Casino or hotel bankruptcies aren't particularly worrisome to the general public, because generally they stay open for business, restructure, and re-emerge.
But when casinos and hotels begin shutting down, it's time to start worrying about the economy.
Casino MonteLago, the casino at Lake Las Vegas, will now be closing March 14.
With Ritz-Carlton last week announcing their May 2 closure within the bankrupt Lake Las Vegas in Henderson, MonteLago stated they had no choice. Possible investors who may have supported the casino disappeared once the draw of Ritz-Carlton was removed.
And now without the casino as an anchor, we suspect more closures in Lake Las Vegas will happen fairly quickly
Casino MonteLago has 177 employees who will be laid off with a 60-day severance package.
RIP, MonteLago. They were a favorite of ours because of their resort yet local feel, with fun offers for a nominal amount of play.
