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financial woes

Vegas’ Gay Hotel Blue Moon Files For Bankruptcy

The Blue Moon Resort in Las Vegas, one of the city’s few properties catering to the gay male market, has filed for Chapter 11 bankruptcy. Does this mean an end to 2am cruising at the grotto?

Nah. “It’s business as usual,” says manager John Hessling, who says the bankruptcy filing was just a way to keep creditors at bay after Blue Moon was unable to recover from the recession, where other Vegas properties slashed their room rates and Blue Moon was forced to follow suit ($90 a night!), albeit unsustainably.

Blue Moon Resort LLC listed assets of about $85,500 and liabilities of about $937,000 in its filing. Associated company and landlord OHDB LLC also filed for Chapter 11 in U.S. Bankruptcy Court in Las Vegas. OHDB listed assets of $3 million for the value of the Blue Moon real estate and liabilities of $3.48 million — including Colony Capital’s claim of $2.8 million. The Blue Moon, in the meantime, continues to market to gay men, offering a pool area, a Jacuzzi and grotto area and special events.

In the meantime there’s always Krave, Vegas’ other gay property on its knees.

[image via]

By:           JD
On:           Aug 5, 2010
Tagged: , , , ,
  • 1 Comment
    • BubbaE
      BubbaE

      Well, if our events don’t use the Gay Hotels, this is the cost. Fabulous Las Vegas is at a corporate place. And that is not helping ourselves.

      Aug 5, 2010 at 6:55 pm · @ReplyReply to this comment ·

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