F1 has been in talks with promoters over a potential Las Vegas Grand Prix for some time, but confirmed on Tuesday night that the race would be joining the calendar from next year.
It means the United States will stage three grands prix from next year as Las Vegas joins the Miami Grand Prix and the United States Grand Prix in Austin on the schedule.
The 3.8-mile street circuit will feature 14 corners and a long straight that will see drivers reach speeds of over 210 mph during a race that will last 50 laps.
It will be the first time since 1985 that F1 has held a grand prix on a Saturday, breaking with its traditional weekend format to secure a primetime slot for the US audience.
“This is an incredible moment for Formula 1 that demonstrates the huge appeal and growth of our sport with a third race in the US,” said F1 CEO and president Stefano Domenicali.
“Las Vegas is a destination known around the world for its excitement, hospitality, thrills, and of course, the famous Strip. There is no better place for Formula 1 to race than in the global entertainment capital of the world and we cannot wait to be here next year.”
F1 previously held a race in Las Vegas in 1981 and 1982, constructing a temporary circuit around the parking lot of the Caesars Palace casino which was widely criticised and poorly attended by fans.
According to F1, it will work along with many of the casinos and resorts around Las Vegas to help promote the race, as well as with the Las Vegas Convention and Visitors Authority.
“We eagerly anticipate the moment when the history, energy and momentum of Formula 1 will culminate in an unforgettable Saturday night on the Las Vegas Strip,” said Steve Hill, the president and CEO of the LVCVA.
“Spectators will experience the unrivalled thrill of watching these world-class drivers race through what is sure to become one of the most iconic racetracks in the world.
“Formula 1 and Liberty Media have been incredible partners, and we look forward to November 2023 when we once again showcase that Las Vegas is ‘The Greatest Arena on Earth.’”
As well as adding Las Vegas to the calendar for next year, F1 is already confirmed to be returning to Qatar and has a contract in place for the Chinese Grand Prix, which has not been held since 2019.
F1 boss Domenicali recently said there was enough interest for as many as 30 races each year, but the Concorde Agreement limits the number of events to 24 per season.
It means that some of the existing races on the calendar are at risk of dropping off, and may only return on a rotation basis in the future as F1 balances the number of markets in which it races.