Formula One has secured another significant piece of Las Vegas real estate as part of its ongoing expansion strategy in the city. Liberty Media, the commercial rights holder of F1, has completed the acquisition of Club Platinum, a long-standing establishment located near the Grand Prix circuit.
The property purchase signals the organization’s commitment to developing its retail presence in the Las Vegas market, where the annual Grand Prix has become a marquee event on the racing calendar.
Liberty Media Purchases Club Platinum for F1 Merchandise Store
Liberty Media closed the transaction on Club Platinum on September 28, 2025, following an escrow period that began on June 28, 2025. According to sources familiar with the deal, Liberty Media acquired the property for between $3 million and $3.5 million, significantly below the initial asking price of $4 million. The company deposited $100,000 in earnest money to secure the transaction, with the entire purchase made in cash.
Club Platinum is situated at the corner of Flamingo Road and Tuscany Casino Drive, approximately 1,500 feet from the Las Vegas Grand Prix racecourse. The property has operated as an entertainment venue since its construction in 1965 and holds a rare combination of licenses that few establishments in Clark County possess: gaming, liquor, and adult entertainment permits.
Only one other business in the region, Play It Again Sam, holds this identical trifecta of licenses.
Rita Capovilla, the previous owner, chose to accept Liberty Media’s offer below the listing price to avoid the lengthy gaming license transfer process, which can extend beyond one year. By accepting the lower offer, Capovilla bypassed the regulatory requirements that typically accompany the sale of properties with gaming licenses.
F1’s Four-Story Merchandise Store Plan
Liberty Media’s strategy involves demolishing the existing structure and constructing a four-story F1 merchandise store on the site. This development will provide Formula 1 with a dedicated retail facility positioned directly near the Grand Prix venue, allowing the organization to offer fans and attendees a centralized location for official F1 products and branded merchandise.
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As part of this transition, Liberty Media is relinquishing the gaming and liquor licenses that accompanied the property, choosing instead to focus entirely on retail operations.
“Liberty Media, owner of Formula 1, has purchased the Club Platinum strip club [in Las Vegas]. The tentative plan is to demolish the classic dive and build a four-story F1 merchandise store, per a source familiar with the transaction.” – @VitalVegas https://t.co/7e6vHAcAJK
— Adam Stern (@A_S12) November 9, 2025
This acquisition represents Liberty Media’s continued investment in the Las Vegas market following the company’s previous major commitment in 2022. That year, Liberty Media purchased 39 acres of land east of the Strip for $240 million to develop the pit and paddock complex that serves as the nerve center of the Las Vegas Grand Prix.
The Club Platinum acquisition demonstrates the organization’s determination to enhance its infrastructure and commercial operations at one of Formula 1’s most high-profile events.
