Vegas companies want compensation for F1 race: 'F1 needs us!'
F1 News
The race weekend in Las Vegas was already fairly controversial. Loose covers on track, a session without fans, and there was even brief talk of a possible strike over the weekend. Now owners of local businesses want to be compensated for their loss in revenue.
Companies that lost millions of dollars in revenue thanks to the F1 weekend have teamed up with F1, the local municipality and the Las Vegas Convention and Visitors Authority to ask for financial compensation. "We don’t need the F1. The F1 needs us," Wade Bohn, owner of a local company, told LVSportsBiz.com. He continued: "We want to be compensated for the losses that occurred due to everything F1, the county and the LVCVA did."
Millions lost for local business in Las Vegas
According to Bohn, his shop went from sales of $8.5 million in 2022 to $4.2 million in 2023. This loss was said to be because customers could not reach his shop due to F1-related work. "None of us want to destroy Las Vegas. We don’t want a lawsuit. We want to turn a negative into a positive. It’s much better if the county commission, LVCVA and FI get together and be proactive about this problem," said another business owner.