A popular downtown restaurant, Peyote at Fergusons Downtown, has closed.
Our friends at Channel 8 were the first to report the closure, but they mischaracterized it, a lot. The problem with our town’s crappy restaurant journalism (“non-existent” would probably be a more accurate term) is they often get the story wrong, and others just regurgitate the same misinformation.
The closure didn’t “come without warning,” nor was it “unpleasant,” as has been reported. We’ve got the scoop you need to know to impress people at your neighborhood bar, where we assume everyone talks about Las Vegas 24/7. If not, find yourself a new neighborhood bar.
Anyway, Peyote’s last day of service was April 28, 2024.
That night, the owner of Peyote, Ryan Doherty (his company is Corner Bar Management), hosted a dinner to chat with employees about the closure and to spend some time with his Peyote team.
News reports make it sound like employees are being left high and dry because of the closure, but about 21 of the 25 Peyote staffers already work elsewhere in the Corner Bar Management family. Many employees bop between downtown venues like Park on Fremont, Lucky Day, Discopussy, La Mona Rosa, Cheap Shot, Commonwealth and its Laundry Room, as well as We All Scream. The closure of Peyote means they just pick up more shifts at these other venues.
Don’t fret, though, if you love drama, there’s plenty!
See, Fergusons Downtown is part of the estate of Tony Hsieh. Hsieh’s estate has been slowly selling off some key downtown assets, and the suspicion is they’re looking to sell Fergusons as well. Several key tenants have moved out, and aren’t being replaced.
The Hsieh estate talks a good talk about supporting those who want to help preserve Tony Hsieh’s vision, but they’re just cashing in. A good example of the estate’s vision theater is demanding the Tony Hsieh mural on the Inspire building not be touched for a decade. We’ve been told Tony Hsieh would’ve absolutely hated that mural.
The last thing you want to deal with when selling a property is pesky tenants, so Fergusons is being emptied bit by bit. Mothership Coffee, F the Bar and a few retail shops are about the only businesses left, but give it a minute.
It’s been reported the closure of Peyote is temporary, but it is not. Peyote has closed permanently.
On the bright side, Ryan Doherty recently announced he’s taking over Artifice in the downtown’s Arts District to open The Doberman. The Doberman is like one of those snooty private social lounges (like Poodle Room at Fontainebleau or Zero Bond coming to Wynn), but without the snooty part. Yes, we forgot to write a story about it, but if Ryan Doherty’s involved, it will be cool and won’t break the bank.
We hope that clears up any misunderstandings about Peyote’s untimely demise, and while we enjoyed our visits, it was always a little uncomfortable venturing that far east.
Tweaking isn’t exactly the “ambiance” restaurant operators crave.
Downtown has a lot of challenges if you stray too far from Fremont Street Experience and the Fremont East district. The hope has been another Tony Hsieh would swoop in and carry on Hsieh’s passion for community-building and investing in downtown. The fact is, there isn’t another Tony Hsieh. Few see downtown’s long-term potential (beyond the tourist corridor) and even fewer have pockets deep enough to turn that potential into reality.
We trust Hsieh’s family found him as eccentric as many others did, so they’re more interested in liquidation than deification or elevation or percolation or pollination or prolongation or renovation or acceleration, or any number of other words that rhyme with “liquidation.”
Some heavy hitters are reportedly being shown around downtown, so the future of the area could hold some genuine surprises.
Sadly, Peyote won’t be around to see it.
Peyote means “caterpillar cocoon,” by the way, and the plant is known for its hallucinogenic properties, often causing feelings of euphoria. You knew we had to end our story on a high note.
