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Las Vegas execs are happy with the Formula One Grand Prix, and it appears that the race could become a staple in the United States.
While locals complained about the strip being shut down, MGM exec Bill Hornbuckle says that F1 brought in much-needed tourists during the slow season.
“If you recall, this is the second or third most-worst weekend of the year, so to be able to put this injection into the community and the city and obviously for us at MGM Resorts for what we do at the (Bellagio) Fountain Club is a real boost, and we look forward to doing this for many, many years to come,” Hornbuckle told the Las Vegas Review-Journal.
According to the Las Vegas Review-Journal, the Las Vegas Convention and Visitors Authority is currently in talks to extend the race for another 5-10 years in the city.
The LVCVA and F1 are also already in talks to extend the race further than 2027, when the new two-year deal, which kicked in after Saturday’s race, expires.
The extension being discussed would be between five and 10 years, which would keep the race in Las Vegas on the weekend before Thanksgiving through as long as 2037.
F1 officials say that a long-term deal would result in fewer disruptions to the city.
“We see the disruption; the challenge has been from the offset that when you have a short time deal it’s hard to put a lot of capital expenditure, which any business would tell you the same thing,” Prazer said. “The longer-term deal we can get from the destination, the more we can invest in infrastructure to make this easier.”
It appears that there’s momentum to get a deal done pretty soon.