The Formula 1 World Championship is set to have a visually stunning night race in Las Vegas under the floodlights and colorful lights of the casinos on the Strip this November. However, if you are standing next to Las Vegas Strip, your view of the race may be obstructed. The commercial arm of the championship is flexing its muscles to force clubs and restaurants to pay attractive license fees to watch the race.
New York Post Office reports Liberty Media, F1’s commercial rights holder, is threatens to block the track view of roadside venues unless they pay the toll. License fees reported $1,500 multiplied by the total capacity of the fire code locations. A restaurant on the Strip capable of hosting 1,000 patrons can expect to pay a licensing fee of $1.5 million for even a little peek into the circuit.
These areas will be blocked by advertising signs or poles to illuminate the track. Reportedly, a representative working for Renee Wilm, Las Vegas Grand Prix CEO and Liberty Media’s chief legal officer, even said that headlights could target unlicensed areas to blind viewers. A casino owner speak post, “They are really disappointing people by saying they will obstruct the view unless they pay them. It seems crazy for them to ask for money for a public event going on in the street.”
While the actions of Formula 1 are not illegal, the financial burden will inevitably be shifted from clubs and restaurants to non-buyers. a race ticket costs astronomical and want to be close to the event. Notably, casinos have paid millions for official funding Grand Prix Las Vegaslike the Venetian and Wynn, no license fees are required.
