![\"\"](\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/04\/Colliers-photo.jpg\" "\\"Colliers")
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Recently I was asked about the future of the Key Largo Casino<\/strong>, long defunct — a casualty of last decade’s condo craze. The photo above is some handiwork of Colliers International<\/strong> and I’ve borrowed it to illustrate the excellent geographical position of Key Largo: just west of Terrible’s<\/strong> and a couple blocks north of the Hard Rock Hotel & Casino<\/strong>. So you could develop some critical gaming mass here, especially since the land still has an unrestricted gaming entitlement<\/a>.<\/p>\n Trouble is<\/strong>, the owner wants $5.95 million\/acre, and the structure’s been sitting derelict so long you’d undoubtedly either have to gut it or bulldoze the place and start over. It’d be strictly a locals-market play and, at that price, you’d have to want to get in pretty bad. It’s also a small footprint of land. Station Casinos<\/strong> has passed on better opportunities even closer to the Strip (the Westin Casuarina<\/strong>, for one) and may be in the process of offloading a big real estate parcel. (I’m still looking into that.) Boyd Gaming<\/strong> is in stand-pat mode and Cannery Casino Resorts<\/strong> would balk at the asking price. Unless the Nevada Legislature<\/strong> is prepared to waive the 200-hotel-room requirement for new casinos, sites like these appear to have little future.<\/p>\n My apologies<\/strong> to all S&G<\/em> readers for having to be subjected to a personal insult from some anonymous troll against reader Mike Alexakis<\/strong> that made it through the spam filter and into our e-mail in-boxes. The offending party also posted false information about himself and has been blacklisted from commenting in this forum again. Once more, my deepest apologies.<\/p>\n \n","protected":false},"excerpt":{"rendered":" Recently I was asked about the future of the Key Largo Casino, long defunct — a casualty of last decade’s condo craze. The photo above is some handiwork of Colliers International and I’ve borrowed it to illustrate the excellent geographical … Continue reading ![\"\"](\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/04\/Southern-Highlands.jpg\" "\\"Southern")
Stick a fork in it<\/strong>. It’s been pretty much assumed that Gary Goett<\/strong>‘s $750 million Southern Highlands Casino-Resort<\/strong> was dead. Now you can write its epitaph. Although Collier’s doesn’t list the failsino (which was to have opened almost three years ago) on its site, a billboard across the road from M Resort<\/strong> advertises 100 acres for sale. It just so happens that SHC-R was to have been built on 100 acres<\/a> “at Interstate 15<\/strong> and St. Rose Parkway<\/strong>,” that very spot. One can’t blame Goett for folding his hand. The success of SHC-R was predicated upon retail and residential development having reached the I-15\/St. Rose interchange years ago. Hasn’t happened. Also, he didn’t have a name-brand operating partner for his casino and going forward would mean butting heads with soon-to-be M owner Penn National Gaming<\/strong>. You might say the market finally got the developer’s Goett.<\/p>\n