Taking the cube root on both sides fixes the problem, and then you don't need lots of PlotPoints any more.
ContourPlot3D[(x^2 + 9/4 y^2 + z^2 - 1) == CubeRoot[x^2 z^3 + 9/80 y^2 z^3],
{x, -6/5, 6/5}, {y, -6/5, 6/5}, {z, -6/5, 3/2}, Mesh -> None, Boxed -> False,
AxesLabel -> {"x", "y", "z"}, Axes -> False,
ContourStyle -> Directive[Red, Opacity[0.58], Specularity[Yellow, 30]],
AspectRatio -> 1.15, ViewPoint -> {-0.930, -3.137, -0.860}]

As Algohi pointed out, the problem only occurs at $z = 0$, at which the original equation becomes
(x^2 + 9/4 y^2 + z^2 - 1)^3 == x^2 z^3 + 9/80 y^2 z^3 /. z -> 0
(-1 + x^2 + (9 y^2)/4)^3 == 0
Here every zero crossing is a critical point: the function doesn't cross zero briskly like most functions do, it lingers in the neighbourhood because its derivative is zero as well. Since the ContourPlot functions find the zero crossings numerically, they have a hard time getting the location exactly right. Take your favourite ContourPlot of any function $f(x,y)=0$ and try plotting $f(x,y)^3=0$ instead, and you'll see what happens. (Though if you plot $f(x,y)^2=0$ you might not see anything at all.)
PlotPointsless than 250, I am using v9 at the moment. When I first ran the command I had to rotate/orbit the picture to the same angle as your screenshot to see the problem (artifacts along the x axis). – WolframFan Jul 26 '14 at 05:45