Based in Las Vegas, Douglas french writes about the  economy and book reviews. 

Big Boom and Big Bust, Jiggle Lives On

Big Boom and Big Bust, Jiggle Lives On

Despite the rebound in Las Vegas residential housing prices, some palaces haven’t seen even a dead cat bounce. Consider 22,000 square feet at toney Queensridge changing hands for only $6.2 million.  With two pools, two spas, a lazy river, and basketball court, what more could you want? And if only the walls could talk? Strip club mogul Mike Galardi’s old place surely would reveal some X-rated tales.

Back at the peak (2006) the place went for $14 million to Kenneth and Michelle Black as Mr. Galardi was provided less than plush accommodations somewhere else, courtesy of the government.  After being on the market for 392 days, the five-bedroom, 10-bath three-story was listed at nearly $6.8 million when the Blacks sold it.

Of course the real strip club mogul was Mike’s father Jack Galardi, who passed away in 2012 at the age of 81. As John L. Smith wrote, “Few have enjoyed as much success combining skinny girls and whiskey as Jack Galardi.”

While his son was caught up in the G-Sting political corruption scandal that sent four county commissioners to prison, Jack went about his business of running numerous clubs in the southeast, and was never implicated.

This writer can attest that Jack was a stand guy and this story sounds just like him. “Jack Galardi didn’t like reporters,” wrote Smith, “certainly not this one, but he did have a soft spot for the late Review-Journal columnist Ned Day, who once marveled in print after two paychecks he’d lost while doing extensive late-night research at the old Crazy Horse were returned to him by one of the forthright ladies and courtesy of Mr. G.”

One would never guess the elder Galardi was a multi-millionaire. A reporter for the Sun wrote, “Galardi didn't dress the part of a nightclub mogul for the interview, however. He wore jeans, a powder blue polo shirt and a black leather bomber jacket with his name stitched on the front and the logo of one of his companies, Galardi South Enterprises, on the back.”  

“He was not mafia-connected in any way,” daughter Teri Galardi told the R-J when he died. “He was a self-made man and a wonderful entrepreneur who helped hundreds of people. Many men came up to me and called me and told me he was more like a father to them than their own fathers."

Mike Galardi’s house may have traded for a song, but, Cheetah’s, the club that produced the cash and behind which Mike Galardi claims Councilwoman Erin Kenny performed sexual favors for him, is still, in the family. Western Property Holdings, LLC. whose manager is Teri Galardi.  

My sources tell me the jiggle business isn’t what it once was, when chronicled by Brent Kenton Jordan in hius book “Stripped.” However, Spearmint Rhino has erected a fancy new facade, while Sapphire is reportedly the world’s largest gentlmen’s club. Men’s Health voted both clubs into its Top 10 in the nation.

CNBC reports that through boom and bust, strip clubs thrive. The dancers, not so much. “According to data from the largest ever study on the global lap dancing industry, conducted by a leading British university, the economic downturn has hit dancers' incomes hard, particularly given the fees and costs the women have to bear.”

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More Houses, More Squatting

More Houses, More Squatting

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