Vacation Village was a hotel and casino located on 3 acres (1.2 ha) of land at 6711 South Las Vegas Boulevard in Enterprise, Nevada.

The hotel-casino struggled through financial difficulties and various legal problems during its final years, and was eventually auctioned to millionaire Shawn Scott in 2001, after the Heers family failed to pay off a $19 million loan.

In 1964,[3] brothers Carol and Chuck Heers purchased 25 acres (10 ha) of land on Las Vegas Boulevard, south of Sunset Road,[4] with the intention to construct a hotel and casino.

At the start of construction, Vacation Village was to include 439 hotel rooms, nine restaurants, and approximately 45,000 sq ft (4,200 m2) of casino and public space.

[11][13] Plans for the hotel towers were derailed in 1990 due to new height restrictions after a decision was made to expand the north runway at McCarran International Airport.

[2] Two years later, the Heers family lost the hotel-casino to bankruptcy,[4] as they could not refinance the property after its value declined due to the height restrictions.

[33] Carol Heers' company and the owner of Vacation Village, CEH Properties Limited, filed for Chapter 11 bankruptcy in October 1997.

Foothill alleged that the two companies failed to repay the $19.4 million loan, which was secured by the hotel-casino and a shopping center owned by Shangri La.

[38] Terri Heers Thompson, a 20-percent shareholder in Vacation Village,[23] said the hotel-casino intended to pay off the $19 million loan within 60 to 90 days.

The hotel-casino was to be renamed the Holiday Inn Las Vegas after new financing was obtained and the property had been upgraded to meet the hotel chain's standards.

Foothill claimed that after the bankruptcy filing, it notified Vacation Village of its objection to the hotel-casino's "unsupervised" use of cash collateral "without an appropriate offer of adequate protection."

Foothill claimed that Vacation Village ignored numerous telephone calls and letters, and that it failed to receive court approval to use its cash collateral.

Foothill also alleged that the hotel-casino had failed to provide numerous documents, which included monthly operating reports dating from August 2000 to November 2000.

At the time, it was believed that Vacation Village was located too far south on the Strip to attract tourists and that it was lacking the amenities to appeal to local residents, although Terri Heers Thompson said the hotel-casino generated an average monthly profit of $1.25 million.

[23] In June 2001, Foothill Capital moved forward with plans to force a sale of the property and its gaming equipment in an auction, to recover its $19 million loan.

A U.S. Bankruptcy judge rejected Vacation Village's request to remove Nelson, and ordered the hotel-casino to cooperate with the auctioneering company.

[43][44] Vacation Village also alleged that Nelson threatened to destroy the hotel-casino's business and its owners after he was told that it was trying to get a court ruling to remove him.

However, various people related to the hotel-casino–including its owners, managing partners, and their family relatives–received what Foothill referred to as "unauthorized" payments without court approval or explanation, totaling $70,000 to $80,000 per month.

Laura Fitzsimmons, an attorney for Vacation Village, said that the hotel-casino should be entitled to part of the land: "We want the court to decide who has rights to that property.

That's important to us because Vacation Village can't build upwards due to height restrictions imposed by Clark County.

[2] Jim Norcott, a member of the hotel-casino's board of directors, said it closed as a result of failed lease negotiations between Scott and the Heers family.

Scott denied Norcott's claims, saying he took possession of Vacation Village because a lease agreement could not be reached with the Heers; and because he felt the casino needed a stable gaming operator, citing the hotel-casino's recent problems.

[2] A major reason for the closure was because Scott was in talks with two local gaming operators about a potential joint venture to redevelop the property, possibly under a new name.

Scott had plans to increase the property to approximately 1,500 hotel rooms, and to add several new restaurants and more than 1,500 slot machines, as well as a movie theater.

[19] In January 2004, the closed hotel-casino was sold for $25.5 million to Centra Properties and Turnberry Associates, which expected to demolish Vacation Village by the end of the year to make room for a retail center, which would ultimately open as Town Square in 2007.

[23][59] Between October 1999 and November 2000, Vacation Village was expanded to include two bars, a liquor store, a bingo hall, a race book, and a wedding chapel.

[25] At the time of its closure, Vacation Village included a 15,000 sq ft (1,400 m2) casino with 10 table games and 700 slot machines.