Founder of Laughlin buys Arizona land near Colorado River for $15 million

KINGMAN, Ariz. -- The man who founded a Southern Nevada community and turned a bait shop into a casino more than 30 years ago spent $15 million Thursday to purchase prime real estate along the Colorado River in Arizona.

Yet Don Laughlin doesn't know what he'll do with the near 69-acre parcel in Bullhead City, across the water from the Riverside Resort Hotel Casino he owns and operates in Laughlin.

Laughlin was the only party to bid for the publicly owned property that the Arizona State Land Department sold at auction on the steps of the Mohave County Courthouse. An application submitted by California-based Brentwood Partners, LLC led to the sale but Brentwood didn't bid come auction time.

Laughlin said he might reserve a couple of acres for parking but doesn't have a specific plan for the rest of the parcel.

"With the economy the way that it is, we can't say we're going to jump right ahead," Laughlin said. "We'd like to do something with it. I think it's an eyesore the way it is."

Transients and lizards have camped on the acreage that is overgrown with vegetation.

Mayor Jack Hakim and other Bullhead City officials have hoped for a sale that would trigger favorable development that could serve as a gateway to an undeveloped fringe of the community.

"It's been there since before the city was incorporated (1985) and it is an eyesore," Hakim said. "I'm pleased to hear Mr. Laughlin say it needs to be developed."

Laughlin said he's not a developer but that he's been talking to unidentified parties since it became known that he was interested in buying the land. But he also said he's accustomed to sole proprietorship in business ventures.

"I don't like partnerships but I'm sure we'd be open to suggestions or deals that made any sense," Laughlin said.