The shuttered Lucky Dragon casino resort (pictured) is to be sold at auction later this month, reports the Las Vegas Sun newspaper.
The US$160-million venue – near the north end of the Las Vegas Strip in the Nevada gaming hub in the United States – opened in December 2016, with the aim of appealing to Asian customers. Its promoter Lucky Dragon Hotel and Casino LLC filed for voluntary bankruptcy in Nevada in February this year.
Prior to the venue’s opening, its website described William Weidner, a former president and chief operating officer of casino group Las Vegas Sands Corp, as a senior advisor for the scheme. Also originally associated with the project was Andrew Fonfa, developer of a US$240-million condominium project called Allure Las Vegas, located next to the Lucky Dragon site.
The to-be-auctioned Lucky Dragon property is said to include a 203-room hotel, a 27,500-square-foot (2,555-sq-metre) casino floor, space for five restaurants and bars, a spa, outdoor swimming pool, fitness centre, retail space and 408 parking places on 2.51 acres (1 hectare) fronting Sahara Avenue, just west of the Las Vegas Strip.
The venue is near to where Malaysia’s Genting group is working toward building a Chinese-themed casino property called Resorts World Las Vegas.
The Lucky Dragon auction is scheduled for October 30.
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”Our own consensus is that any newcomers to this [junket] sector should be corporatised, and should be financially sound and able to commit a higher guarantee deposit”
Kwok Chi Chung
President of junket trade body, the Macau Association of Gaming and Entertainment Promoters