Ever since the Formula One Las Vegas Grand Prix race was first announced, one of the biggest questions on everyone’s mind was just how lucrative the event could be for the local economy, given the sport’s popularity among the high-rolling and jet-setting crowd.
Companies have jumped at the chance to sponsor the race in any way, shape or form, but one indication of just how much money might be spent in mid-November is the number of high-profile restaurants around the city being rented out for private events, which rarely ever happens, even in Vegas.
The Las Vegas Review-Journal recently asked a number of venues about their plans for the dates of the event—November 16-18—with many indicating that they either had or are currently having those discussions.
Giada at the Cromwell has been reserved for both November 17, the night before the race, and November 18, the night of.
Gordon Ramsay Hell’s Kitchen at Caesars Palace did not disclose details, but Ramsay did say in a previous interview with the Review-Journal that he was planning to organize an event for the race.
Buddy V’s Ristorante at the Venetian has not decided on its plans, but has received and continues to receive numerous buyout requests, per owner Elizabeth Blau.
Mon Ami Gabi at Paris Las Vegas has not accepted any offers, and might arrange its own event, per the Review-Journal.
Eiffel Tower at Paris Las Vegas, which is run by the same parent company as Mon Ami, has in fact been rented out.
Brezza at Resorts World has not been reserved, but officials told the Review-Journal that such a proposition would likely exceed $100,000.
And finally, Ocean Prime at 63, which is not even open yet, has been rented out for all three days.
According to the newspaper, there are about two dozen properties with Strip views of the racetrack, but only the venues listed above responded. A number of industry analysts believe that most venues are hesitant to commit to a price right now in the event that they can charge more closer to the race.
Some may even back out of their existing deals before the race takes place if they feel a ticketed party would be more lucrative.
Even the race organizers are not entirely sure as to how the process will eventually shake out—Joslyn Garcia, director of communications for the race, told the Review-Journal that “there is really nothing to share on the F&B programming/experience at this time as most of that is getting flushed (sic) out.”
