[9] In 1965, J. Carlton Adair, acting for The Port Holiday Authority, acquired 160 acres on the shore of Lake Mead within the National Park Service (NPS) boundary.

Adair would exchange the Lake Mead shoreline acreage for 2243 acres of land in the Las Vegas Wash abbutting the NPS.

Barry Silverton (Pacific Malibu Development Corporation) met with the now numerous land owners and reassembled the project as Lake At Las Vegas.

All stormwater runnoff would otherwise be lost to the State on Nevada when it entered Lake Mead and the Colorado River, which are federal waters.

[12] Lake at Las Vegas Joint Venture, LLC filed for Chapter 11 bankruptcy on July 17, 2008, with their debts estimated at between $500 million and $1 billion.

The creditors' theory is that the $500 million equity loan the former insiders took against the property caused the demise of Lake Las Vegas.

In a related action, resort property owners are suing lender Credit Suisse as part of a multibillion-dollar lawsuit led by bankrupt Yellowstone Club founder Timothy Blixseth and his son Beau Blixseth who claim the Lake Las Vegas Joint Venture bankruptcy was caused by a "loan to own" scheme between the bank and resort developers.

[15] The Ritz Carlton was then reopened by international boutique hotelier Dolce Hotels on February 11, 2011, as the Ravella at Lake Las Vegas.

[14] On April 30, 2013, Kam Sang Co. announced that the Ravella would be renamed the Hilton Lake Las Vegas, the name under which the hotel continues to operate.

[17] Lake Las Vegas was the subject of a lawsuit between investment fund Claymore Holdings and Credit Suisse, which was the agent for a syndicate of entities that loaned $540 million to develop the property.