When Formula 1 announced the Las Vegas Grand Prix, the reaction of most racing fans was primarily the sticker shock at the prices of the available tickets. The race was on pace to sell out, but sales have slowed as excitement for the lavish event has tempered. Unsurprisingly, prices have started to plunge to meet the new level of demand and fill out stands.
It isn’t an exaggeration to say that some ticket offerings for the Las Vegas Grand Prix were competing to be the most expensive in the entire history of spectator sports. General admission was $500. Casinos were offering packages with hotel rooms and event tickets for up to $100,000. Wynn Las Vegas was on the highest shelf with a $1 million ticket package that included hospitality box seats and a three-bedroom duplex suite.
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