LAS VEGAS (KTNV) — In just six months, Formula 1 will be back in Las Vegas, but before then, local businesses are taking a stand.
One local business owner is suing F1 and Clark County over claims of lost profits, and others are preparing to follow suit.
"He's leading all of us to do the same thing," said Magdy Amer, the former owner of Tex Mex Tequila Bar & Grill on Las Vegas Boulevard and Harmon Avenue.
He tells Channel 13, after F1-related construction started for last year's grand prix in April, business went downhill quick.
"We used to bring in gross sales daily, from $18,000 to $20,000," Amer said. "By the time we left, we would be lucky if we brought in $1,500."
Amer operated the Bar & Grill for six years and fully shut down in November. Now, the old Tex Mex building is being demolished.
He's not the only business owner claiming financial loss from F1. At least seven businesses claim millions in lost profits from construction last year.
The owner of Ellis Island is the first to sue F1 and the county, hoping to make back what they claim they lost.
The 2024 F1 Las Vegas Grand Prix is expected to take over Las Vegas from Nov. 21 to 23. Construction is expected to last three months for this year's event.
"They cannot experience the same experience they did in 2023 and take losses again unless F1 puts up some sort of reimbursement fund up," said Lisa Mayo-Deriso, a business consultant for those claiming millions in losses from F1.
Deriso says many local businesses may not make it through next year if they experience the same loss this year, so some are moving closer to taking legal action.
Until then, the county still needs to meet with Formula 1 about a special use permit to have the race.
The Clark County commissioners will meet Tuesday to discuss business licensing for the future of the Grand Prix Plaza. Right now, building rentals for events like a dinner, reception or a meeting are all open.
That meeting is scheduled Tuesday at 9 a.m. Channel 13 will be there and will bring you the latest on the future of the Grand Prix Plaza.
