VEGAS, NV -- Three local casino operators are betting
they can reflag the Castaways at the head of Boulder Highway
as La Joya del Sol, complete renovations and reopen it in
December, one of the new owners said Friday.
least that's the goal of MGI Group, a partnership of Randy
Miller, Rich Gonzales and Rich Iannone that also owns
the Longhorn casino on Boulder Highway and the Bighorn
casino in North Las Vegas.
only possible delay for the partners is in securing state
gaming licences, which remains very much an open question,
Gaming Control Board Chairman Dennis Neilander said.
whose partnership bought the 50-year-old landmark property
from the Vestin Group, said the group has submitted its
gaming license applications to the state, although Neilander
said they have not been received.
said the timing for reopening the Castaways as a Hispanic-themed
hotel-casino depends on how long a state investigation
of the new owners takes, and how long after that it takes
for gaming regulators to approve the licenses.
said the individual applicants, who have gaming holdings
in Southern Nevada and Louisiana, are already licensed,
which should cut down on the necessary work to complete
the investigation. However, he said, the actual time needed
will depend on how the purchase and ownership have been
the sale of the Castaways to the new owners is contingent
only on the licensing, and Miller said Vestin, which bought
the former Showboat at a foreclosure sale in February,
is letting the trio proceed with improvements even though
the deal hasn't closed.
Group President Mike Shustek said he is pleased the MGI
Group is moving rapidly forward.
said the reflagged hotel-casino, whose name means "Jewel
of the Sun," will undergo a thorough renovation over
the next 60 days to make it what they hope will be the
most festive property in Las Vegas.
be a terrific place -- all new. It'll have all new (Southwest)
colors, a new porte cochere, front desk and lounges,"