The huge divide between an Epic Event and a Huge Disaster for Las Vegas
It all began in April of 2023 when construction started on the Las Vegas roads to build a 3.8-mile track for the Formula 1 circuit. This is with the F1 paddock area property that was purchased for $260 million dollars beginning construction on the property that sits on the corner of Harmon and Koval near Top Golf. The Strip corridor is basically a closed track for the 3.8-mile race.
The majority of the summer months and into fall was nonstop construction that bottlenecked traffic with nightly closures and traffic backups that would have anyone fuming just to get to the next block. Transportation services such as taxis, rideshare, busses, and private limos have taken the biggest hit with the slowdowns in transit time to get visitors from one place to another was a struggle just waiting in traffic for up to a half hour to forty-five minutes.
Plus, when it came time to build the temporary bridges for traffic to go over the F1 track was a logistical nightmare for suppliers to reroute all the way around the city just to get to the drop off. This all adds up to the disruptiveness of the whole concept of a major Formula 1 race in Las Vegas for November 16-18 2023.
As time progressed, the road construction was on just one side of the road. Businesses around the area were beginning to be affected by these closures with noticeable downturns in revenue and foot traffic.
Let’s be clear, this seemed like a great idea at first. However, when the construction and destruction began the writing was clearly written on the wall. Formula 1 was in charge of this operation and tearing apart and cutting down trees on the strip, so be it. That’s what they did. At the Strip side of Bellagio 25-year-old trees were cut down to make way for the grandstands. This is where the locals were starting to get concerned over Formula 1’s intentions for what they had envisioned for the Las Vegas circuit and properties for their grandstands and private bungalows for these areas around hotels facing the F1 track. Needless to say, the locals were deeply saddened by the cutting down of the trees on the Strip.
The 10-Year Formula 1 Deal
Las Vegas Grand Prix and LVCVA have made a 10-year deal to host the Formula 1 in Las Vegas. This means that Formula 1 will have at least 3 years here in Las Vegas and can negotiate and extension to do more races within the 10 years. Las Vegas will have to endure the road closures next year for the 2024 race that will happen on November 21-13, 2024. Plan your vacations and visits to Las Vegas accordingly.
Walking the Las Vegas Strip on Day 2 of the Formula 1 2023. Where is everyone?
The Numbers won’t add up for Las Vegas businesses
Formula 1 has a reputation for exploiting the streets of just about any city that it lays a track on. Any operating business that’s in its way will suffer due to blocking off pathways and entryways to local businesses. Even the many restaurants in the hotels along the strip will suffer because Formula 1 has its own catering and private chefs that come in and wine and dine with its guests. Leaving most restaurants empty during prime time hours.