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By Alan Snel, LVSportsBiz.com Publisher-Writer
LAS VEGAS, Nevada — The Las Vegas Grand Prix has a new executive leader.
Emily Prazer was promoted to the LVGP president and CEO position after working as the Formula 1 race event’s chief commercial officer. Prazer is from the UK and has experience in corporate partnerships and sponsorships.
Prazer succeeds Renee Wilm, who cut the deal with LVCVA public tourism agency CEO Steve Hill to have the F1 race on a 3.8-mile circuit in the Strip corridor. The Nov. 20-22 LVGP event is now in its third year.
The Las Vegas Grand Prix needs Clark County approval to continue after 2025 staging its controversial street race event that was criticized by race site opponents as disrupting commerce and causing traffic problems in the Strip corridor, causing some businesses to lose money from the race’s barriers and fencing that limit customer access. Opponents are not against the grand prix event in Las Vegas. They want it in a different location like Las Vegas Motor Speedway.
The LVGP triggered four lawsuits from businesses that claimed in the legal action they lost millions of dollars in revenues because the race course kept customers away.
The lawsuits also claimed Clark County fast-tracked the LVGP applications and cut corners on LVGP application reviews. Ellis Island hotel casino was one of the four businesses to sue F1 and Clark County.
Wilm is now the chief legal and administrative officer for F1’s parent company, Liberty Media Corporation in Centennial, Colorado, a Denver suburb. If Wilm is handling legal topics for F1, she might be handling those Las Vegas-based lawsuits that were filed when she was the LVGP president at the time.
The F1 race generated more revenues than usual for high-end hotel properties on the race course like Bellagio and Wynn, but some small businesses and restaurants say the race event cost them revenues. Other hotels and casinos not on the race circuit also reported they did not see economic net gains from the LVGP race event.
The Las Vegas Grand Prix hired Jeremy Aguero’s Applied Analysis to conduct an economic spending report on the race. (Applied Analysis is also hired by the LVCVA and Aguero is a close friend of LVCVA chief Hill.)
Aguero’s report said the “economic impact” for the 2024 race was more than $900 million, but economic professors from around the country said Aguero’s reports are flawed because they add up an event’s spending but overlook all the businesses losses and displacements associated with big sports events.
The Las Vegas Grand Prix sent information to fans about prices at the 2025 race in Vegas.
Single-day tickets start at $50 and three-day tickets start at $400 for general admission in the Flamingo Zone. Card Members of American Express, which has a sponsorship deal with F1 in the Americas, can access an exclusive 48-hour presale for all three-day tickets starting April 2 at 10AM PT.
Nevada residents will receive 24-hour priority access to be the first to purchase single-day Flamingo General Admission tickets, plus three-day Flamingo General Admission tickets, beginning April 8 at 10AM PT. To access, local fans must purchase tickets via Ticketmaster using a credit or debit card linked to a Nevada billing address.
“Our goal has always been to create a world-class event for every fan, and that commitment is stronger than ever in 2025,” Prazer said in the press release.
The inaugural Las Vegas Grand Prix was criticized for its high ticket prices. But in Year 2 in 2024, the LVGP sold tickets that were lower in price and tried to establish relations with Las Vegas locals by handing out free race tickets and school supplies to kids. The race also staged a fan fest.