While Tamares lawsuit made it to a jury trial, another was settled out of court. Resort Properties of America owner David Atwell, the broker who initiated the land acquisition, sued El-Ad in June 2007 for $12.5 million, the 1% brokerage fee he felt he was owed for initiating the transaction between Tshuva and Wichita billionaire Phil Ruffin. The lawsuit was settled earlier this month for an undisclosed amount, though Atwell told GlobeSt.com "it is a considerable number, record-breaking money."

El-Ad's land acquisition for the project was first announced in May 2007. El-Ad subsequently brought on a partner, Property and Building Corp. Ltd., which is a subsidiary of Tel Aviv-based IDB Development Corp., Israel's largest business group. In March 2008, the joint venture formed for the $8-billion project, El-Ad IDB Las Vegas LLC, received approvals for its site development plan and special use permit from the Clark County Commission. At the time, the JV said design completion and the start of the excavation is scheduled to occur before the end of 2008.

Naftali told GlobeSt.com earlier this month through a representative that the project would be delayed for several months. He also confirmed that its payments on $625 million of acquisition debt from Goldman Sachs Group and Credit Suisse Group have been deferred to May 2009. "The delay is to allow us time plan and ensure the plans are fully complete and that all bids are in before construction can begin," Naftali said.