Golf courses in Greater Reno-Tahoe are becoming as well known for their red ink as their green grass.
Equity on privately owned golf courses has evaporated as real estate values have plummeted. In some cases, the water rights linked to a golf course are worth far more than the golf operation.
Courses across the region have struggled to remain solvent, and several have closed, victims of dwindling revenues attributed to reduced play, declining memberships and rising operating costs.
However, in an area saturated with golfing options, the courses remaining are in better position to draw from the region's small but …