Lucky Dragon casino was supposed to be a Vegas hot spot for Asians. Two years later, it’s going up for auction

 

Reporting from Las Vegas — It opened up in the Year of the Monkey and closed in the Year of the Dog — a two-year stretch of bad fortune for a casino that once had designs on being the go-to place for an authentic Asian experience in Vegas.

The official end probably will come the morning of Oct. 30, in a small parking lot tucked away from the bright lights of the Las Vegas Strip. That is where the Lucky Dragon Hotel and Casino is scheduled to be auctioned off to the highest bidder.

It’s unclear who might scoop up the property. When an auction was scheduled in February, Derek Stevens, owner of the D Hotel and Casino, showed up and rumors swirled he was interested. But he said at the time he was just an interested observer.

A few others in suits and sleek black cars parked along the road and idled in the lot, waiting for the auction to start. When told there wouldn’t be an auction after all, they slipped silently back into their cars to bid another day. Michael Parks, senior vice president of the real estate and investment firm CBRE, said the auction will be held this time, and that there is interest in the property.

“For the right visionary and owner, this site and amenity-rich property represents an excellent opportunity to own a first-rate Las Vegas hospitality property,” he said.

Since the Lucky Dragon opened in December 2016 as the first casino to be built from the ground up since the Great Recession, its gleaming red exterior has belied a troubled interior, tied to high debts, low visitor traffic and being a newcomer trying to court a demographic already loyal to existing casinos.카지노사이트