MGM Resorts Intl Sells Out 3,600 Luxury F1 Race Tix At $12,500 Per Ticket At Bellagio Club, Generating $45 Million For Three-Day Deal
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By Alan Snel, LVSportsBiz.com Publisher-Writer
LAS VEGAS, Nevada — It might be a pain to get around the Strip with the F1 Las Vegas Grand Prix set to zoom into Vegas Nov. 21 to 23, with the race on Saturday night.
But there’s money to be made.
And MGM Resorts International is eager to cash in on the international big spenders and tourists who F1 boosters say spend more money in Las Vegas than the typical visitor.
MGM Resorts has rolled out its Bellagio Fountain Club on the 3.8-mile track along the straightaway on the Strip in front of the famed Bellagio fountains.
MGM Resorts sold out its 3,600 tickets at $12, 500 each. Do the math — that’s $45 million. It’s good for all three days of the race event and you get free food and beverages.
LVSportsBiz.com interviewed Andrew Lanzino, MGM Resorts International’s vice president of citywide events strategy, about the high-end F1 ticket deal at the Bellagio trackside club. Take a listen:
MGM Resorts crowed about the food thanks to chefs like Mario Carbone, David Chang, Alain Ducasse, Masaharu Morimoto and Jean-Georges Vongerichten.
Dubbed the “Bellagio Fountain Club,” the luxury experience venue will feature pop-up performances from Las Vegas signature entertainers, plus an open bar crafted by master sommeliers and award-winning mixologists.
The Las Vegas F1 race is a high-end sports experience.
In 2023, the average Las Vegas Grand Prix ticket was the most expensive on the F1 circuit while Formula One absorbed a black eye in Year 1 in Las Vegas for the traffic jams, lost revenues by local businesses in the Strip corridor and long commutes by Strip area workers.
The F1 race-created problems in the Strip corridor prompted Clark County Commission Chairman Tick Segerblom to say recently on a local news program the county needs to take a hard look at the race event to determine whether any benefits are worth the aggravation to workers, local businesses and residents.
The F1 race triggered four lawsuits from local businesses that claimed they lost millions of dollars in revenues because of the race. The legal action also alleged Clark County fast-tracked the Las Vegas Grand Prix permit applications and improperly processed the approvals.
In Year 2 in 2024, there is no road paving so the F1 race road plan is 17 weeks of closed lanes, traffic interruptions and gear installment/takedown, or about four months.
It should be noted Formula One refused to issue an event credential to LVSportsBiz.com, but we will continue reporting on this controversial race event this week.
