The South Point Hotel, Casino and Spa has been named the title sponsor of the Monster Energy Nascar Cup Series race at Las Vegas Motor Speedway (LVMS).
The venue’s multi-year agreement with the hotel sees the stock car series race become the South Point 400 from 2018.
Michael Gaughan, owner of the South Point Hotel, Casino and Spa, has sponsored races at LVMS since 1998, and has also sponsored race teams led by his son Brendan Gaughan in the Nascar Camping World Truck Series and Nascar Xfinity Series.
The financial terms of the deal were not released but title sponsorships in Nascar’s top-tier Cup Series are believed to be worth around US$1 million a year.
The news comes after Nascar announced in March that LVMS would host two races in the Nascar Cup Series from the 2018 season.
"Michael Gaughan has been a great friend to Las Vegas Motor Speedway for decades, and we're infinitely proud to have South Point as a major part of our first Monster Energy Nascar Cup Series Playoff race and our inaugural fall triple-header weekend," said Chris Powell, president of LVMS.
"The South Point 400 will showcase the best drivers in the world at one of the most fan-friendly and dynamic tracks in the country over the course of a weekend that fans will long remember. The coming year will be an historic one for our speedway, and we're ecstatic about what the future holds for Las Vegas Motor Speedway, our fans and our partners."
"I was there from the beginning of the Las Vegas Motor Speedway, and it's a thrill to now have the South Point 400 begin the Monster Energy Nascar Cup Series Playoffs in 2018," added Michael Gaughan. "Racing has been one of my life's greatest passions, and it's a dream to be deeply involved with a sport I love. The South Point and LVMS have had a long and strong partnership, and we can't wait to be part of the track's second triple-header weekend next year."
The South Point 400 event is scheduled for 16th September, and will begin the Nascar Cup Series’ play-offs. The race will be preceded by a Nascar Camping World Truck Series race on 14th September, and a Nascar Xfinity Series race on 15th September.
LVMS will be the first track in Nascar history to host two triple-header weekends in the same year, staging a Nascar Camping World Truck Series race, a Nascar Xfinity Series race, and a Nascar Cup Series race from 2nd to 4th March.