Nevada gaming regulators today signed off on the new ownership of the Gold Strike casino, paving the way for associated development along the freeway in the area between Las Vegas and the California border.
The Nevada Gaming Commission approved JETT Gaming’s purchase of the Gold Strike, located just off the 15 freeway in Jean, after the Gaming Control Board gave its preliminary approval two weeks ago. MGM Resorts International announced in October that it was selling the Gold Strike to JETT, a slot machine route company run by members of the Herbst family.
JETT’s Tim Herbst told the commission today that the Gold Strike area is poised for substantial changes.
On the southwest corner of the area, Herbst is envisioning a large truck stop-type facility: a travel plaza with dozens of fueling spots and a 15,000 square-foot convenience store. It could be one of the largest service stations and travel plazas in the western United States, he said. On the northwest corner of the area, Herbst plans to build space for 20 quick-service restaurants with a “walking mall” in the middle.
Herbst indicated to regulators that the real estate plans are the main focus in JETT’s acquisition of Gold Strike.
“This is an exciting commercial real estate play, and it just happens to have a hotel-casino on it,” he said.
As for the Gold Strike casino floor, Herbst is looking at reducing the number of games from 450 to 200 to better match the property’s gaming revenue, which he described as “struggling.” He is hopeful that the real estate plans for the intersection will boost casino business.
The Gold Strike opened in 1987 and became an MGM Resorts property when that company acquired Mandalay Resort Group in 2005.
MGM Resorts also recently sold the Railroad Pass casino in Henderson near Boulder City.