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(Though the following history of the property is quoted directly from Wikipedia, it is definitely interesting and worth reading.)
Lake Las Vegas is a 320-acre man made lake surrounded by 3,592 acres developed by 5 companies.
When first opened in 2003, the area included several hotels and casinos including the Monte Lago Village Resort, the Westin Lake Las Vegas Resort, the Hilton Lake Las Vegas, and Casino MonteLago.
Lake at Las Vegas Joint Venture, LLC filed for Chapter 11 bankruptcy on July 17, 2008. Debts were estimated at between $500 million and $1 billion.
Lake Las Vegas emerged from bankruptcy in July 2010. The creditors have filed a lawsuit against the former insiders. In a related action, resort property owners are suing lender Credit Suisse as part of a multi-billion dollar lawsuit claiming the bankruptcy was caused by a scheme between the bank and resort developers.
The golf course was purchased by Nevada South Shore LLC, a Hawaii based corporation for $4.5 million on February 17, 2011.
The Ritz Carlton, Lake Las Vegas, closed after 8 years of operation on May 2, 2010.
The former Ritz Carlton was reopened on February 11, 2011. The property was renamed Ravella at Lake Las Vegas. On April 30, 2013, Kam Sang Co. announced that the Ravella would be renamed the Hilton Lake Las Vegas. The Hilton opened June 6, 2013. The casino closed in October 2013, as a result of a lease dispute between Kam Sang and the casino’s operators.
From a TripAdvisor.com review dated October 18, 2014:
The golf course is closed, the casino is closed (“seeking a buyer”), the village is eerie and empty. There are “For Sale” signs on several properties around the area. Everything shut down when the economy crashed in 2008. Will not return any time soon.