Developer’s plans to buy old Wet ‘N Wild site are off
A Texas-based developer's on-again, off-again attempts to buy the old Wet 'N Wild site are off again.
An investment group led by Christopher Milam let expire this week an agreement to purchase the 27-acre tract for $618 million from a land subsidiary of Archon Corp., a morning filing with the Securities and Exchange Commission shows.
The December agreement called for Milam to make a $1,000 deposit by Tuesday and purchase 60,000 shares of Archon stock for $60 million by the same date to execute the contract.
Milam did not return an e-mail seeking comment on the land's status.
Clark County officials approved the site for a 1,064-foot hotel tower in December 2007.
