F1 to promote Las Vegas with new sponsor

Every year, new partnerships emerge in the world of motor sports. Sometimes, these partnerships are committed to several Grand Prix races, as is the case with the Rolex brand. Or, partnerships are also associated with one or more specific cities, as is the case with the Las Vegas Convention and Visitors Authority, which will join the official partners for a few races.

The LVCVA will have the opportunity to promote the city within the Las Vegas circuit, with a contract of several million euros.

An economic partner

The LVCVA, besides being a tourist agency for the state of Nevada, is especially linked to Formula 1 since the first Grand Prix in Las Vegas last year. The company had notably financed the sports event in 2023 which turned out to be one of the most profitable in the history of Las Vegas. With over a billion in profits, and 145,000 visitors on-site, the Las Vegas Grand Prix had a strong economic impact on both the city and the competition.

The event that has been heavily covered in the world has allowed the American city to arouse fans’ curiosity about the location. In order to showcase the city, the company is therefore partnering with the giant of motorsport. The aim is to invite visitors to discover the shows and craziness of Las Vegas while offering benefits to the city.

This partnership, which will extend until the end of 2025, will allow the LVCVA to leverage the platform that is Formula 1 to maintain tourism in Las Vegas. At the same time, the LVCVA will continue to organize events with fans at several Grand Prix races, including the one in Las Vegas. For the promotion of its business, the LVCVA will spend several million euros on all the Grand Prix races, which will go directly to Formula 1. A good way for the city to secure its place on the calendar.

Formula 1 indirectly promotes itself

However, this partnership will not only benefit Nevada. While it is clear that monetary costs are at the heart of this collaboration, Formula 1 will also promote itself in the city. Las Vegas has been positioning itself as the venue for major sporting events for several years now. While many disciplines already take place on American soil, Formula 1 only entered the territory of Nevada last year. A rare event that had been one of the most watched on television channels.

Through the tourism office, Formula 1 will promote its discipline on American soil. It is not new for fans that the organization wants to expand into one of the biggest economic powers. With already 2 Grand Prix races on American soil in Austin and Miami, this third Grand Prix allows gaining more influence internationally. The increasing importance of the format in the country also helps to attract more powerful sponsors. This collaboration, therefore, allows both to make money, offer more economic power to Las Vegas, and secure a place in the American territory alongside major sporting events.

Also note that the LVCVA is already a partner of the Las Vegas Grand Prix, directed by Liberty Media, who is also in charge of Formula 1. With an existing collaboration, the company also has a say in what is implemented on the circuit. If Formula 1 wants to have more freedom, there is a good chance that this could be achieved through the LVCVA. Residents and nearby businesses had already complained about the presence of the circuit in the city, leading to a possibility of saying goodbye to the race in Las Vegas. With this contract, Formula 1 ensures its place.

Emily Prazer, commercial director of Formula 1 and the Las Vegas Grand Prix, also wanted to comment on this new partnership. “We are constantly looking for unique and exciting ways to showcase the destinations where we race and to demonstrate the value that our sport brings in terms of economic, cultural, and community impact,” she said. “The LVCVA has played a key role in bringing Formula 1 to Las Vegas, and we are delighted to strengthen our relationship to continue positioning Las Vegas as the global capital of sports and entertainment.”

On his part, Steve Hill, President of the LVCVA, also spoke in the press release shared by Formula 1. He expressed his enthusiasm. “We are delighted to enhance the visibility of Las Vegas by becoming an official partner of Formula 1. In recent years, Las Vegas has made huge strides in becoming the global capital of sports and entertainment,” he said. “Partnering with the world’s most prestigious motor sport organization to host the Las Vegas Grand Prix marks a major milestone in this effort. We look forward to working closely with Formula 1 and keeping Las Vegas at the forefront of the minds of millions of viewers and F1 fans worldwide.”