The pandemic hurt the big casino players MGM Resorts International (MGM) and Caesars Entertainment (CZR), but those companies had deep pockets and the ability to raise money or take on debt.
It wasn't easy seeing Las Vegas and really the entire state of Nevada shut down, but the giants of the field who dominate the iconic Las Vegas Strip had the resources to weather months of closures, over a year of pandemic-related rules, and convention cancellations, as well as a large percentage of Americans being reluctant to travel.
Las Vegas and Nevada aren't just home to the big casino names. For every Caesars Palace or MGM Grand, there are a couple of smaller, funkier properties that offer a different kind of charm, either in Las Vegas or elsewhere in the state.
At these casinos, which sometimes have legendary names and sometimes just ones that seem like they have history, you can still find 99-cent shrimp cocktail, $2 blackjack, and old-school slots instead of the new-fangled electronic one.
One of those half-iconic, half-ironic casinos -- Terrible's Hotel & Casino, located south of Las Vegas in Jean, Nevada -- closed due to the pandemic and some new report suggests it's unlikely it will reopen.
Image Source: Jett Gaming.
A Sad End to a Historic Casino
Terrible's Hotel & Casino used to operate as the Gold Strike, when it was an MGM property, according to Vegas Vantage. It was acquired when MGM bought the Mandalay Bay property before it was ultimately sold to JETT gaming in 2015.
Under MGM, the casino had an old-school feel that may have not been intentional.
"Gold Strike seemed like a dumping ground for old MGM machines during its ownership era. It was mostly coin games. Any game that did not dispense coins required a hand pay," the website reported.
The casino closed on March 17, 2020, and did not post anything new on its social media feeds until it posted an ominous post on Nov. 21, 2021 that suggested it would not be reopening.
"Terrible’s Hotel & Casino will not resume gaming operations for the foreseeable future. Players with active accounts on the day of closure (3/17/2020) will be able to redeem available slot points and Comp Dollars earned during the 18 months prior to closure at select Jett Gaming locations for 90 days following the date of 11/22/2021. Please visit our website at terriblescasinojean.com to learn more."
Now, a new news report from the Las Vegas Review-Journal makes clear that the closure is permanent.
From a Kitschy Casino to a Warehouse?
"Reno developer Par Tolles’ namesake firm has drawn up plans for a 1.9 million-square-foot warehouse and distribution complex along Interstate 15 in Jean, a remote outpost some 25 miles south of the Strip whose only residents are the inmates at a state prison," the paper reported.
The plans include the location that was once Terrible's Hotel and Casino. In the legal notice, the developer asked for zoning changes for both future warehouse development and a potential distribution center.
Clark County's commissioners were expected to consider the plan Feb. 16, but it seems likely to pass given the lack of options for the site.
"Tolles Development Co. is under contract to buy the sprawling project site and hopes to break ground on the first few buildings within the next 12 to 18 months," partner Cory Hunt told the Review-Journal.
This means a near-certain end for the casino that, while less than a famous property, was a unique part of the overall Nevada gaming scene. Jett Gaming owns a number of other casino properties, some of which are operating in limited capacities.
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