There really is water in the desert and Olympia Gaming L.L.C. plans to give visitors to its new hotel and casino a front and center view of it. The Las Vegas-based gaming development company just announced that it will build a new $500 million lodging and gambling facility at RED Development L.L.C.’s planned Legends at Sparks Marina outdoor shopping and entertainment destination in Sparks, Nev. Work on the project, which is being billed as a casino resort and spa, will likely get underway during the first quarter of 2007.