Las Vegas Grand Prix Settles Disputes with Local Businesses
UPDATE: Formula One’s Las Vegas Grand Prix has just settled disputes with three local businesses that claimed significant revenue losses due to last year’s race and extensive road construction. The race organizers confirmed agreements with Battista’s Hole in the Wall, Stage Door Casino, and Jay’s Market amidst ongoing tensions over the economic impact of the event.
The settlements come after businesses reported that the first event in 2023 led to major street closures and construction in the bustling Flamingo Road–Koval Lane area, severely limiting customer access. The owner of Jay’s Market previously stated that their losses amounted to a staggering $3.5 million.
Legal documents revealed that a judge dismissed a lawsuit from Battista’s and Stage Door just last week, preventing these businesses from pursuing similar claims in the future. However, RDG LV LLC, the parent company of these establishments, remains involved in ongoing legal discussions regarding the perceived decline in land value due to race-related disruptions.
In a proactive move, the Grand Prix has been negotiating with impacted businesses to mitigate future conflicts. Earlier this year, they reached an agreement with Ellis Island Casino, which had also raised concerns about lost income due to the race. This partnership resulted in the creation of a spectator zone on the casino’s property. A separate deal was also struck with a 7-Eleven located within the race area, which will feature live race broadcasts.
These developments are particularly timely as the Las Vegas Convention and Visitors Authority recently voted to extend the Grand Prix through 2027, approving a significant $20 million sponsorship to guarantee at least two more races after the upcoming event in November.
The first Las Vegas Grand Prix, which runs on a 3.8-mile street track that encompasses parts of the iconic Las Vegas Strip, has garnered worldwide attention. However, it has also resulted in prolonged traffic disruptions that have affected local businesses.
Despite the recent settlements, the economic impact of the Grand Prix remains a contentious issue. Another establishment, Ferraro’s Ristorante on Paradise Road, is still actively seeking compensation for lost customers, citing both the 2023 race and anticipated future disruptions.
Race organizers have expressed a commitment to fostering better relationships with the community, emphasizing their efforts to engage with local businesses and minimize conflicts moving forward. As the situation continues to develop, the focus will remain on how these agreements will shape the future of the Las Vegas Grand Prix and its relationship with the local economy.
