Olympic Garden Strip Club Owner Pursues Ex-NFL Player For Millions Of Dollars In Ill-Fated Purchase Deal

By ALAN SNEL

LVSportsBiz.com

 

It’s anticipated the former — and now back to being current — owner of the well-known and closed Olympic Garden strip club on Las Vegas Boulevard will be legally pursuing former NFL All-Pro safety Dashon Goldson for more than $4 million after the sale of the topless cabaret to Sterling Entertainment LV, LLC , which is owned by Goldson and his partners, went awry more than a year ago.

 

Sterling, Goldson’s group, stopped making payments in February 2017 after paying only $4 million of the $12.5 million purchase price.

 

The case’s new twist came Friday morning in downtown Las Vegas.

 

LVSportsBiz.com was the only media in attendance this morning when the OG Gentlemen’s Club at 1531 Las Vegas Blvd., one of Las Vegas’ most colorful strip clubs and known for having both female and male strippers before it shuttered in October 2016, was part of a property foreclosure sale auction in the parking lot of a downtown office building at 9:30 a.m.

 

Peter Eliades, acting for Aristotle Holding LP, LLC, which sold the Olympic Garden strip club to Sterling in 2015, opened the bidding with a credit bid of $7.5 million to purchase the OG property of just less than two acres not too far from the Stratosphere in the city of Las Vegas.

 

But there were no other bidders this morning. So, Aristotle recovered title to the property and will pursue Goldson for more than $4 million in the deficiency–the difference between the amount owed to Aristotle (unpaid principle, accrued interest, and attorneys’ fees) and the sale price at the foreclosure sale. Officially speaking, Eliades is manager of PJ Enterprises LLC, which is the general partner of Aristotle Holding. The foreclosure sale was a step in pursuing Goldson. Aristotle could not go after Goldson until after it foreclosed on the property.

 

The land auction at 930 4th St., a block from both Las Vegas Boulevard and Charleston Boulevard, drew a variety of 50 people to bid on foreclosed properties in the Las Vegas area. They purchased typical foreclosed properties in the $125,000-$300,000 range.

 

But there was nothing on the auction docket close to the value of the closed OG Gentlemen’s Club. Part of the value of the OG’s property is that it has permission to use it for a sexually oriented business on the Strip.

 

In late March, LVSportsBiz.com broke the story of the sad case of Goldson and his partners’ ill-fated attempt at buying the strip club that had gambling machines. On March 27,  Eighth Judicial Court Judge Susan Johnson entered a default judgment against Goldson and two others previously for nearly $2 million for money that Eliades claimed was owed to him for consulting fees. Eliades is trying to gain that money from Goldson, too.

 

While Eliades pursues the former NFL safety for the millions of dollars, it’s expected that the property owner will likely field offers from interested buyers for the OG property.

 

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In March, LVSportsBiz.com went through hundreds of court papers, legal documents, a confidential NFL letter and even an NFL Players Association Alert issued in February 2013 about an involved character who was part of OG/Goldson strip club purchase saga to report this story.

 

Goldson, 34, from the University of Washington, played for the San Francisco 49ers, Tampa Bay Buccaneers, Washington Redskins and Atlanta Falcons.

 

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