Aboard Explora I in Monaco, Formula 1 revealed why its boldest modern project is only just getting started.
Monaco and Las Vegas could hardly be more different. One is built on tradition, history and exclusivity. The other thrives on reinvention, spectacle and the promise that tomorrow can always be bigger than today.
Yet on a sunny morning aboard Explora I in Port Hercule, the two destinations became closely linked. As Monaco prepared for another Grand Prix weekend, Formula 1 executives, Las Vegas stakeholders, and a select group of international media gathered on board the luxury cruise ship for an announcement that underlined just how important Las Vegas has become to the championship’s future.
The message was simple: Formula 1 is staying. The Las Vegas Grand Prix has secured a new 10-year extension that will keep the race on the calendar through 2037, guaranteeing that Formula 1 will continue racing beneath the neon lights of the Strip for more than another decade.
For a race that only debuted in 2023, the commitment is remarkable. For Formula 1, however, the decision reflects something much bigger than a successful event. Las Vegas has become one of the championship’s most important strategic markets.
From Crazy Idea to Long-Term Commitment
Speaking aboard Explora I, Formula 1 President and CEO Stefano Domenicali reflected on how ambitious the project appeared when it was first conceived.
“When we had the crazy idea to be in Vegas, there were a lot of people who were smiling inside,” Domenicali said.
“We were not smiling. We were focused on what we wanted to deliver for the future.”
Few projects in modern Formula 1 history have required the same level of investment, coordination and risk. Unlike most races on the calendar, Las Vegas is promoted directly by Formula 1 itself. The championship purchased land, constructed permanent facilities and assumed responsibilities normally handled by local promoters.
At the time, it was viewed by many as a gamble. Three races later, Formula 1 believes the gamble has paid off.
“The fact that today we’re already announcing that we’re going to be stable for such a long time means a lot to us,” Domenicali explained.
“It is a statement of how Formula 1 is putting flags in a continuous way in the U.S. market.”
That phrase – putting flags in the U.S. market – perhaps best captures Formula 1’s thinking. Las Vegas is no longer simply another Grand Prix. It has become part of Formula 1’s long-term American strategy.
More Than a Race
Throughout the discussion, one theme repeatedly emerged. Las Vegas is not being judged solely as a sporting event. For Formula 1 and local stakeholders, it has become a platform that combines sport, entertainment, tourism and business on a scale few events can match.
“We have at the centre the racing,” Domenicali stressed.
“There’s no discussion about it. But now we want to develop the platform to be more than racing.” The distinction matters.
Formula 1 executives repeatedly emphasised that the racing remains the foundation. Las Vegas has delivered on that front, producing dramatic races and memorable moments since its debut.
Yet the event’s broader appeal extends beyond what happens on track. The championship views Las Vegas as a showcase capable of attracting global business leaders, major brands, entertainment figures and new audiences to the sport.
According to Domenicali, the challenge now is to ensure the event continues to evolve.
“We don’t sit in a comfortable chair. We know we need to deliver every year something new, something more spectacular,” he said.
The Las Vegas Effect
For local officials, the benefits extend well beyond race weekend. Steve Hill, President and CEO of the Las Vegas Convention and Visitors Authority, described Formula 1 as a transformative addition to the city’s event portfolio.
“We always knew that once Formula 1 came to Las Vegas, that marriage would last,” Hill said.
“It’s great to be able to announce that now for sure.”
Las Vegas has long marketed itself as the Sports and Entertainment Capital of the World, but Hill believes Formula 1 occupies a unique position within that strategy.
“There is no greater event, and frankly, there is no more difficult event for a city to pull off than a Formula 1 street race in the middle of one of the busiest cities in the United States,” he said.
The challenge is substantial. Each year, roads must be transformed into a temporary racing circuit before being returned to everyday use. Hotels, resorts, businesses and local authorities all play a role in making the event possible.
Yet Hill argues the effort is worthwhile because of what Formula 1 brings to the city internationally.
“We leverage Formula 1 for international recognition and international interest in our city,” he explained.
“And I think we help Formula 1 leverage Las Vegas to grow the U.S. market.”
It is a relationship that appears increasingly beneficial for both sides.
Building for the Future
One of the more revealing aspects of the discussion concerned infrastructure. The extension does not simply secure race dates. It provides confidence to invest.
Emily Prazer explained that the longer-term agreement now allows organisers to think differently about the future of the event.
“It gives us the opportunity to really look at what investments we want to make from an infrastructure standpoint,” Prazer said.
Formula 1 already owns approximately 39 acres of land in Las Vegas, including the permanent pit building complex that serves as the operational heart of the event. The goal moving forward is to reduce construction time, improve efficiency and create a more permanent framework around the Grand Prix.
The challenge is particularly important because Las Vegas itself never stops. The city’s resorts, convention centres and entertainment venues remain active year-round.
“Our resort partners have significant conferences and events before and after,” Prazer explained.
“It’s not just about us.”
Making the event easier to build while reducing disruption has become a major priority. The extension provides the certainty required to make those investments worthwhile.
Being Unapologetically Las Vegas
Perhaps the most revealing moment of the conversation came when Prazer was asked what fans can expect from the next decade of the event. Her answer captured exactly why Las Vegas has become such a distinctive race.
“The partnership with the LVCVA and the resorts allows us to be unapologetically Las Vegas,” she said.
That philosophy has defined the event from the beginning. Whether through headline entertainment acts, large-scale fan activations, ambitious hospitality experiences or record-breaking drone displays, Las Vegas has embraced the idea that Formula 1 can be both elite motorsport and major entertainment spectacle.
The announcement itself served as an example. The evening before the panel discussion, Formula 1 staged Europe’s largest-ever drone show above Monaco’s Port Hercule, using more than 3,000 drones to celebrate both the Monaco Grand Prix and the Las Vegas extension.
It was a striking reminder that Formula 1 increasingly sees itself as an entertainment platform as much as a sporting championship. Yet Prazer was equally clear that creativity must remain purposeful.
“We’ve been able to be bold, but also strategic,” she said.
Racing Still Comes First
For all the discussion around entertainment, sponsorship and spectacle, Formula 1’s leadership remains conscious of one important reality. The racing must remain at the centre.
Domenicali repeatedly returned to that point during the discussion.
“Racing is racing. We start from racing,” he said.
It is a message Formula 1 continues to emphasise as it expands globally. The objective is not to replace the sport with entertainment. The objective is to use entertainment to elevate the sport.
That distinction explains why Formula 1 is also investing in grassroots motorsport activity around Las Vegas, including karting initiatives and support programmes designed to strengthen motorsport culture in the United States.
“We want to use this opportunity to develop the motorsport culture at all levels in the U.S.,” Domenicali said.
A Defining Partnership
As the session concluded aboard Explora I, the atmosphere felt notably different from the uncertainty that surrounded the event before its inaugural edition in 2023. The debate is no longer whether Las Vegas belongs on the Formula 1 calendar. That question appears settled. Instead, attention has shifted toward how much bigger the event can become.
For Formula 1, the extension represents validation of one of the boldest decisions in the sport’s modern history. For Las Vegas, it secures another decade as a global sporting destination.
And for those gathered in Monaco to hear the announcement firsthand, the message was clear. Las Vegas was once Formula 1’s boldest experiment. Today, it is one of its most important commitments.
