Small businesses still struggling with last year’s Formula 1 construction problems

Small businesses still struggling with last year’s Formula 1 construction problems

Whenever the topic of F1 comes up, business owners are here.

100 days have passed and the Formula 1 Grand Prix of Las Vegas returns to the Strip.

The Las Vegas Formula 1 Grand Prix returns to the Strip.

Marquees along the boulevard will welcome spectators to the race weekend in November 2024.

However, some business owners are not exactly fans of it.

Business owner Tanya Markin says our community is suffering from post-traumatic stress disorder.

Last week, business owners told Clark County commissioners they needed help.

Business owner Tanya Markin says: “Are you listening to us? Do you even care?”

Lisa Mayo-Deriso represents many of these owners.

“They draw a very clear line between the past and all the damage that has happened and just move on to 2024 and somehow ignore us,” says Mayo-Deriso

She says businesses near East Flamingo and Koval lost millions of dollars in revenue when a temporary bridge was erected during last year’s race, blocking access to their parking lots.

Shops and restaurants were almost empty, she says.

Mayo-Deriso believes these losses should be remedied before Formula 1 returns to town.

Lisa Mayo-Deriso says: “Formula 1 is either one of the richest sports franchises in the world, or at least one of them, and $30 million or whatever the sum may be to compensate these business owners is a drop in the ocean for them.”

A Formula 1 spokesman said its representative met with the business owners in June and concessions were made.

The Flamingo Bridge will be reduced from four lanes to two to allow access for businesses, taking into account the impacts on the surrounding area and lessons learned.

Mayo-Deriso is skeptical.

When asked if she thinks people will avoid the area even if access is open, she says: “They will avoid the area. We try to avoid pylons.”

Right on Harmon there is a vacant lot where the Tex-Mex restaurant Magdy Amer used to be.

Magdy Amer says Formula 1 has robbed him and his staff of the American dream and they don’t care.

Mayo-Deriso says he (Madgy Amer) doesn’t have to worry about 2024 because they’ll have wiped him out in 2023 and those companies, those employees won’t exist anymore; they’ll be gone.”

Materials for the pedestrian and car bridges are already being collected near the F1 pit building in front of Koval.

According to official information, some closures due to installations are expected in the coming weeks.

“They talk about their legacy. We are F1 and we want to leave a legacy in Las Vegas,” says Mayo-Deriso.

She also says: “Her legacy in Las Vegas is the legacy of loss in Formula 1.”

According to Formula 1, last year’s race brought in more than $1.5 billion for the valley.

That was about double the performance at the Super Bowl a few months later.

Some of these small businesses agreed that the Strip was busy, but that was not the case.

They plan to speak again during the public hearing.

They are concerned that the problems of last year have still not been resolved.

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