The Las Vegas Grand Prix and Formula 1 have officially confirmed a deal to keep racing through 2027, although both parties want to continue beyond the current decade.

F1’s Las Vegas race debuted in 2023 on an initial three-year deal on a circuit that features a long backstraight down the city’s iconic Strip.

Clark County has already confirmed a plan for the race to take place through 2032. and the Las Vegas race appeared on the 2026 calendar released this week, although it had technically done so without a deal confirmed.

On Saturday, Formula 1 confirmed the next contract cycle for its new flagship race.

“We’ve agreed collectively that we’re going to do a two-year extension for 2026 and ’27,” Emily Prazer, president of the Las Vegas GP, said Saturday.

“We want to make sure that we’re continuing to evolve what we’re doing. But the intent is a much longer-term arrangement.

“As we all know, the race has had its challenges, but we’re coming out the other side. So we want to make sure that it continues to work for both sides. So collectively, we sat down and agreed that was the best approach. We’re very much planning longer-term, but that’s kind of where we’re at right now.”

Las Vegas’ 2025 event will take place on Nov. 22, taking its now-customary position the weekend before Thanksgiving.

City officials credit the race for flipping that weekend from one of its least commercially successful into to one of its biggest money-generators.

November itself has traditionally been one of Las Vegas’ weakest months, but last year it was the most commercially successful in the city’s history.

Figures released this year said the 2024 event alone generated $934 million in revenue, while raising $45 million in taxes.

Formula 1 has built a permanent facility in the heart of Las Vegas, Grand Prix Plaza, which serves as the paddock facility on race day.

With a clear desire from both sides to continue well into the future, there is no stress about tying anything down longer term.

Steve Hill, CEO and president of the Las Vegas Convention and Visitors authority, said: “The length of extensions don’t really reflect anything other than it just makes sense incrementally, we know what’s going to happen over the next couple of years.

“We’re planning on this being a permanent race; we’ll just keep planning extensions that will probably expand as we go forward.”