Unless I'm mistaken they did the Wrestlemania press conference from there as well.
I'm sure it doesn't bother Vince all that much. Sure, it ended up going under, but in fairness most of the big themed restaurants in that style (eg. The Fashion Cafe; Planet Hollywood) bombed miserably as well.
Picture a couple of young, albeit haggard-looking women catfighting on shag carpeting in front of a chesterfield and coffee table. If I made this sound even somewhat erotic, that wasn't my intent, and I profusely apologize.