{"id":252851,"date":"2023-01-11T14:54:45","date_gmt":"2023-01-11T20:54:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=252851"},"modified":"2023-01-11T15:20:02","modified_gmt":"2023-01-11T21:20:02","slug":"f1-expecting-big-revenue-boost-from-las-vegas-grand-prix","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/","title":{"rendered":"Formula 1 Betting Las Vegas Grand Prix Can Generate $500M in Sales"},"content":{"rendered":"

Formula One Group (NASDAQ:FWONA) — the operator of the F1 racing series — is wagering its November 2023 race in Las Vegas will generate at least $500 million in revenue.<\/p>\n

\"F1
A rendering of the Las Vegas Grand Prix circuit. Formula One is hoping the race adds $500 million in revenue. (Image: Formula One)<\/figcaption><\/figure>\n

Should the series\u2019 first race in Sin City since 1982 meet sales expectations, it\u2019d likely represent a significant chunk of Formula One Group\u2019s 2023 top line, as the company posted $1.8 billion in revenue through the first nine months of 2022. It hasn\u2019t yet delivered results for the October through December period.<\/p>\n

The group derives its revenue and operating income solely from the Formula One rights. The Formula One rights provide three main sources: hosting fees from race promoters, the sale of broadcasting rights to free and pay-TV networks around the world, and sponsorship and advertising revenue for the series and individual races. These three sources generated over 82% of 2019 revenue for Formula One Group,\u201d<\/strong> wrote Morningstar senior equity analyst Neil Macker.<\/p><\/blockquote>\n

The Las Vegas Grand Prix, scheduled for Nov. 18, is one of three US races this year for the series, with the other two slated for Austin and Miami.<\/p>\n

Plenty of Revenue Opportunities in Vegas for F1<\/h2>\n

Formula One\u2019s revenue streams are primarily corporate sponsorships, fees from brokers selling race tickets, media rights, and the company\u2019s Paddock Club hospitality unit.<\/p>\n

Las Vegas offers plenty of corporate sponsorship potential for the series. While beer giant Heineken is sponsoring the race, casino operators Caesars Entertainment, MGM Resorts, and Wynn Resorts are all listed as founding partners.<\/strong><\/p>\n

\n

For the Las Vegas race, attendees can buy three-day tickets for $500, while those seeking a more elite experience can purchase five-day passes for $15,000 apiece. Casino operators are going above<\/a> and beyond those price points.<\/p>\n<\/div>\n

MGM, which reportedly bought $20 million to $25 million worth of tickets for the Las Vegas Grand Prix, is offering packages tied to the race of up to $100,000. Wynn has a $1 million F1 offering. Not to be outdone, Caesars recently unveiled a $5 million<\/a> \u201cemperor package.\u201d<\/p>\n

From owners to drivers to fans, many of whom are well-heeled celebrities, F1 is the highest of high-dollar motorsports<\/a>, indicating that those price points aren\u2019t necessarily outlandish for the Las Vegas race.<\/p>\n

Las Vegas Part of F1 Expansion Plans<\/h2>\n

In the US, NASCAR \u2013 itself a twice a year visitor to Las Vegas<\/a> \u2013 is the motorsport that commands the most attention. However, the glitz and glamor of F1 is enticing more American fans, and Las Vegas is central to the series\u2019 expansion plans.<\/p>\n

\u201cOver the past 20 years, the sport has expanded its reach further outside of its traditional stronghold of Western Europe and the U.K. by adding races in East and Central Asia, the Middle East, and Russia,\u201d <\/strong>added Morningstar\u2019s Macker.<\/p>\n

It\u2019s expected the series will expand to the maximum 25 races as soon as next year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Formula One Group (NASDAQ:FWONA) — the operator of the F1 racing series — is wagering its November 2023 race in Las Vegas will generate at least $500 million in revenue. Should the series\u2019 first race in Sin City since 1982 meet sales expectations, it\u2019d likely represent a significant chunk of Formula One Group\u2019s 2023 top […]<\/p>\n","protected":false},"author":46,"featured_media":252855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[83505,81886],"tags":[],"acf":[],"yoast_head":"\nF1 Expecting Big Revenue Boost From Las Vegas Grand Prix<\/title>\n<meta name=\"description\" content=\"Formula One Hoping F1 Las Vegas race adds $500 million in sales.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"F1 Expecting Big Revenue Boost From Las Vegas Grand Prix\" \/>\n<meta property=\"og:description\" content=\"Formula One Hoping F1 Las Vegas race adds $500 million in sales.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-11T20:54:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-11T21:20:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/F1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/\",\"url\":\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/\",\"name\":\"F1 Expecting Big Revenue Boost From Las Vegas Grand Prix\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/F1.jpg\",\"datePublished\":\"2023-01-11T20:54:45+00:00\",\"dateModified\":\"2023-01-11T21:20:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Formula One Hoping F1 Las Vegas race adds $500 million in sales.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/F1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/F1.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"A rendering of the Las Vegas Grand Prix circuit. Formula One is hoping the race adds $500 million in revenue. (Image: Formula One)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Las Vegas\",\"item\":\"https:\/\/www.casino.org\/news\/las-vegas\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Formula 1 Betting Las Vegas Grand Prix Can Generate $500M in Sales\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"F1 Expecting Big Revenue Boost From Las Vegas Grand Prix","description":"Formula One Hoping F1 Las Vegas race adds $500 million in sales.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/","og_locale":"en_US","og_type":"article","og_title":"F1 Expecting Big Revenue Boost From Las Vegas Grand Prix","og_description":"Formula One Hoping F1 Las Vegas race adds $500 million in sales.","og_url":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-01-11T20:54:45+00:00","article_modified_time":"2023-01-11T21:20:02+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/F1.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/","url":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/","name":"F1 Expecting Big Revenue Boost From Las Vegas Grand Prix","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/F1.jpg","datePublished":"2023-01-11T20:54:45+00:00","dateModified":"2023-01-11T21:20:02+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Formula One Hoping F1 Las Vegas race adds $500 million in sales.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/F1.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/F1.jpg","width":1920,"height":1080,"caption":"A rendering of the Las Vegas Grand Prix circuit. Formula One is hoping the race adds $500 million in revenue. (Image: Formula One)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/f1-expecting-big-revenue-boost-from-las-vegas-grand-prix\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Las Vegas","item":"https:\/\/www.casino.org\/news\/las-vegas\/"},{"@type":"ListItem","position":3,"name":"Formula 1 Betting Las Vegas Grand Prix Can Generate $500M in Sales"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/252851"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=252851"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/252851\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/252855"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=252851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=252851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=252851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}