Caesars Entertainment extends Las Vegas Grand Prix partnership
The operator has renewed the deal through 2030.
US.- Caesars Entertainment has extended its agreement with Formula 1 Heineken Las Vegas Grand Prix, continuing its role as a Founding Partner through 2030.
The deal includes Caesars Palace Viewing Experience, a closed-circuit viewing party along the Las Vegas Strip Circuit, the Trackside Lunch with celebrity chef Gordon Ramsay, the GIADA Viewing Experience at The Cromwell overlooking the main straight and the Caramella Terrace Viewing Experience at Planet Hollywood Resort & Casino.
The announcement comes as the company renovates Caesars Palace on The Strip. From now until 2027, the resort is undergoing an extensive upgrade to its tower. Enhancements include Colosseum Presidential Villas, Octavius Sky Villas, which offer views of The Strip, and the OMNIA Dayclub. The Augustus Tower will be renovated as will the VIP Check-in Lounge, the Julius Tower, and the Palace Tower.
Sean McBurney, chief commercial officer and regional president of Caesars Entertainment, said: “Just like our renewed commitment to the Las Vegas Grand Prix through this partnership extension, we’re renewing our commitment to our guests with an all-new Caesars Palace. We’re confident our new room product and best-in-class amenities will complement all the racing action and beyond.”
Emily Prazer, president and CEO of Las Vegas Grand Prix, added: “With its close proximity to the circuit and presence on The Strip, Caesars Entertainment has been a pivotal partner in bringing the Las Vegas Grand Prix to life and delivering standout experiences for our fans. As a prominent leader in the market, we have often looked to Caesars Entertainment as a strategic guide on how best to integrate hospitality and entertainment into the excitement of Formula 1.”
Caesars Entertainment’s operating results for the third quarter ended September 30 show that net revenue totalled $2.87bn, down 0.1 per cent from the same period in 2024. The company posted a net loss of $55m, compared with a $9m loss in the same prior-year period. Adjusted EBITDA was $884m, down 11 per cent year-on-year. Caesars Digital reported adjusted EBITDA of $28m compared with $52m in Q3 2024.
