The post Vegas Legend Peter Eliades Dies at 82: The Rise and Fall of Sin City’s Strip Club Mogul appeared first on Vegas Slots Online News.
A major operation
The man behind what was at one point the world’s largest strip club has passed away at the age of 82. Peter Eliades was once known as the “King of Vegas Strip Clubs” after owning Olympic Garden and the world-renowned Sapphire Club.
attracted 1,500 patrons on a typical Saturday night at its height
The latter opened in 2002 and attracted 1,500 patrons on a typical Saturday night at its height. This 71,000-square-foot establishment behind the Stardust Casino (now the site of Resorts World Las Vegas) was home to 2,300 freelance dancers. Talking about the popularity of strip clubs in Sin City, Eliades’ daughter, Dolores, said in an interview that “Las Vegas was built over sex, gambling, and alcohol.”
Getting into the industry
Peter Eliades didn’t always own two famous strip clubs, as he originally worked in restaurants after leaving New York in 1955 for Nevada. Then he was a taxi driver for 17 years before saving enough money to buy the taxi company. His first foray into strip clubs was opening Olympic Garden in 1989. It stood out for being one of the few strip clubs in Las Vegas to have male and female dancers on separate floors.
Eliades walked away with $40m after the club was sold at auction
The success of this gentlemen’s club led to Eliades opening the Sapphire in 2002 with a partner. The Greek businessman was eventually driven out of the Sapphire by co-owner David Tallas due to disputes over control. Eliades walked away with $40m after the club was auctioned in 2006. He held onto the Olympic Garden until 2015, selling the property at a time when legal cases were mounting from disgruntled employees over pay issues.
He was back in the courts in 2018 when he sued former NFL star Dashon Goldson and his business partners after they only paid $4m of the $12.5m agreed sale price. The club closed permanently in October 2016.
Family troubles
Peter had his daughters working with him to manage his establishments, which ultimately led to family drama playing out in the courts. He sued Dolores over allegations that she owed him substantial sums of money for loans he made so she could buy an ownership stake in Olympic Garden. He also claimed that she made unauthorized withdrawals from the business.
Afroditi Eliades-Ledstrom, swerved into the wrong lane and killed another driver
There was also a tragic incident in 2007 when another of Peter’s daughters, Afroditi Eliades-Ledstrom, swerved into the wrong lane and killed another driver, which resulted in an $11.5m settlement order for the 26-year-old victim’s family. Afroditi decided to declare bankruptcy instead of paying the entire owed sum. She avoided criminal charges relating to manslaughter or even reckless driving, despite suspicions she was driving under the influence of a controlled substance at the time.
The post Vegas Legend Peter Eliades Dies at 82: The Rise and Fall of Sin City’s Strip Club Mogul appeared first on Vegas Slots Online News.
