Las Vegas to host Formula One until 2037

Las Vegas will continue to host a Formula One Grand Prix until at least 2037 after agreeing a 10-year contract extension, all parties announced on Thursday.

The floodlit Saturday night race, which features drivers racing along the Nevada city's famed Strip at more than 200mph/320kph, is one of three U.S. rounds on the F1 calendar -- with Austin and Miami -- and first hosted a grand prix in 2023.

Austin, Texas, has a contract to 2034 and Miami until 2041. 

"We are thrilled that Formula One will continue racing in Las Vegas for many years to come," said the Liberty Media-owned sport's chief executive Stefano Domenicali in a statement ahead of the weekend's Monaco Grand Prix.

"Since its debut in 2023, the event has been extraordinary, rapidly establishing itself as a premier destination for great racing, world-class entertainment, global business leaders, A-list celebrities and influencers.

"We always believed that Las Vegas would become a cornerstone of our presence in the United States and this extension, together with the success of recent years, reinforces our long-term commitment to this important market."

Formula One said the grand prix had delivered $3.2 billion in cumulative economic impact for Southern Nevada since its debut, with all three races to date sold out. Last year's three-day attendance was officially 300,000.

Last year the race generated $43 million in state and local tax revenue, as well as contributing more than $2 million to nonprofit organisations.

"Securing a 10-year extension through 2037 is a defining moment for the Las Vegas Grand Prix and a reflection of the strength of our local partnerships," said Las Vegas Grand Prix president and CEO Emily Prazer.

Las Vegas Grand Prix Inc, Clark County officials and the Las Vegas Convention and Visitors Authority (LVCVA) have all committed to the race's long-term future.   

LVCVA president Steve Hill hailed a "major moment" for both the race and city.

"As the spotlight of the world turns to Las Vegas, the event continues to reinforce our evolution as a premier sports and entertainment destination," he said.