Las Vegas Strip businesses say F1 construction continues to kill profits
LAS VEGAS, Nev. (FOX5) - More than two weeks after the Las Vegas Grand Prix, business owners in the Flamingo and Koval area say they’re still suffering financially.
“It’s tough because the town thinks F1 is over and they’re gone and everything is back to normal, it’s not,” Battista’s Hole in the Wall Owner and Stage Door Casino COO Randy Markin said.
Markin says their businesses depend on locals, who seem to be avoiding the area altogether due to lasting F1 traffic impacts.
“No locals have been coming to us for many months,” Markin explained. “Nobody will drive to this area.”
He blames remnants of the race like the temporary vehicular bridge on Flamingo and Koval. The bridge remains up but is scheduled to be dismantled starting Dec. 9.
According to a press release from F1, the Flamingo and Koval intersection will be closed in all directions for six days, which Markin says will only exacerbate the problem.
“Think about it, if you’re out traveling, you’re going to say ‘Oh, I’m not going to that area, we can’t get there,’” he added.
Markin isn’t the only one bracing for next week’s impact. About a mile from Battista’s, Ferraro’s Ristorante Chef and Partner Mimmo Ferraro says they’ve trained their staff how to direct guests around closures when taking reservations.
“If people have to be inconvenienced, they just stay where they are,” Ferraro said.
Ferraro says the restaurant lost $2.5 million in expected revenue last year due to F1. He says because they’re still being impacted they can’t quantify this year’s losses yet.
“Impacts starting in October, all the way through November, all the way through December. It hurts small businesses and family-owned and operated businesses,” shared Ferraro.
Both Ferraro’s Ristorante and Battista’s Hole in the Wall are a part of a handful of businesses that are suing F1.
Due to that ongoing litigation, an F1 Spokesperson says they cannot make any comment on their concerns.
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