The Lucky Dragon saga has taken yet another odd turn. The failed casino was purchased for $36 million by the owner of an equipment rental company, Don Ahern.
The biggest surprise is we didn’t break the story. Best poker bonus no deposit. Ha, ha. We find us hysterical.
The Las Vegas Review-Journal reports the Lucky Dragon sale closed on April 22, 2019 with Don Ahern, CEO of construction equipment firm Ahern Rentals.
Please try to contain your excitement.
May 25, 2017 Las Vegas Tourism Las Vegas Hotels Las Vegas Bed and Breakfast Las Vegas Vacation Rentals Las Vegas Vacation Packages Flights to Las Vegas Las Vegas Restaurants Things to Do in Las Vegas Las Vegas Shopping Las Vegas Travel Forum Las Vegas Photos Las Vegas Map Las Vegas Travel Guide All Las Vegas Hotels; Las Vegas Hotel Deals. Apr 23, 2019 The Lucky Dragon Casino was one of Las Vegas’ shortest-lived projects. It was sold for a fraction of the price it cost to build on Monday and for less than the debt owed to its main creditor. The Las Vegas Review-Journal reports the Lucky Dragon sale closed on April 22, 2019 with Don Ahern, CEO of construction equipment firm Ahern Rentals. Please try to contain your excitement. The new owner plans to re-open the Lucky Dragon under a new name (a solid strategy) as. Lucky Dragon Las Vegas is located at 300 West Sahara Avenue in The Strip, 2.5 miles from the center of Las Vegas. Stratosphere Tower is the closest landmark to Lucky Dragon Las Vegas. When is check-in time and check-out time at Lucky Dragon Las Vegas? NASCAR latest sport to expand reach in Las Vegas A view of the Fremont Casino. (Courtesy of Steve Marcus, USA Today) Long a popular tourist destination, Las Vegas now is a hot spot for not just sports bettors - but major-league sporting events. The NHL has arrived, NASCAR has doubled down and the.
The new owner plans to re-open the Lucky Dragon under a new name (a solid strategy) as a non-gaming hotel (insert sad trombone here).
Ahern says he will turn the Lucky Dragon’s casino space into conference and convention space. The sad trombone player is being put through his paces on this one.
The Asian-themed Lucky Dragon closed in October 2018, probably because the casino had no craps table. And we couldn’t find a slice of pizza to save our life.
Dibs on…nevermind.
While $36 million is more than we expected a buyer to pay (a bankruptcy auction garnered zero bidders), it was considerably less than what was owed on the hotel, about $50 million.
In the Las Vegas Review-Journal article, Enrique Landa of Associate Capital (linked to the Lucky Dragon’s lender, Snow Covered Capital) said, the Lucky Dragon “is a terrific property with a bright future.”
It’s just that kind of extraordinary vision and business acumen that helped the Lucky Dragon trainwreck happen.
You do not, by the way, want to delve into the financial wheelings and dealings of this whole debacle. Easy riches slot machine. About 179 EB-5 investors have been left holding the bag, losing $550,000 each because the casino didn’t stay in operation long enough for the investors to earn their promised green cards.
Lucky Dragon’s challenging location made it a longshot from day one, so it’ll be interesting to see what the new owner might have in mind.
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Lucky Dragon Las Vegas Closed
We’re seeing some cross-promotional ideas with Dig This, for starters.
And we just registered ExcavatorDragon.com. Just saying.
Lucky Dragon Las Vegas Closed
The struggling Lucky Dragon resort has closed its casino and restaurants.
We were the first to report Lucky Dragon was recently put up for sale, and while the resort’s hotel continues to take reservations, entrances to the casino have “Casino Temporarily Closed” signs.
“Temporarily” sounds a little optimistic at this point.
Lucky Dragon’s casino and restaurants closed on Jan. 4, 2018.
Lucky Dragon has had a tumultuous history, including ongoing questions about whether the Asian-themed, boutique resort would be financed or completed.
Even a massive dragon couldn’t change Lucky Dragon’s fortune.
Lucky Dragon officially opened Dec. 3, 2016, thanks in great part to EB-5 financing. With EB-5 financing, investors (typically from Asia) contribute funds to projects and get green cards in return. In the case of Lucky Dragon, those investors will henceforth be referred to as “the monumentally screwed.”
Here’s a statement from Lucky Dragon.
Every time a Las Vegas casino closes, an showgirl loses her tassels.
Lucky Dragon Las Vegas News
Optimism for the win!
Lucky Dragon Resort Las Vegas
Despite a strong opening, Lucky Dragon failed to attract its intended customers (including snagging local Asian customers who frequent casinos like Gold Coast and Palace Station), and has made a number of changes to its restaurant offerings.
Normally, this would provide some consolition, but not so much.
Lucky Dragon’s challenging location, on Sahara, just off The Strip, near the Bonanza Gift Shop and SLS Las Vegas, made the resort an long shot, but sometimes in Vegas those pay off.
A Lucky Dragon insider says wild swings in baccarat were major factor in the closure of the casino. Whales (however few) would win big, then leave for bigger resorts on The Strip with more amenities. Casinos obviously rely on guests staying on-site for a chance to win some back.
Remember, Las Vegas was built on miracles. We hope that’s what the future holds for Lucky Dragon.
Lucky Dragon Las Vegas Restaurants
We were rooting for Lucky Dragon, but haven’t visited in some time, despite the great rooms (we were quoted a rate of $45 for early February), welcoming casino and top-notch (although limited) cuisine.
Lucky Dragon Las Vegas Nv
We’ve heard Lucky Dragon would need at least $90 million from a buyer to cover its first and second (EB-5) tier investors.
It’s unknown what’s next for Lucky Dragon, but here’s hoping employees find other options as the resort tries to change its luck.