Published on: November 21, 2024, 04:41h. 

Last updated on: November 21, 2024, 05:08h.

Restaurants, casinos, and stores are not the only ones affected by the F1 Las Vegas Grand Prix this week. The operators of Las Vegas’ production shows are also experiencing financial challenges.

The main issue arises from F1 using Las Vegas’ main thoroughfare for its performance space, causing significant delays for tourists and employees trying to reach the Las Vegas Strip resorts.

This disruption led to poor ticket sales for shows last year, resulting in substantial financial losses.

As a result, most shows have been canceled this year, including performances by Cirque du Soleil, Shin Lim, Carrot Top, and several others in different venues.

The only major acts still performing this weekend are David Copperfield at the MGM Grand and Adele’s final shows at her residency.

Race to the Bottom

Show producers share costs and profits with the hosting resorts, but the resorts will likely offset their losses with increased room rental revenue during the F1 event.

Producers like Spiegelworld face significant revenue losses without any compensatory measures.

Last year, F1 cost Spiegelworld $500K in diminished sales, a substantial amount for shows that typically attract smaller audiences compared to big productions like Cirque du Soleil.

The entertainment industry in Las Vegas has lost millions in revenue due to F1’s impact, with no indication of reimbursement from the event organizers.

Although some smaller businesses have sued F1 for revenue losses, entertainment producers have yet to take legal action.