NEVADA VIEWS: F1 race a nightmare for local businesses
Having a restaurant or any business in the tourist corridor is no longer a positive experience. Through the construction for Formula 1, Las Vegas was crippled for nine months. Over this period, we had thousands of tourists and locals complaining about the traffic, as well as the increased cost of cabs and Uber rides. Customers shared fare receipts of more than $100 for a mile ride from the Strip, where it took more than an hour to get to their destination.
We heard from countless tourists that they will not return to Las Vegas during that time of the year, not to mention many locals said they would not return to the Strip until all this mess was over. This not only hurt our business immensely, but many surrounding local businesses were also negatively affected.
We at Ferraro’s have lost an excess of more than $2 million in revenue. It raises the question: How can our Las Vegas leadership allow local businesses to struggle and suffer for a three- or four-day event? Who profited? A few hotels? It doesn’t make sense.
How do we know what the return on investment is with all the money that was spent to destroy the Strip, its surroundings and, ultimately, people’s lives? We employ close to 80 people, and their pay was 20 percent less than last year. Who will reimburse Ferraro’s and our staff?
In speaking to other people and hearing their opinions, the Formula 1 track should have been built somewhere else away from the Strip. The Strip and Vegas will always get exposure no matter where the event takes place. It doesn’t make sense to tear up the Strip and surroundings to create a carnival.
To add fuel to the fire, Las Vegas leaders have approved another 81 road upgrades. This means more traffic delays, and Uber and cabdrivers not wanting to work in these areas, because it’s impossible to navigate.
I could go on for hours on the negative impact this event has created for all Las Vegas residents and our tourists. I strongly believe we need to rethink the strategy of how we can accommodate our visitors prior to the race and during. We can’t destroy the city for one weekend.
Gino Ferraro is owner of Ferraro’s Italian Restaurant &Wine Bar in Las Vegas.