Las Vegas business owners blame Formula 1 for massive revenue losses, citing disruptive race preparations and dwindling reservations during the event.
As the second Formula 1 Grand Prix in Las Vegas approaches, two local business owners have criticized the event, the sport, and its authorities. Wade Bohn, owner of a Coca-Cola-themed gas station in Las Vegas, was initially thrilled to hear his city would join the Formula 1 calendar last year.
However, disruptions to the city have resulted in a shocking 65% revenue drop for November. He told Le Journal de Montréal that his revenues in November 2022 totaled $682,000. This year, “I won’t even reach $200,000,” he revealed.
“It makes me sick. If this race continues into the fourth year of the contract, I’m done. I’ve already laid off 50% of my staff. The destruction caused by a 90-minute race we host once a year is inexplicable. I don’t understand this concept. This is our city.”
Another restaurateur, Randy Markin, is suing Formula 1 for the financial losses caused by the disruptions to his business.
“No event has ever destroyed my city like F1,” said the owner of Italian restaurant Battista’s Hole In The Wall. He claims that during Formula 1’s presence, his reservations drop by 50%.
“It’s horrible. We’re supposed to be full. People call to cancel their reservations because they can’t get here due to traffic and closures. We were the busiest restaurant on the Strip.”
He also criticized Formula 1 officials: “These people don’t care. It’s the first time a company has come to Vegas and not integrated into the urban fabric. God knows how many businesses have come here. No city in the world hosts major events like we do.”
“But why do the locals despise this race so much? It’s because F1 strolls in with its nose in the air, disregarding everything and destroying whatever lies in its path. They fly in on private jets, handle their business, and leave. That’s not how things work here.”
F1 apologized for the disruptions caused during the 2023 edition and promised improvements for 2024. However, Markin believes nothing has changed: “If F1 truly cared about Vegas, we wouldn’t be fighting this in court.”
“It’s impossible to sit down and have a conversation with these people because they just don’t care. They have no loyalty. And their belief that they can dominate with money no longer works. Especially not in this one-of-a-kind market.”
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F1 Sparks Fury in Vegas as Businesses Struggle F1 Sparks Fury in Vegas as Businesses Struggle
