The $30 Million Destruction: How F1 Wiped Out Local Businesses
When Formula 1 came to Las Vegas, it promised economic prosperity. For the small businesses in its path, it delivered devastation—more than $30 million in losses and shattered livelihoods.
The Las Vegas Grand Prix was supposed to be an economic boom. For businesses like Battista's Hole in the Wall and Stage Door Casino, it was an extinction event. Together, a group of seven business owners estimate they lost more than $30 million.
The "9-Month Beatdown"
The first Formula 1 Las Vegas Grand Prix in 2023 required massive infrastructure changes: road closures, construction barriers, and traffic disruptions that lasted for months before and during the event.
Las Vegas Grand Prix CEO Renee Wilm later admitted: "We are not doing what we did last year. It was a 9-month long beatdown, and for that we will be eternally grateful to the residents of Las Vegas for tolerating us."
But "tolerance" doesn't pay the bills.
The Casualties
Battista's Hole in the Wall and Stage Door Casino, longtime Las Vegas institutions on Flamingo Road, filed lawsuits against Clark County and Liberty Media (F1's owner) alleging millions in losses.
Tanya Markin, co-owner of both establishments, told Clark County officials: "Our community has F1 PTSD."
Other businesses fared even worse:
- Madgy Amer lost all of his small businesses, including the restaurant Tex Mex Tequila on Las Vegas Boulevard. He "could not take the revenue losses and had to close."
- Wade Bohn, a convenience store owner, said course construction blocked visitors from his store. He had to lay off half his staff and lost about 80% of his business. "We're out here on an island by ourselves, just drowning."
No Community Outreach
Businesses say they received no meaningful warning or support before the disruptions began. As one analysis noted, Year 1 began with:
- "Literally no community outreach"
- Ticket prices "so high that the average price was the most expensive on the F1 tour"
- Locals "shut out from attending the race"
- Resort workers unable to get to their jobs due to road closures
The Lawsuits
In September 2024, Battista's, Stage Door Casino, and Jay's Market filed suit against both Clark County and Liberty Media, alleging:
- The county improperly fast-tracked the permit process
- F1 failed to compensate businesses for losses
- Damages in the millions of dollars
A settlement was eventually reached, though details remain confidential.
The Petition
The seven business owners launched a petition called "Stop the Las Vegas Grand Prix" attempting to halt the 2024 race. As of May 2024, it had gathered over 2,500 signatures.
Who Actually Benefits?
While small businesses drowned, luxury hotels reported record numbers:
- Wynn, Aria, Cosmopolitan: occupancy above 95% at elevated rates
- Mid-tier properties like Harrah's and Flamingo: modest increases or normal November occupancy
The economic benefit flowed to the top while the costs were borne by workers and small business owners.