Monday, August 15, 2022

Lucky Dragon set for auction on Oct 30

Lucky Dragon hotel-casino, the shuttered Asian themed casino on the Las Vegas Strip is set to be sold to the highest bidder at the end of the month, according to a report from the Las Vegas Sun.

Built for $160 million in 2016, the property is set to go on auction on October 30, 2018.

Michael Parks, senior vice president of CBRE, a real estate firm helping broker the deal said the “amenity-rich property represents an excellent opportunity to own a first-rate Las Vegas hospitality property distinctly situated between the blossoming north end of the Strip and the gateway to downtown Las Vegas.”

“The immediate area is marked by the ongoing development of Resorts World; reimagination of the Drew, formerly known as Fontainbleau; a recently announced $100 million reinvestment in SLS; expansion and development of the Convention Center district; and 38 acres recently acquired by Wynn north of Fashion Show,” Parks said.

The resort includes a 203-room hotel, a 27,500 square foot casino floor, space for up to five restaurants and bars, a spa, outdoor swimming pool, fitness center, retail space and 408 parking spaces.

The auction is set for 10 am on October 30 at the Nevada Legal News building, 930 S. Fourth St., in downtown Las Vegas.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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