Company to purchase NASCAR attraction

Friday, March 11, 2005 | 11:43 a.m.

Gordon Gaming Inc., owner of the Sahara Hotel and Casino, has purchased the property's NASCAR attraction from Dyer Ventures Inc. for an undisclosed sum.

The purchase is aimed at capitalizing on the "unbelievable growth of NASCAR racing and national popularity of all things related to the sport," Gordon Gaming said in a statement.

Sahara officials declined further comment today on the deal.

The 90,000-square-foot attraction includes a roller-coaster called "Speed -- The Ride," simulated NASCAR and Indy car motion rides and a NASCAR shop with licensed clothing and other souvenirs.

The purchase doesn't include the NASCAR Cafe restaurant, which will continue to be operated as an independent franchise. The restaurant was the subject of a lease dispute with Dyer in 2003 that was resolved the same year.

The roller-coaster, which loops through the Sahara's marquee sign and launches riders above the Strip, was part of a $100 million upgrade at the Sahara and has become a signature feature of the property. The roller-coaster cost about $6 million to build.

As of 2003, the cafe and roller-coaster paid about $2 million a year to the Sahara as part of its lease with Dyer. The parties split the venue's gross revenue.

The purchase comes just in time for Las Vegas' annual NASCAR race, the UAW-DaimlerChrysler 400 Nextel Cup at the Las Vegas Motor Speedway in North Las Vegas. The Sunday race will be preceeded by the Sam's Town 300 NASCAR Bush Series race on Saturday.