Bank sues Las Vegas theme park for loan payment

Tuesday, Oct. 3, 2000 | 10:47 a.m.

Nevada State Bank has filed suit against the owners of a Las Vegas sports theme park, accusing them of defaulting on a $13.5 million loan.

The bank filed suit in Clark County District Court against All American SportPark LLC, which operates a family entertainment center at 121 E. Sunset Road.

The suit says park owners signed a term loan agreement in September 1998 and defaulted on $140,584-a-month payments in August 1999. The variable-rate loan was accruing interest at a rate of 9.38 percent, but the default rate became 15 percent.

The bank is seeking $15.3 million in unpaid principal and interest as of September 2000.

A representative of the theme park could not be reached for comment on the allegations.

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