No one really knows (except for Toho), hopefully the rights issue can get untangled sooner rather than later.  Goodtimes went under in 2005, and although we can't be absolutely certain,  I wouldn't think the contract length would go on for too much longer (unless Toho gave them some incredible deal).  Goodtimes focused primarily on bargain priced releases (EP mode VHS, etc.) especially with their licensed content.

Return of Godzilla (aka Godzilla 1985) is in a similar rights tangle, so it hasn't had a DVD release either.   Godzilla vs. Biollante has yet to receive a DVD release -- the rights are currently with Miramax.  There was a VHS release of GvB years ago (and a laserdisc), but unfortunately nothing since the bout of VHS (and select DVDs) that accompanied the 1998 Sony movie.

Unfortunately for North American fans, TOHO does not include subtitles with their releases in Japan. 

There's still hope though, since Legendary Pictures has licensed Godzilla and is currently working on a new movie (set for a 2012 release right now).  Chances are good that we'll get to see some Blu-Ray releases around that time since Sony & Classic Media will want to take advantage of Warner's promotion for the new movie.