get “exclusive room and ticket packages and adrenaline-filled experiences.”
The Journal had previously reported that F1 and the Las Vegas Convention & Visitors Authority had tentatively signed an agreement to hold the race and events between November 16-18, 2023. But, the 2023 schedule has yet to be released and formally confirmed.
The Grand Prix’s website showed a potential track layout where they will race “down the strip and weaving through some of the most iconic backdrops in the world.” The website touts the estimated top speed of 212 mph and a circuit length of 3.8 miles — which would entail 14 counters, three straights, and two DRS sections.
Jacob Bliss is a reporter for Breitbart News. Write to him at firstname.lastname@example.org or follow him on Twitter @JacobMBliss.