May 8, 2024 3 min read

likes:

Outcry from Businesses Spurs Petition to Halt 2024 Las Vegas F1 Grand Prix

Small business owners assert that the Las Vegas Grand Prix resulted in a combined loss of $30 million for them

Las Vegas local business owners have joined forces to try to put a stop to the 2024 Formula 1 Las Vegas Grand Prix, pointing out that last year’s event caused them major financial losses and business disruptions.

$30M in Losses Spark Petition Against Formula 1 Event

A coalition of Las Vegas small businesses has launched an online petition demanding that the Clark County Commission deny permits for this year’s Formula 1 event until all concerns regarding the execution of the race are adequately addressed. They claim that the Grand Prix held in Las Vegas cost them $30 million in cumulative losses.

The petition is titled “Stop The Las Vegas Grand Prix (F1)” and was started by Lisa Mayo-DeRiso, a public relations consultant representing several affected businesses, on May 3. So far it has gathered 1,350 signatures. 

Supporters are using the petition as an opportunity to voice their concerns regarding the negative impact of the event on local businesses, employees, and transportation services.

One of the main points in the petition is that the closure of the Resort Corridor and the construction of a temporary bridge at Flamingo and Koval caused a lot of disturbances and thwarted normal business operations. This resulted in revenue losses for local business establishments due to the decreased foot traffic in the area. 

Furthermore, the petitioners point out that the race also had a negative effect on traffic, posed logistical challenges and disrupted transportation services, having adverse implications beyond revenue losses.

Petition Pushes for Accountability in Formula 1 Event Planning

Gino Ferraro, owner of Ferraro’s Ristorante and one of the main advocates for the petition, highlighted that no consultation took place with the affected stakeholders, reported the Las Vegas Review-Journal. He underscored that Formula 1 officials failed to organize a public meeting to address the local businesses’ grievances. Ferraro stressed the importance of community input and transparency in the decision-making process surrounding large-scale events like the Formula 1 Las Vegas Grand Prix.

The petition advocates for the Clark County Commission to not grant event permits until a new plan for the race is made up, which is less disruptive to business operations and does not close off the whole of the Las Vegas Strip. 

In addition, the petitioners are seeking compensation for the $30 million in losses, which they suffered as a result from last year’s race.

Clark County officials have not made any comments regarding the petition. However, Formula 1 representatives have made a commitment to minimize disruptions during this year’s event and address recommendations from the county.

However, a recent report from Clar County revealed that while there were significant financial gains stemming from Las Vegas Grand Prix, many small businesses along the Strip incurred major losses.

Author

Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.

Leave a Reply

Your email address will not be published. Required fields are marked *