Las Vegas Sun

November 27, 2009

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Landlord takes over theme park

Tuesday, June 5, 2001 | 10:55 a.m.

The defunct All-American SportPark in Las Vegas has been turned over to the theme park's landlord to satisfy loans and other debts.

Urban Land Co. of Nevada, a real estate development company, has opened the park's batting cages on weekends and plans to refurbish the interior of the park for an August reopening.

Terms of the agreement between All-American SportPark Inc. and Urban Land say all liabilities have been removed from park management, back rent obligations for the Callaway Golf Center have been canceled through April 30 and All-American will keep a 65 percent interest in the nine-hole lighted golf course, which will remain open.

Urban Land will have a 35 percent nonvoting interest in the golf course. All-American will continue to operate the golf course and a retail golf and tennis store in Las Vegas.

A spokesman for All-American said debts and obligations of the company were about $20 million at the time of the transfer.

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