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yesterday

Las Vegas Approves F1 Extension to Offset Steep Drop in Canadian Visitors

Officials blame trade policies, currency shifts for flat international arrivals despite extending the F1 Grand Prix through 2027.

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Overview

  • The LVCVA board has approved a $20 million sponsorship to extend the Formula One Las Vegas Grand Prix through 2027 as a strategy to attract more visitors.
  • LVCVA president Steve Hill attributes flat overall international arrivals and more than a 20 percent decline in Canadian tourism to recent U.S. trade measures.
  • Passenger traffic at Harry Reid International Airport is down about 4.1 percent year-to-date compared with the same period last year.
  • Industry leaders such as Circa Resort & Casino CEO Derek Stevens blame broader economic pressures and unfavorable exchange rates but anticipate a rebound following finalization of trade agreements.
  • Local casino and restaurant employees report noticeably lower foot traffic while commentators warn that younger patrons’ shift to online betting could dampen recovery.