Formula One Las Vegas Grand Prix promises more affordable tickets

Las Vegas Grand Prix officials plan to offer more affordable tickets for this year’s race and work to incorporate resorts that didn’t benefit as much as those within the race’s circuit during last year’s inaugural event.

Fans will notice a significantly higher number of general admission tickets available for the 2024 race, Las Vegas Grand Prix CEO Renee Wilm said Wednesday during Formula One parent company Liberty Media’s earnings call.

“We’re actually creating a brand-new general-admission-only zone, which will have single-day tickets and will be at the lowest price points that you’ll see for the Las Vegas Grand Prix,” Wilm said.

Adding more general admission tickets and incorporating single-day tickets should tackle one of the biggest gripes — especially from locals — about the November race: the lack of affordable ticket options.

‘Actively engage downtown’

Plans also call for expanding the Grand Prix’s reach to properties outside the race’s footprint on the Las Vegas Strip. Offering more general admission tickets is also tied to working with lower-end properties on the Strip and those in downtown Las Vegas.

“We are also working in partnership with the LVCVA to actively engage downtown,” Wilm said. “Different types of activations, potentially watch parties, but really to spread this benefit of what was an incredible weekend throughout the entire valley.”

Work crews raced to ready the 3.8 mile-street circuit ahead of the inaugural race, with two rounds of repaving operations and construction of a pit building and surrounding area known as Grand Prix Plaza. All told, race officials spent north of $500 million in Las Vegas last year.

Formula One CEO Stefano Domenicali said 316,000 tickets were sold last year for the Grand Prix weekend.

Liberty Media Chairman Greg Maffei noted the projected economic impact on Southern Nevada from the race was $1.2 billion.

“The Vegas race exceeded our expectations on many levels, even though year-one costs had come in higher than we had anticipated,” Maffei said.

‘Maximize the fan experience and ensure safety’

With the infrastructure work out of the way, last year’s nine-month work schedule, set-up and tear-down included, will be compressed into three months, Grand Prix officials previously said. Security operations were a major focus during the first race; officials wanted to ensure they had more than enough staff to keep everyone safe.

Spending on transportation and security are two areas F1 will seek to trim for this year’s race. Having the set-up and one race weekend under their belts, Wilm said, F1 now has a playbook to rely on as race preparations get underway this year.

“Nobody knew just how traffic would flow, and we were hoping for the best and planning for the worst,” Wilm said.

She said it turned out significantly better than expected. “That will hopefully allow us this year to start looking for areas that we could cut back in,” she said.

Wilm said: “This year, we are looking very closely at every line item on the budget to see where we can maximize the fan experience and ensure safety, while also looking to really cut back on some of those costs.”

Race officials plan to use the Grand Prix Plaza in Las Vegas year-round, but Maffei doesn’t expect significant use of the facility this year. The Las Vegas Super Bowl Host Committee’s media party was the first corporate event hosted in the space since the inaugural race.

“We only expect a modest contribution from those in 2024,” Maffei said. “Corporate events at that site kicked off around the Super Bowl this year.”

Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.