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Las Vegas businesses ask for financial ‘remedy’ after heavy losses from Formula One traffic, closures

By Jaclyn Schultz

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    LAS VEGAS (KVVU) — Seven local businesses ask leaders across Las Vegas for a financial “remedy” following more than $20 million in losses from Formula One traffic and closures, and hope for a solution to avoid a class-action lawsuit.

Letters were submitted during public comment during the meetings of the Clark County Commission and the Las Vegas Convention and Visitors Authority. They call for an “F1 Small Business Recovery Fund” as a “remedy” to the businesses’ losses. Businesses in the group include Ellis Island, Battista’s Hole in the Wall, Las Vegas Souvenirs & Gifts, Jay’s Market and Ferraro’s Ristorante.

The letters were submitted by spokesperson and community advocate Lisa Mayo-DeRiso.

“Government is not supposed to pick winners and losers in the business community. That’s not their job. So we’re looking for a remedy,” Mayo-DeRiso said outside the LVCVA meeting.

The businesses also call for the removal of the temporary Flamingo Road bridge that was brought to the area by F1. Businesses would like to see it removed by the Super Bowl to bring back customers. County officials tell FOX5, the bridge will be removed, but the timeframe is unknown.

“Business-wise, this whole area just got destroyed and it’s still not coming back. If we have another year like this, none of us will be in business,” said Randy Markin, owner of Battista’s and GM of Stage Door Casino. Both establishments lost a combined $4.5 million, he tells FOX5. Workers were laid off due to sluggish demand.

Markin said Steve Hill of the LVCVA has already met with him to discuss concerns and another meeting with the LVCVA is forthcoming. “He seemed very responsive. He understands what happened to everybody in, in this Flamingo corridor. He asked for a little bit of time…he felt that he could put something together that could rectify our problems,” Markin said.

Chair Jim Gibson met with Mayo-deRiso and business owner of Jay’s Market at the LVCVA meeting; though Gibson declined to speak to FOX5 on camera about the issue at hand, but Mayo-DeRiso described Gibson as “responsive” to concerns.

Commissioner Tick Segerblom tells FOX5, the businesses will meet with county officials in coming months to address concerns; a review is forthcoming to address the overall impact of F1 on local businesses.

FOX5 also requested an interview with the LVCVA and a response from F1. FOX5 will update the story when we get their responses.

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