Dec.16 (GMM) The general public will not play a massive role in the inaugural Las Vegas GP next November.
Formula 1 CEO Stefano Domenicali has already warned that tickets will be unprecedentedly expensive for the event that will include a run down the fabled ‘Strip’.
The sport’s owners, Liberty Media, have spent a reported quarter of a billion dollars on buying actual land for the event – with Wynn Resorts said to be offering an all-access ticket package for $1 million a pop.
MGM, meanwhile, is spending about $25 million on tickets for special hotel-race packages for guests and plans to build its own grandstand, according to Sports Business Journal.
As for the public, only three-day tickets are available – starting at a minimum of $500 but rising to an eye-watering $8,000 for hospitality packages.
Las Vegas GP CEO Renee Wilm, who is also a Liberty Media executive, confirms that “not a massive amount of tickets” are being made available to fans because “we are so heavily pre-subscribed”.
Tom Reeg, CEO of casino company Caesars Entertainment, said: “The demand for that particular event is well beyond what we were expecting and you saw as we rolled out rates, the pricing reflects that.”