N.M. racetrack suitor sued in LV

Friday, Dec. 17, 1999 | 12:11 p.m.

A Las Vegas company attempting to purchase a New Mexico racetrack has been sued in state court over alleged non-payment of rent on its Las Vegas restaurant.

A Clark County District Court lawsuit, filed by New York-based New Plan Excel Realty Trust Inc., accused Star Entertainment Group of failure to pay $65,000 in rent on Sneakers All-American Restaurant and Bar at 2250 E. Tropicana Ave. Star guaranteed the lease signed by Sneakers of Nevada, a Phoenix-based sister company owned by Star Entertainment President Michael Britton.

The suit said Sneakers of Nevada assumed the lease for the property in October 1998. The lease called for a monthly rent payment of $5,738, plus 6 percent of all gross sales. Despite failure to pay rent, New Plan says the company has refused to surrender the property.

The lawsuit asks for payment of all overdue rent and a judicial order forcing Sneakers to surrender the property to New Plan.

Star Entertainment has signed an agreement to purchase the Santa Fe Downs racetrack from a New Mexico tribe and says it plans to spend $20 million on the track's renovation. The company also says it is building a $26 million casino in Beirut and is negotiating with Russian officials to build a $20 million racetrack in Russia.

Star Entertainment officials could not be reached for comment on the lawsuit.