Rizzolo weighs new offer for club

Michael Signorelli is out at the Crazy Horse Too Gentleman's Club.

Stephen Stein, attorney for Signorelli, told the Las Vegas City Council on Wednesday that Crazy Horse Too owner Rick Rizzolo has passed by Signorelli's offer for a higher bid for the topless club.

The unknown buyer is offering $34.5 million and has $5 million in escrow, Stein said. He would not reveal how he knew of the deal.

An attorney for Rizzolo did not return calls for comment.

Any buyer would have to be approved by federal officials. They also would have to go through a police background check and be approved by the City Council, if the buyer wanted a liquor license.

Natalie Collins, spokeswoman for the U.S. attorney's office, refused comment on the matter.

Stein was confident enough that Signorelli's $31 million offer was not going to be accepted, that on Wednesday he withdrew an appeal of the city's suspension of the club's liquor license.

The city pulled the liquor license on July 1, as Signorelli missed a deadline to buy the club. The club stayed open without serving alcohol until last weekend, when a lack of customers forced it to close.

As part of Rizzolo's plea deal with federal officials, he agreed to sell the Crazy Horse Too. Upon its sale, Rizzolo would pay $17 million in fines. The deadline for the sale was July 1.

Signorelli had a short stint running the club.

The city pulled Rizzolo's liquor license in September, after he and 16 others pleaded guilty to a variety of charges.

Signorelli, who owns the Golden Steer Steakhouse, came forward in October. He had never run a strip club. But he agreed to pay Rizzolo $400,000 a month in rent, with the option to buy the club for $45 million.

He re-opened the club in October. Revenue didn't meet expectations, though, and he paid significantly less in rent.

Critics, and later the city attorney and Las Vegas police, had questioned Signorelli's independence from Rizzolo.