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Vegas hotel eying $100k (83k) packages for Grand Prix

NEWS STORY
18/08/2022

MGM is among those seeking to capitalise on F1's return to Las Vegas as most fans look likely to be priced out of the inaugural event.

Though the Miami Grand Prix was co-promoted by F1's owners, Liberty Media, the American company is basically the sole promoter in Las Vegas, indeed such is its belief in the event that it has purchased a $240m plot of land to house the pit and paddock complex, which, it was recently announced, will include a facility for all-year round entertainment.

"F1 is coming to Vegas," proclaimed MGM Resorts on Twitter earlier this week. "Experience the rush of the race and the thrill of Vegas all in one place.

"Be the first in the know on our exclusive room and ticket packages when the Formula 1 Las Vegas Grand Prix makes its debut in 2023," it advised, as it guided readers to a page where they were promised a "full-throttle racing and entertainment spectacle on the Las Vegas Strip" that they wouldn't want to miss.

"Sign up for access to exclusive room and ticket packages and adrenaline-filled experiences that nobody delivers like MGM Rewards. Be first to feel the roar!"

While the Miami grid was filled with the sort of celebrities that Liberty is clearly craving in order to give the sport 'validation', it is likely that mere mortals will be unable to even attend the Las Vegas event such are the prices being mentioned.

MGM CEO Bill Hornbuckle said earlier this month that room rates for next November's race would be three-times what is normally charged for a weekend, with estimates that ticket packages could sell for $100,000 (83,000).

Revealing that MGM is looking to pay between $20m and $25m for tickets, Hornbuckle said: "We have access to those tickets, and then the ability to charge as we want and package as we want."

Ironically, the MGM Casino was hesitant when it came to backing the race when it was first mooted, but now looks set to make a killing when it does go ahead.

If MGM is looking to buy $20m worth of tickets what of its rival casinos and hotels who will be just as keen to jump on the F1 bandwagon.

For once it appears that what happens in Vegas may, in the opinion of most fans, well and truly stay there… certainly at those prices.

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1. Posted by ChickenFarmerF1, 22/08/2022 16:49

"I've been to Vegas once. Well, OK, I drove through it on the interstate. 20+ years ago. Only stopped because of heavy traffic and never left the highway. This race, especially at those prices, will not tempt me to break my streak of not actually going to Vegas.

Now, having a race at Watkins Glen might just tempt me to go. I haven't been back to upstate NY since the mid-90's. Be fun to catch up with some folks in that area, and they're only 1.5-2 hours drive from the race track. But we probably won't see a race there because there aren't any hotels that can charge more than the average annual household gross income for a weekend stay.

I guess there must be enough people with MMTB (more money than brains - a condition to which I heartily aspire, but am unlikely to achieve) to support that kind of insanity. MGM just needs to find a mere 200 people suffering from MMTB to break even. Sadly it won't surprise me if they, and another 10 hotels, make a tidy profit off those packages.

And before anyone pines for Bernie, remember that he only didn't do a deal like this because he couldn't. If he was still the owner of F1, and if he had the energy to do a deal like this, I've no doubt at all he would have. When he did things like insist on free to air TV broadcasts of the races it wasn't altruism. It was his business sense of knowing he needed to keep up the audience at a time when pay-to-view would have wrecked it that kept it on TV for the masses. "

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2. Posted by Paulinho, 20/08/2022 9:42

"Any idea on what the support races will be ? :D "

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3. Posted by LiamIII, 19/08/2022 14:01

"Max, I as thinking a similar thing. Maybe a breakfast with Fangio, Moss and Schumacher. Then we all get to experience up close a legends race with proper F1 cars. Top it off with front row seats to the Beatles reunion show of Sgt. Peppers in full costume. "

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4. Posted by kenji, 19/08/2022 11:47

"@Mad Matt....Yes, I agree with your point regarding 'race tracking/prod values' but that is small price for the overall race. The start and the first few corners are usually great stuff and remind me a bit of Spa. Looking forward to it...as usual.
"

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5. Posted by Mad Matt, 19/08/2022 9:17

"Hmm, actually @kenji has got a point, COTA is a good track, one of the few newly introduced tracks which I like.

The only real problem is wading through all the dross surrounding it and coping when the director cuts away just as there's a change at the front so we can see some celebrity no-one has ever heard of!"

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6. Posted by kenji, 19/08/2022 3:09

"I will definitely watch the first race in it's entirety in full expectation that it will be a shocker...like the first two years of COTA! Could it be any worse? Keep in mind that COTA has one of the best tracks of the season and that alone makes it a must watch race. My rejection of early COTA is based on the 'schmalz' that it was wrapped in, not the actual race itself. I am also not expecting the Vegas race to be anything special either but until its been run then this is all conjecture.....open mind, closed pocket!!!"

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7. Posted by Apexing, 18/08/2022 20:48

"Crazy to think that I could stay home, buy a massive pile of illegal substances, watch the race from my living room and comparatively save money. I'll pass, thanks.
I'm not a fan of Vegas anyway - they don't put up those pretty buildings with all the shiny lights because they're giving money away..."

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8. Posted by Bill Hopgood, 18/08/2022 20:07

"I'll take two, wait, sorry, I thought they were $100 each. My mistake."

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9. Posted by BrightonCorgi, 18/08/2022 15:03

"What a joke of a weekend it will be. Not so many die-hard fans will go to Vegas when Texas and Mexico are more affordable and probably more fun."

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10. Posted by Anthony, 18/08/2022 14:49

"Another reason (as if I needed one!) to give this event a miss……"

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11. Posted by Roli, 18/08/2022 12:07

"Id rather watch reruns of Neighbours.....Its no longer F1 but a DisneyWorld event for the kids. Keep it !"

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12. Posted by Max Noble, 18/08/2022 11:33

"I’d expect the certified reincarnation of Elvis to sing me to sleep, Cher to bring me breakfast, and the guys from “The Hangover” to party with me that night for that ticket price. Actually a double header Beatles and Led Zeppelin for the second night should also be included. Did I mention all food and drinks? Oh, and at some point a view of the track… "

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13. Posted by Greg, 18/08/2022 9:38

"Definitely anon show for me at any price"

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