(2000–2004) Harrah's refused to sell the Showboat name, not wanting the Las Vegas property to be confused with Showboat Atlantic City, so VSS renamed it as the Castaways. The new owners never did well and according to the Associated Press, the facility was crippled by a downturn in tourism that occurred in the wake of the September 11, 2001 attacks. Discussions were held in 2002 to rebrand the property as a Holiday Inn and start a $57 million renovation and expansion, but these plans did not come to fruition. After VSS missed a payment on the property's $20 million mortgage, Vestin Mortgage began foreclosure proceedings in June 2003, prompting the Castaways to file for Chapter 11 bankruptcy protection, listing $50 to $100 million in debt. The property was allowed to remain open, until January 29, 2004, when the Bankruptcy Court determined that VSS was improperly spending money, and allowed Vestin to take possession of the Castaways, shutting it down. Vestin agreed to sell the property for $21.6 million to MGI Group, owners of the Bighorn and Longhorn casinos, who planned to rebrand it as La Joya del Sol and market it to Latino customers. Before MGI's license application could be approved, however, Station Casinos stepped in and paid MGI $12.1 million to take their place in the deal, paying Vestin the full $21.6 million. Station was primarily interested in the site's grandfathered gaming license, soon determining that the existing structures were not usable and had construction quality problems. Demolition began in July 2005, and the hotel tower was imploded by Controlled Demolition, Inc. (CDI) on January 11, 2006. The company made plans for a $90 million casino and restaurant with a Spanish motif, named Castaways Station. By 2009, however, no progress had been made, and Station, itself on the verge of bankruptcy, put the lot up for sale for $39.5 million. As of 2014, however, Station still owns the property and, to keep its development options open, has been allowing a portable casino to operate on the site. This is because of a loophole in the law that allows a gaming license to be renewed so long as a casino is on the property and open to the public for at least eight hours every two years. In 2016, Station put the property up for sale again. Within a few years, the company sold 25 of the 30 acres to