SIGN UP LOG IN
 

Las Vegas: Lucky Dragon sold for $36 million

Published by

June 10, 2019 4:59 am

lucky dragon

The Lucky Dragon Hotel in Las Vegas was bought up. A reopening is planned but without a casino.

Actually, the Lucky Dragon was supposed to be auctioned last year. After there was however a delay for the original owners, the owner changed only in this year.

Don Ahern, CEO of Ahern Rentals, purchased the Lucky Dragon for $36 million. The building is to be reopened as a hotel under the same name. The casino will be replaced by conference rooms.

So far, the Lucky Dragon Hotel and Casino is considered one of the biggest bankruptcies in Sin City’s recent history. Although the construction costs were manageable at $165 million, the gates were not even open for two years.

The quick end had several reasons. First, developer Andrew Fonfa took over with a $90 million loan. On the other hand, the concept was doomed to failure.

The Lucky Dragon was supposed to attract Chinese high rollers with its strongly Asian style and generate 85% of the turnover through the casino. Today, however, casino revenues average less than 30%.

Another problem is the situation. The Lucky Dragon a block away from the north end of the strip. On top of that, the casino with only 2,550 square meters was too small, the 200 hotel rooms too few.

More News

League of Legends: Transfers of the week

League of Legends: Transfers of the week

After the Worlds 2019, the transfer carousel is spinning rapidly. Some teams use the off-season to restructure and refine their…

So far 150 Entries at the WSOPC Monster Stack

So far 150 Entries at the WSOPC Monster Stack

The €500+€50 WSOP Circuit Monster Stack Ring Event #9 has been running at King's Resort since Sunday, guaranteeing €551,750 in…

LoL Dominates Esports Prizes at The Game Awards 2019

LoL Dominates Esports Prizes at The Game Awards 2019

The MOBA League of Legends won a total of 4 out of 6 Esports-related prizes at The Game Awards 2019:…

E-Sports: LEC - SK Gaming in crisis

E-Sports: LEC - SK Gaming in crisis

Origen had a tough weekend, Rogue is not doing so well at the moment and what's going on with SK…

Game manufacturers earned 49.5 billion euros worldwide in 2018

Game manufacturers earned 49.5 billion euros worldwide in 2018

The manufacturers of online and offline games of chance can look back on a successful 2018 financial year. According to…

Switzerland: eSports no sport - no subsidies

Switzerland: eSports no sport - no subsidies

The Federal Office of Sport (FOSPO) published its report on eSports in Switzerland at the end of March. It states…

How Dario Manta became FIFA Swiss Champion 2019

How Dario Manta became FIFA Swiss Champion 2019

A good two weeks have passed since Dario Manta was crowned FIFA Swiss Champion at the Fantasy Basel. We look…

Alonso makes a plea for eSports

Alonso makes a plea for eSports

The former Formula 1 world champion Fernando Alonso can only report positive things about eSports. He has been involved in…

Fortnite brings new chaos item, immediately blocks it for eSports

Fortnite brings new chaos item, immediately blocks it for eSports

In Fortnite: Battle Royale, the developers immediately removed the new Storm-Turner from the game for eSports. The new item is…

E-Sport: Algerian pulls blank and flies out

E-Sport: Algerian pulls blank and flies out

Algerian professional footballer Haris Belkebla ruins his colleague's live stream in a very special way - and is kicked off…

LCK: SKT T1 on the way to the top

LCK: SKT T1 on the way to the top

Another extremely exciting day of the LCK is over and slowly, but surely SKT T1 is boxing its way through…

PSG.LGD and OG in the Upper Bracket Final of the Dota-2-WM

PSG.LGD and OG in the Upper Bracket Final of the Dota-2-WM

The Dota 2 World Championship The International in Shanghai is heading for home straight: five out of eighteen teams are…

Farewell to roulette! - Dusk Till Dawn removes the casino tables
Farewell to roulette! - Dusk Till Dawn removes the casino tables

At the end of the month, the famous Dusk Till Dawn casino in Nottingham will host partypoker MILLIONS UK with…

EPT Prague - Evgenii Shibaldin gets Platinum Pass
EPT Prague - Evgenii Shibaldin gets Platinum Pass

Yesterday, the PokerStars European Poker Tour (EPT) Prague 2019 saw a €26,000 Platinum Pass. In addition to day 2 at…

Fortnite World Cup 2019: Switzerland is well on the way!
Fortnite World Cup 2019: Switzerland is well on the way!

The qualifying phases of the 2019 Fortnite World Cup are in full swing, and several francophone players have already qualified.…

LoL imposes $1000 fine on G2 Esports for playing a Pro WoW Classic
LoL imposes $1000 fine on G2 Esports for playing a Pro WoW Classic

The developers of the League of Legends, Riot Games, have pronounced a penalty against the organization G2 Esports. Because their…

GTA 5 - This sports car is finally available online in GTA today
GTA 5 - This sports car is finally available online in GTA today

The Ocelot Jugular is now available for purchase in "GTA Online". Players had already expected the activation of the sports…

Caps debut and Fnatic against Origen: LEC starts on Friday
Caps debut and Fnatic against Origen: LEC starts on Friday

The wait is over, on Friday, the Spring Split of the LEC starts. Defending champion G2 Esports opens the new…

Overwatch League guest in Atlanta
Overwatch League guest in Atlanta

The Overwatch League stops in Atlanta this weekend for the second so-called Homestand. There the participants of the OWL have…

Recap: Natus Vincere and Team Vitality move into the semi-finals
Recap: Natus Vincere and Team Vitality move into the semi-finals

The first day of the ESL One Cologne 2019 Playoffs brought all spectators two rather fast games. Both Team Vitality…

No Juve at FIFA 20: CR7 now plays for Piemonte Calcio
No Juve at FIFA 20: CR7 now plays for Piemonte Calcio

Cristiano Ronaldo no longer plays at Juventus Turin - at least at FIFA 20. As a game manufacturer, EA Sports…

King's Resort - Deal decides the Big Monday
King's Resort - Deal decides the Big Monday

After the exciting days with the German Poker Days, the King's Resort has been back with a little peace and…

Mybetting Deals Tools

Surebet by BetBurger

Surebet by BetBurger

BetBurger is a service focusing on arbitrage bets, also known as sure bets. It turns sports betting into an investment.

Matched Betting by OddsMonkey

OddsMonkey

OddsMonkey offers matched betting services with features to enhance your profits with the best betting offers.

Live Sport Results and Statistics

Live Scores

Always keep ahead of the sports betting game with our real time results and statistics!

2000+ Free Slots

Play the best online slots and your favourites from the biggest developers for free right here!