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By Alan Snel, LVSportsBiz.com Publisher-Writer
LAS VEGAS, Nevada — Johnny Seo is a restauranteur who knows the score about the F1 race’s impact on local restaurants.
Seo, the general manager of Sushi Roku restaurant at The Forum Shops at Caesars, knows the Las Vegas Grand Prix will not help restaurants that don’t have a view of the 3.8-mile track. Indeed, not only have restaurant owners reported losing revenues because of the much-hyped road race, two eateries —Ferraro’s Ristorante and Battista’s Hole in the Wall — have filed lawsuits against F1 an Clark County.
But Sushi Roku is one restaurant that has financially swam upstream against a race event that features food and beverages as part of many ticket deals. The three-day event that has taken over the Strip corridor and caused many road closures began Thursday evening with practice and culminates Saturday at 10 PM Las Vegas time to serve the sport’s fans watching it on TV in Europe.
As Seo told LVSportsBiz.com Thursday afternoon, “We’re the lucky one. We have the view.”
Indeed. Take a look:
This is F1 race number two in Las Vegas after the inaugural race setup in 2023 was a disaster that disrupted business and transportation in the region’s main economic artery.
For some reason, gullible Clark County commissioners approved the Las Vegas Grand Prix without understanding the consequences of handing over 3.8 miles of public roads for free in the Strip corridor to a private race promoter owned by Colorado-based Liberty Media.
The F1 disaster was so widescale that it prompted Liberty Media chief Greg Maffei to issue a short apology on TV a year ago.
LVSportsBiz.com took a fresh look at that apology on video and noticed that Maffei was half-smiling as he issued his apology. It lacked a genuine sense of regret. To add more salt to the wound, Maffei added a comically-bloated economic impact number that LVSportsBiz.com will not repeat because the number was so ridiculous. This is why so many in Las Vegas thought F1 came off as an arrogant and phony sports promoter in Year 1.
Seo also recalled that Las Vegas Grand Prix tried to squeeze him for $1,500 per customer for serving food at Sushi Roku during the race in 2023. This was yet another pathetic misstep by Formula 1 in an attempt to shake down local businesses with views of the track on Las Vegas Boulevard, Harmon Avenue, Koval Lane and Sands Avenue.
Seo said Las Vegas Grand Prix backed off the $1,500 per customer cash grab, advising Sushi Roku that its customers could watch the race cars from their tables as long as the restaurant did not market the meal using “F1” in the sales pitch. It was like a business agreeing to not include, “Super Bowl,” in its marketing pitch for any deals related to the NFL’s championship game.
We’re the lucky one. We have the view. — Johnny Seo, Sushi Roku general manager
The meals with a view has paid off for Sushi Roku, which has been in Las Vegas for 20 years. Seo said the restaurant will generate $200,000-$300,000 in sales during the F1 three-day race event. Sushi Roku also has restaurants in Santa Monica, Pasadena, Newport Beach, Manhattan Beach, Austin Texas and Palo Alto.
F1 creates a spectacle feel for the Las Vegas event, which has the most expensive ticket on the Formula One circuit. Here’s a view from the paddock building in Year 1.
After F1’s Year 1 in Vegas. Sushi Roku customers knew all about the meals with a view.
Many made reservations for $100 meals more than six months ago, Seo explained.
Sushi Roku also sold space to two VIP groups for special events on both Friday and Saturday nights, Seo said. There was no mention of F1 in the sales deals.
Hotels have packaged together all types of F1 race deals. Here’s a look from the Bellagio Fountain Club just south of Sushi Roku.
Sushi Roku did install a raised sitting and mingling area for the race event so that customers could see the race track above the customers at tables.
Here’s a view from that position:
The F1 race continues Friday night with practice and qualifying and the race Saturday.