Time running out for legendary Crazy Horse Too strip club
December 31, 2007 will be an important date for the legendary Crazy Horse Too strip club, which was shut down on July 1. According to an article from the Las Vegas Sun, if the club remains closed for six months, it will permanently lose its liquor license, which would likely have severe effects on the value of the property.
A city ordinance prohibits certain establishments within 1,500 feet of each other from selling alcohol. Although the distance between the Crazy Horse and Cheetahs violates the ordinance, the clubs were grandfathered into exemption.
Potential owners must receive at least a temporary liquor license from the city and reopen the club before the December deadline or lose the exemption status.
The Crazy Horse Too was seized after former owner Rick Rizzolo failed to sell it to pay $17 million in court-ordered fines, forfeitures and settlements. The Marshall’s service has hired the Las Vegas branch of CB Richard Ellis to market the club.
Although three potential buyers were unable to close deals and impending deadline is already effecting its value, Geoffrey West, vice president of investment properties for CB Richard Ellis, is confident that the property can still attract offers in the mid-$30 million range.
The club has had a storied history, including a long-standing feud with neighboring business Buffalo Jim’s auto repair shop and the infamous attack on Kirk Henry, a Crazy Horse patron whose neck was broken by club security over an $80 tab. The attack left Henry paralyzed from the chest down.
For an in-depth look at the history of the club, read this Las Vegas Weekly article.
Read the Las Vegas Sun article here.
