Federal authorities are hurriedly looking for a buyer for the former Crazy Horse Too in lucrative Las Vegas, Nevada.
The strip club is for sale following the 2006 guilty plea for tax evasion of former owner Rick Rizzolo. Rizzolo, currently serving a one-year federal prison sentence, was ordered to sell the club to raise $17 million dollars to pay court ordered settlements and forfeitures. After Rizzolo failed to the sell the club it was seized by the federal government and is currently in the possession of the Marshals Service.
The government is eager to sell Crazy Horse Too which is currently closed because the club will permanently lose its liquor license if it isn’t reopened by December 31st, making the club worth significantly less than the current estimated market value of mid-$30 million. The club will lose its liquor license because of zoning laws that prohibit sexually oriented businesses from being located within 1500 feet of each other; there is another one nearby.
The Las Vegas office of CB Richard Ellis is handling the marketing of the club. So if you have around $35 million laying around or are able to obtain financing to close the deal and get it reopened in time, you may want to consider this rare opportunity to own one of Las Vegas’ former top gentlemen’s clubs.