Businesses on the Las Vegas Strip say Formula One construction continues to eat into profits

LAS VEGAS, Nev. (FOX5) – More than two weeks after the Las Vegas Grand Prix, business owners in the Flamingo and Koval area say they are still hurting financially.

“It’s hard because the city thinks Formula 1 is over and they’re gone and everything is back to normal, but that’s not the case,” said Randy Markin, owner of Battista’s Hole in the Wall and COO of Stage Door Casino.

Markin says their business relies on locals who appear to be avoiding the area altogether due to the ongoing impact on Formula One traffic.

“No locals have been coming to us for many months,” Markin explained. “No one will drive to this area.”

He pushes leftovers from the race, such as the makeshift car bridge, onto Flamingo and Koval. The bridge will remain in place, but will be dismantled from December 9th.

According to a press release from F1, the The Flamingo and Koval intersection will be closed in all directions for six dayswhich Markin says will only make the problem worse.

“Think about it: When you travel, you’ll say, ‘Oh, I’m not going to that area, we can’t get there,'” he added.

Markin isn’t the only one bracing for next week’s impact. About a mile from Battista’s, Mimmo Ferraro, executive chef and partner at Ferraro’s Ristorante, says they have trained their staff to ask guests for closings when accepting reservations.

“If people have to suffer inconvenience, they just stay where they are,” Ferraro said.

According to Ferraro, the restaurant suffered an expected loss in sales of $2.5 million last year due to Formula 1. He says they can’t quantify this year’s losses yet because they are still affected.

“Impact starts in October, through November into December. It hurts small businesses and family-run businesses,” Ferraro said.

Both Ferraro’s Ristorante and Battista’s Hole in the Wall are part of one Handful of companies suing F1.

Due to this ongoing legal dispute, an F1 spokesman said they could not comment on their concerns.

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