Las Vegas developer Nick Azouz purchased the property during the 2000s, and planned to finish the project as a golf course community, accompanied by a hotel-casino.
[1][3] Emerald River had an estimated cost of $800 million, which would make it Nevada's most expensive hotel-casino project up to that point.
[9] A year later, the Emerald River project received a $133 million construction loan from the Canadian Imperial Bank of Commerce.
[5] Poor economic conditions, including the collapse of the junk bond market, left Midby with no money to complete the project.
Paine Webber foreclosed on other land a few years after the project was halted, and the company held ownership into the next decade.
[18][23][24] Laughlin's gaming industry had been hurt in recent years by the rise of Native American casinos in Arizona and California.
[23] Azouz hoped to reverse this by finishing the Emerald River project as a golf course community, accompanied by a hotel-casino.
[24] Although his proposal was supported by local residents,[24][25] the commission in 2003 decided to reject his offer for the remaining acreage, instead choosing to study the land and determine the best use for it.
"[18] Laughlin's real estate market saw improvement over the next two years, prompting the commission to put its land up for sale at a price of $13 million.
[27] In addition to a hotel-casino, Riverside's plan for the property also featured a marina and more than 1,300 residential units, including houses, townhomes, and timeshares.
[17] County inspectors continued to carry out monthly exams of the towers, which were well preserved due to the area's dry desert climate.