The property is being marketed as a potential resort destinationthat could also incorporate commercial and residential developmentin support of the local casino industry, in which Nevada Gold has astake. Nevada Gold CEO Robert Sturges says the auction is a "keystep" in the company's efforts to dispose of non-core assets.
The sealed-bid auction by Sheldon Good & Co. will take placeon Aug. 2. The reserve price is $4 million.
Nevada Gold & Casinos Inc. owns a 43% interest in the entitythat owns and operates Isle of Capri-Black Hawk and ColoradoCentral Station casinos in Black Hawk. The company also owns andoperates the Colorado Grande Casino in Cripple Creek.
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