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Sahara Drops Eviction Action

LAS VEGAS -- The Sahara agreed Wednesday to drop its eviction action against Dyer Ventures Inc., owner of the NASCAR Cafe entertainment complex on the Strip-side of the hotel.

Mark Dyer, president of Dyer Ventures, which operates the rollercoaster and restaurant, said all the operational issues with the Sahara were resolved in a meeting between executives on both sides.

"We're moving forward now," he said.

Sahara General Counsel Matt McCaughey said the two companies "had to resolve some philosophical and operating issues."

Dyer said the 25-year lease which runs through 2024 remains in place, and that Dyer Ventures will upgrade the television viewing and dining operations.

"Watching NASCAR races on television will be better than ever at the NASCAR Cafe. When the new Las Vegas monorail opens, it will usher in an even brighter future for the Sahara and NASCAR Cafe," he said.

"(Also) we're always looking to make any improvements we can. We have a tremendous opportunity with the monorail opening up (with a stop at the Sahara) next year and are looking at a number of developments in the attractions area," Dyer said.

The lease calls on the NASCAR Cafe to pay the Sahara hotel 50 percent of its gross revenues from the rollercoaster, restaurant and related amusements.

In the three years since the 90,000-square-foot NASCAR Cafe opened, Dyer has paid the Sahara more than $6.6 million.

The 1,720-room hotel notified Dyer Ventures on May 23 that it wanted the property at 2535 Las Vegas Blvd. South vacated by this past Monday.

Gordon Gaming Corp., holding company for the 51-year-old Sahara, wrote Dyer on April 22 outlining nonmonetary defaults in the property's 25-year lease.

NASCAR Cafe said it offered to correct the alleged defaults in a "conciliatory reply." But its response was a letter saying the lease was being terminated and the cafe was being evicted, said Efrem Rosenfeld, a partner in Rosenfeld & Money, the law firm representing the NASCAR cafe.

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