Local Businesses Seek Compensation for Losses Caused by F1 Las Vegas GP

Formula 1 Las Vegas Grand Prix in 2023 was a hit for the fans, but a bust for the local businesses. Several shops and restaurants in Las Vegas are asking for compensation from the authorities for the losses they suffered during the event.

Among those seeking redress are Wade Bohn (owner of Jay’s Market), Randy Markin (owner of Battista’s restaurant and general manager of Stage Door Casino), and several other representatives. However, the big names in the Las Vegas gambling industry, such as MGM Resorts, Wynn, and Caesars, stayed out of the fray.

The unhappy businesses sent a spokesperson to meet with the Clark County officials on January 2. 

During the meeting, they said that they want to avoid a class-action lawsuit against the authorities and Formula 1, and seek an out-of-court settlement for the losses they suffered due to the event.

Millions of Dollars in Losses

The businesses claim they lost millions of dollars because of the F1 event. Bohn and Markin said their establishments lost about $4 million in 2023 compared to 2022. The reason was that their businesses were disrupted for months while the Las Vegas roads were transformed into a race track. And it took weeks to remove the track and the grandstands after the Grand Prix.

Road closures caused by the construction and removal of the F1 race track

Markin also said that the large companies like MGM Resorts and Caesars made money from the F1 event, but at the cost of crushing the small and medium-sized businesses.

The case might not go to trial. Markin said he had a meeting with the director of the Las Vegas Convention and Visitors Authority (LVCVA). The director promised to support their demands, but it will take time to reach a compromise.