LAS VEGAS (KTNV) — Plans for a free festival in downtown Las Vegas are in the works to coincide with the 2024 Formula 1 Las Vegas Grand Prix.
Tuesday morning, the Las Vegas Convention and Visitors Authority approved a $1 million sponsorship agreement for the Neon City Festival, which is expected to take place Nov. 22 through Nov. 24 — the same weekend as the Las Vegas Grand Prix.
The festival is still in the early planning stages, but is expected to include the participation of the Fremont Street Experience, 12 downtown hotel-casino properties and the STRAT.
In a statement sent to Channel 13 on Tuesday afternoon, festival organizers said the event "will feature a large sprawling footprint, headliner talent, diverse food and beverage offerings, and more."
"The Neon City Festival looks forward to revealing additional details in the coming weeks," organizers wrote.
The Neon City Festival is being organized with the hope that downtown Las Vegas properties will have the opportunity to capitalize on some of the hype around the Las Vegas Grand Prix.
During the discussion, LVCVA president and CEO Steve Hill pointed out that, while the 2023 Las Vegas Grand Prix was "a great financial weekend," it was actually "one of the lower [hotel room] occupancy weekends that we had. It may have been the lowest that we had."
"There are a little over 6,000 rooms downtown, but I think rooms throughout the valley that are not on the [F1] circuit have the ability to benefit from this festival," Hill told the board.
"As you know, what really drives the financial model of downtown is not just filling their rooms, but it's having the rest of the city come visit while they're coming to experience everything that the entire Resort Corridor has to offer. So, we think that has additional benefit other than just the event itself."
Las Vegas is the 22nd race on the Formula 1 calendar with festivities scheduled to take place from Nov. 21 through Nov. 24.
