• Loading stock data...
Friday, September 12, 2025
Tuned In is Almost Sold Out! Limited Tickets Remain!

MGM to Offer F1 Las Vegas Grand Prix Packages at $100K

  • MGM Resorts is offering packages for the Formula 1 Las Vegas Grand Prix for $100,000.
  • Hotel room rates could triple for the event.
Formula-1
F1

Formula 1’s return to Las Vegas presents a huge opportunity for hotels and casinos — and MGM Resorts is betting big on the event.

A founding partner of the race along with Caesars Entertainment and Wynn Las Vegas, MGM has access to tickets for the November 2023 race.

CEO Bill Hornbuckle told investors on an earnings call earlier this month that the company plans to purchase $20 million to $25 million in tickets, then “charge as we want and package as we want.”

  • Hornbuckle said there are F1 packages that retail for $100,000.
  • Hotel rooms are expected to cost triple their normal price.

MGM has benefited from Las Vegas’ emergence as a sports destination: The company offers packages of over $3,000 per person for Las Vegas Raiders games, with price fluctuations based on the opponent.

Hornbuckle also noted that the city will host Sweet 16 and Elite Eight games in the 2023 NCAA Tournament, as well as the 2024 Super Bowl.

Bounceback Quarter

MGM took in $3.3 billion in the second quarter, a 44% year-over-year increase and just above the $3.2 billion the company earned in Q2 2019.

The company took a $71.2 million loss on its 50% share of BetMGM, its sports betting venture co-owned 50-50 with Entain. MGM expects to contribute $225 million to BetMGM this year, and is interested in owning a greater share, though Hornbuckle noted, “You can’t buy what’s not for sale.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Dexter Fowler Wants to Change the Narrative on Athlete Ownership

The former MLB All-Star owns a stake in Premier League team Bournemouth.

WNBA Playoff Teams Highlight Gaps in League Ownership

Only two of the five independent teams qualified for the postseason.

F1’s McLaren Valued at More Than $5B After Recent Stake Sale

MSP Capital purchased its stake in McLaren in 2020.
Michael Jordan

Texts From Michael Jordan, NASCAR Bosses Aired Out in Court: ‘I Have..

Jordan said he plans on “going down with fire” against NASCAR.

Featured Today

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.
September 10, 2025

ESPN’s ‘MNF’ Ratings Up 8% As NFL Surges to Strong Start

ESPN posts its second-best Week 1 “Monday Night Football” audience.
Sep 7, 2025; Orchard Park, New York, USA; Buffalo Bills fans react during the fourth quarter against the Baltimore Ravens at Highmark Stadium.
September 9, 2025

As Bills Ascend, Their Next Frontier Lies in Canada

Buffalo and the powerful Canadian entity MLSE come together in a new pact.
opinion
September 9, 2025

The Good, The Bad, and The Ugly from NFL’s Week 1 Broadcasts

Many viewers decried the addition of ads to “NFL RedZone.”
Jun 13, 2018; Moscow, Russia; A general view of a beer stand inside of Luschniki Stadium one day prior to the start of the FIFA World Cup 2018.

Saudi Arabia Says No Alcohol at 2034 World Cup

Saudi Arabia won’t allow alcohol anywhere during the 2034 World Cup.
Paralympics Tiktok
August 25, 2024

The Wildly Successful Paralympics TikTok Account Isn’t What You Think

A cheeky TikTok account is opening the world of Paralympic sports.
January 13, 2025

Gavin Newsom Reveals Status of 2028 Olympics As Los Angeles Wildfires Roar

Gavin Newsom says there’s a “Marshall Plan” to rebuild Los Angeles.
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
August 11, 2024

Passing of the Torch: Los Angeles Set for Olympic Firsts in 2028

The city last hosted the Summer Olympics in 1984.
August 1, 2024

Saudi Arabia Submits Bold World Cup Bid That Includes a Cliffside Arena

The Saudis are proposing a new stadium in a futuristic city called Neom.
John John Florence (USA) surfs in men’s round two competition during the Tokyo 2020 Olympic Summer Games at Tsurigasaki Surfing Beach.
July 29, 2024

Olympic Surfers Won’t Get Their Full Paris Moment

‘We’re kind of separate off on our own little thing over here.’
Teahupo'o Tahiti Surfing
July 26, 2024

Olympic Surfing Crashes on Tahiti Like a Wave

For Teahupo‘o’s locals, the Olympics are a mixed blessing.