LAS VEGAS (KTNV) — It has been three months since the inaugural Formula 1 Las Vegas Grand Prix, but the battle between local businesses and F1 continues.
Randy Markin owns Battista's Hole in the Wall Italian restaurant. On Thursday, he told Channel 13 if F1 doesn't pay up, he will sue. Markin says a lawsuit is the last thing he wants to do, but his businesses and employees are suffering.
He told me that he has given Formula 1 a deadline of the end of next week to reach an agreement with him.
Markin says he just wants to be paid back for his lost profits and employee's lost tips. He told me he presented an undisclosed number, that he expects F1 to pay his business, during a meeting Thursday afternoon with F1 Las Vegas Grand Prix chief operating officer Betsy Fretwell and attorneys.
Markin told Channel 13 News in past interviews, his businesses lost approximately $5 million last year, claiming F1 construction and the temporary Flamingo Bridge caused those losses.
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Jay's Market owner Wade Bohn says his business saw approximately $4 million in losses and the owners of Las Vegas Souvenir & Gift Shop say their business used to have 200-300 customers a day. However, after F1 construction started, approximately 20-30 customers were visiting a day.
These businesses are located on Koval Lane and Flamingo Road near the Las Vegas Strip.
They all claim, after track paving began in April 2023, business took a nose dive as customers either avoided the area or couldn't find a path to the shops.
Amid several construction projects, F1 constructed a temporary vehicle bridge on Flamingo Road over Koval Lane. Those same companies claim business plummeted even more after the bridge was constructed.
Formula 1 said in past interviews that the bridge was built to alleviate traffic and was the only path inside the track path during race days.
The Flamingo Bridge ended up being the last temporary F1 Las Vegas Grand Prix structure removed after the race.
Clark County was originally going to leave the bridge up for 90 days to do a traffic study to see if this could be a permanent addition to Flamingo Road. However, crews fully removed the bridge on January 31. That was about two-and-a-half months after the race.
Bohn says he, Markin, and the owner of Ellis Island Hotel & Casino have all met with Formula 1, trying to work out compensation deals to recoup losses and work on partnership deals for future Las Vegas Grand Prix races.
Following the removal of the Flamingo Bridge, Bohn and Markin both tell Channel 13 News they received a notice from the Las Vegas Valley Water District saying there was a water main leak. The notice says construction on Flamingo Road would start late March or Early April through the fall before the 2024 Las Vegas Grand Prix.
RELATED LINK: After F1 bridge controversy, local businesses hit with more roadblocks
On Jan. 31, the water district told Channel 13 they noticed the leak shortly after the temporary bridge was constructed, but could not say the bridge was the reason for the leak.
The water district says the pipes date back to the 1950s and 1960s and have been on the their radar to fix.
Channel 13 reached out to F1 about the water leak. They sent the following message.
"Las Vegas Grand Prix has no oversight over utility work. Please direct any questions to the water district."
Several local business owners tell Channel 13, they believe the bridge is the reason for the leak.
Channel 13 also reached out to F1 about the meeting on Thursday with Markin, but have not received a response as of Thursday night.
