https://www.cnn.com/2023/11/09/business/las-vegas-f1-ticket-prices/index.html Ticket prices are plunging ahead of Formula 1’s next race set on the Las Vegas Strip
CNN? I trust the local newspaper a bit more with accuracy. “I’ve heard on a couple of our competitors’ calls commentary around expectations coming down within the market,” Billings said. “I will tell you that our expectations for F1 haven’t changed one bit because, as you rightly pointed out, we knew that it was our customer base that would be at that event from the beginning. “We have more front money and credit lined up for this event than any event in the history of Wynn Las Vegas,” he said, “and we’ve had some doozies before. So this is shaping up to be a great event for us. We’re incredibly excited. We’re not talking (specific details) about (cash flow) uplift. But it’s going to be good.” Gullbrants, a member of the Las Vegas Convention and Visitors Authority board of directors which helped bring the race to Las Vegas, added that revenue records could fall. “I’d say F1’s really coming in nicely right now for all areas of our business,” he said. “We should exceed actually our all-time hotel revenue as well, our hotel revenue record by about 50 percent for the three-day period. And as Craig mentioned, the gaming revenue and credits are looking quite promising, some of the best we’ve ever seen. So I think we’re looking forward to an exciting and exceptional race week here. We barely even put any rooms on public sale. I mean, we’ve had robust demand.” Image Unavailable, Please Login
Yeah, Las Vegas will do fine over the F1 weekend. It's world class entertainment. Who does world class entertainment better than Vegas? Duh.
Idiots giving bad actors ideas... they need to provide adequate security and get on with their jobs. The clark county guy calling it a security nightmare is probably pissed he has to work at midnight. Lots of locals are not happy F1 is turning their town into a bigger circus than usual.
There are two groups making posts: 1) Its going to be a huge financial disaster! 2) Its going to be so crowded no one can get around and the resort prices are crazy! Which is it?
It think it will work out. The facilities seem cool, it's Vegas, maybe the track isn't awesome, but overall seems like a fun idea. Prices will probably go down over time and the start time could be pulled back a couple of hours. But I say it will be a win for Vegas and Liberty Media. The house usually wins.
Three things can all be true at the same time: 1) the pricing is ridiculous for this thing 2) it's going to look amazing on TV 3) it's going to be incredible to be at the inaugural event I'm actually looking forward to watching it on F1TV after I get back from the race.
The Trophy is revealed. Not sure I understand it though.... https://news3lv.com/news/local/f1-reveals-first-look-at-las-vegas-grand-prix-trophy
there is clearly something interesting going on with the market. My gut is if sold your rooms early you did outstanding. If not you might be in a bit of a challenging position. My personal data point is I have continued to lower my online price of my extra Harmon grandstand tickets all the way down to about 50% of cost - no takers. Yesterday my wife even said she will stay home. Seems the closer we get the more people are buying the negation press and saying no thanks. The reasons I have personally experienced- boring season, season over, going to be a circus, cold, and then pricing—-everything from Ubers on is going to make ordering hand painted shields on your new Ferrari look like a bargain. The good news is MGM resorts sent me a email a few days ago offering to upgrade our room to a suite for a discounted rate of only $6,400 additional per night. Now that might have been the final straw for my wife. The shark jumping moment. ‘My view - how could I miss going to a third Vegas Grand Prix- it is only money, patience and a jacket (or jackets - rain also). Let the solo adventure begin! However, I'm skipping the suite upgrade and going with handpainted shields!
