Investors Sue After NFL Legend Emmitt Smith's Failed Las Vegas Restaurant Opening Allegedly Led To A Loss Of $67M

According to the Las Vegas Review-Journal, Emmitt’s was set to open in the city’s Fashion Show Mall in 2022. However, almost two years later, not only is there no restaurant, but it is said that money has been lost

In a lawsuit filed by Chef Rainer Schwarz, he alleges that some of his former business partners did not follow through on their promises after being tapped to join the new venture.

Per the report, Chef Rainer LLC argues that “unless defendants are enjoined, it will not receive more than $67 million in salary and profit sharing it is entitled to under the management agreement.”

Through his Chef Rainer LLC, Schwarz claims that the people he was previously working on the project with “arranged a conspiracy to steal the opportunity to open and operate Emmit’s for themselves while cutting Chef Rainer LLC and Trilogy out of the deal entirely.”

Additionally, according to the suit, Trilogy F&B Group LLC was one of the four entities, including Schwarz’s company, that entered into an operating agreement in October 2021 to “develop, design, own and operate restaurants, lounges, and entertainment venues under the name of ‘Emmitt’s.’”

What’s more, a minority owner of Trilogy, Valley Water Mill LLC, has been listed among the defendants in the case.

Per the complaint, in May 2023, it is said that the company purposely changed the locks to Emmitt’s, which in turn prevented the chef and others involved in the deal from having proper access to the restaurant.

Additionally, the suit says the defendants not only “unlawfully assigned Trilogy’s lease to Valley Water Mill,” but also reportedly “formed a new corporate entity to replace Chef Rainer LLC and usurp its rights under the Management Agreement, including by engaging alternate vendors and contractors.”

The complaint also notes that, to date, Chef Rainer LLC spent over $2.2 million due to costs related to the previously planned opening of Emmitt’s, including staff hiring, vendor contracts, and more.

At this time, the court documents report that $1.1 million of the money spent has yet to be reimbursed.

Although the renowned athlete was not named in the official lawsuit, Smith’s limited liability company is one of the entities that entered into the initial agreement alongside Trilogy and Chef Rainer LLC.