F1 dismiss "casino whale" prices for Las Vegas Grand Prix

Las Vegas due to join F1 calendar in 2023 — Photo: © LAT Images

Las Vegas Grand Prix

F1 dismiss "casino whale" prices for Las Vegas Grand Prix

Concerns have been raised about extortionate Strip cost

Ian Parkes

Sunday 6 November 2022 11:00

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F1 has dismissed concerns regular fans will be priced out of the market for next year's highly anticipated Las Vegas Grand Prix.

The first wave of tickets went on sale this week, starting from as low as $500 for a standing section, through to $10,000 for a Skybox Hospitality pass near the paddock.

With a launch party taking place this weekend to herald the fact the event is just over a year away, a number of casino resorts have yet to reveal prices for their own viewing zones.

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It is known, however, MGM Resorts International is poised to create ticket and hotel packages worth a staggering $100,000.

Despite the staggering price tag, Las Vegas Grand Prix chief commercial officer Emily Prazer is unconcerned.

“The perception of the $100,000 statement is probably based on the ultimate F1 race experience that may be put together for casino whales that are willing to come in and lose millions of dollars that weekend,” said Prazer, speaking to this writer in an article for The New York Times.

A deluxe king-bed room at Caesars Palace, however, is currently on sale for over $5,000 for three nights, meaning some fans could be forking out $7,000 for just a standard grandstand ticket and hotel room.

“The thing about Vegas is you’ve got the really low end and really high end,” added Prazer. “There is something for everybody.

"And there are 150,000 hotel rooms versus Singapore, where there are materially less, and all in the place where the race location actually is.

"I’m not as worried about that as I think some are.”

For the first time, F1 is promoting the event and selling tickets, adding to the pressure on Prazer to deliver.

“F1 has not sold tickets before, it has not promoted an event before," said Prazer.

“It’s meeting the expectation because this event is being positioned in a certain way, not just by F1, but the media.

“The level of expectation on what we are delivering needs to happen, so my biggest stress is making sure we do that.”