The post Las Vegas Tourism Authority Commits $20m to Sponsor Next Two F1 Grand Prix Races appeared first on Vegas Slots Online News.
Many Las Vegas locals won’t be happy to hear that Formula 1 (F1) will be extending its stay in the city for at least another two years. The weeks leading up to the next renewal are usually plagued by traffic disruption as organizers erect grandstands and get the track up to scratch.
upping its annual sponsorship spend on the Grand Prix from $6.5m to $10m
The third and final race of the initial contract will take place in November, with renditions now in the books for both the 2026 and 2027 seasons. The Las Vegas Convention and Visitors Authority (LVCVA) welcomed the news by announcing it is upping its annual sponsorship spend on the Grand Prix from $6.5m to $10m.
Some people on social media questioned why more taxpayer money is going toward sponsoring the race. Others pointed out the financial benefits of the race to the city each year – the economic impact in the first two years was estimated to be $1.5bn and $934m, respectively.
The post Las Vegas Tourism Authority Commits $20m to Sponsor Next Two F1 Grand Prix Races appeared first on Vegas Slots Online News.
