F1 Las Vegas Race 2023 set to be a sponsor’s dream

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The 2023 Formula 1 race schedule has been released, and if you scroll to the penultimate Grand Prix of the season, you’ll see that on 18 November F1 is set to roll into Las Vegas. 

F1 in Sin City

Vegas is the newest addition tot he F1 calendar and it’s going to be an exciting occasion for so-called ‘Sin City’, which is already  planning to make the event a true spectacle.

So sponsorship agreements are going to be crucial in ensuring the race weekend lives up to expectations.

Recent reports have suggested that next season, and the two after in 2024 and 2025, will give Las Vegas the opportunity to show the Formula 1 universe what it’s been missing. 

Image-by-lindsayascott-of-Pixabay
Sin City: F! is coming to Las Vegas in 2023.

And, if the initial three years go well, the agreement will likely be extended, and race weekend landing in the city will become a permanent fixture. 

But again, it’s all about whether the race and everything with it lives up to its incredible billing.

As mentioned above, sponsorships are going to be crucial, which is very much par for the course in Formula 1. 

McLaren and Entain

For example, teams such as McLaren benefit from their sponsorship arrangement with Entain.

The company has several established brands, with PartyCasino arguably being the most recognised. 

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Pole position: McLaren sponsor Entain is looking forward to Las Vegas F1. Pic: Entain.

It’s highly likely that now the new Formula 1 schedule is out, and with Las Vegas scheduled for 18 November, teams and drivers could attract even more lucrative sponsorships and brand deals than ever before.

There has also been a multi-million dollar sponsorship agreement already signed off for the races in Las Vegas. 

The Las Vegas Convention and Visitors Authority, also known as the LVCVA, has committed to spending an enormous $19.5 million by sponsoring the races that will take place in the city. 

The agreement was sent to Liberty Dice Inc., which owns and operates the races, with the contracts officially signed.

The $19.5 million from the Las Vegas Convention and Visitors Authority will be spread across the initial three years the city will host the Formula 1, so it works out at a $6.5 million cash injection per season. 

It will naturally be a mutually beneficial arrangement as the LVCVA will be able to use the races to promote local businesses, events and the area itself during race weekend.

Steve Hill, the CEO of the LVCVA, said: “Formula 1 is such a phenomenon at this point. We think it’s going to be in Las Vegas permanently. 

“Matching the brand of Formula 1 with Las Vegas is unbeatable, and those first three years are going to show it.”

The Las Vegas Strip will be the home of the race weekend when Formula 1 checks into Sin City. 

The race itself will be around the iconic Strip, covering a distance of 3.8 miles, taking in some of Las Vegas’s most iconic hotel resorts and casinos. It’s one of the reasons why so many sponsors are keen to get on board, as this Grand Prix promises to be a spectacle like no other.