Oasis in Mesquite may reopen
Rumors of the death of the Oasis in Mesquite have been greatly exaggerated.
During a hearing on the Chapter 11 bankruptcy reorganization of Black Gaming LLC, company officials said one of the proposals on the table is to tear down the Oasis Casino, which saw its operations significantly reduced in December 2008.
However, Black Gaming Chief Executive Officer Randy Black Sr. said Wednesday there is not a timetable for the property's demolition. He said the 900-room hotel-casino might fully reopen if the market turns around.
"It's a plan, but that's about it for now," Black said. "We have to do some research into it, but we don't have any plans yet going forward."
The Oasis still has 16 slot machines operating to preserve its gaming license. Black Gaming operates two other properties in Mesquite: the Virgin River, which has 717 hotel rooms; and the CasaBlanca, which has 472 hotel rooms and 24 time share units.
The Oasis hotel, which contains several time share units, is used for overflow when the Virgin River and Casablanca are filled.
Gaming revenues in Mesquite fell almost 17 percent in 2009 and are down 6.5 percent through the first three months of 2010.
Black Gaming filed for Chapter 11 bankruptcy in March, reaching a deal with approximately 80 percent of its lenders.
Under the agreement, Black Gaming's debt will be reduced from $200 million to $62.5 million through a more than $18 million cash investment from Black, Newport Global Advisors, Anthony Toti and South Point casino owner Michael Gaughan.
The partners will own 100 percent of Black Gaming. Gaughan's South Point casino will operate the race and sports books at the Mesquite casinos and will provide some back-of-the-house management services.
If the Oasis were to be demolished, Black said he was unsure of what would become of the property's 26 acres.
The Oasis Golf Course is not part of the Black Gaming bankruptcy and is a separate stand-alone operation.
Contact reporter Howard Stutz at
hstutz@reviewjournal.com
or 702-477-3871.
