Lone Star Funds, former owner of the site along Las Vegas Boulevard, obtained county approval in 2012 for a 7 million-square-foot project.
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The new owners of the Drew property did not release details Thursday on their plans for the site, including whether they will change the name back to the Fontainebleau or when they expect to resume construction.
With the Aviators going dark this year , the brunt of the financial pain falls on team owner Howard Hughes Corp.
With a string of casinos along the Colorado River some 100 miles southeast of Las Vegas, Laughlin is popular with retirees who drive in and offers low-priced rooms, buffets and plenty of sunshine and open desert.