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

5th matchday of the LEC powered by Shell

5th matchday of the LEC powered by Shell

Together with LEC sponsor Shell, the Recap of the 5th matchday: Upsets, Roster-Changes and a disappeared Rekkles! On the 5th…

FIFA 20: Bundesliga - DFB launches ePokal

FIFA 20: Bundesliga - DFB launches ePokal

To the Bundesliga, there will also be a separate ePokal in FIFA 20 in the coming season, which will be…

3x3 Basketball: Three ways lead to Tokyo

3x3 Basketball: Three ways lead to Tokyo

The qualification for the first Olympic tournament in 3x3 Basketball is possible in three ways. Four tickets each for Tokyo…

Partypoker: Rob Yong now with Challenge

Partypoker: Rob Yong now with Challenge

For a long time, it was quiet around side bets and challenges at the high stakes tables. - The Galfond…

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…

LEC teams dominate LoL summit meeting

LEC teams dominate LoL summit meeting

Fnatic, Origen and G2 Esports have won the Rift Rivals 2019 against North America on behalf of the European League…

Live final in Malaysia - €25,000 prize money for a new season of Esports

Live final in Malaysia - €25,000 prize money for a new season of Esports

After the great success of the first Esport WTCR OSCARO at RaceRoom 2018, the new season offers even more. Simracers…

Real Madrid lose out on top of Majorca table

Real Madrid lose out on top of Majorca table

Spanish football record-holders Real Madrid lost the lead to arch-rivals FC Barcelona on Matchday 9 of the Primera División. The…

For Mbappé: PSG wants Mega-Release and Real-Youngster

For Mbappé: PSG wants Mega-Release and Real-Youngster

PSG megastar Kylian Mbappé (20) is currently dominating the headlines once again. One is his dream goal against Nantes by…

Kobe Bryant dies in a helicopter crash! -

Kobe Bryant dies in a helicopter crash! - "They're flying too low"

Basketball legend Kobe Bryant is dead. The 41-year-old died in a helicopter crash. This was announced Sunday night. According to…

Is the Hard Rock Casino & Hotel returning to Las Vegas?

Is the Hard Rock Casino & Hotel returning to Las Vegas?

The chairman of Hard Rock International and CEO of Seminole Gaming, Jim Allen, has indicated his interest in returning to…

Juventus begins protecting their title against Sampdoria at the beginning of the 2020-21 season

Juventus begins protecting their title against Sampdoria at the beginning of the 2020-21 season

Juventus will dispatch their 10th straight Italian soccer title with a home match against Claudio Ranieri's Sampdoria on the few…

The underdog creates the sensation
The underdog creates the sensation

After the performance that Invictus Gaming delivered in the group phase of MSI 2019, no one expected that a team…

Los Angeles Lakers beat the Miami Heat and came within one step of the title
Los Angeles Lakers beat the Miami Heat and came within one step of the title

The Los Angeles Lakers won the fourth game of the NBA Finals against the Miami Heat by 102 to 96.…

Gambling achieves 50 billion Euro turnover in 2018
Gambling achieves 50 billion Euro turnover in 2018

The Association of Gaming Equipment Manufacturers has published figures for 2018. The study focused on the importance of the gaming…

After Werder farewell: FIFA World Champion
After Werder farewell: FIFA World Champion "MoAuba" has a new team

FIFA19 World Champion Mohammed "MoAuba" Harkous has found a new club. The eSportsman, last season still active in the jersey…

Germany - Any luck with the gambling treaty?
Germany - Any luck with the gambling treaty?

The next attempt to change the State Treaty on Gaming is one of the central topics at the Gaming Summit…

Nadal enjoys US Open triumph after tennis thriller
Nadal enjoys US Open triumph after tennis thriller

Rafael Nadal buried his face in his hands and cried. When the pictures of his 19 Grand Slam victories were…

Lottery player bets six correct numbers - this gigantic sum awaits him now
Lottery player bets six correct numbers - this gigantic sum awaits him now

This is the third highest win in lottery history ever paid out. A lucky guy has now guessed all the…

LeBron in the crossfire: China-Zoff splits the NBA
LeBron in the crossfire: China-Zoff splits the NBA

LeBron James doesn't want to talk anymore, at least not about China. Not about his remarks about the Twitter crisis,…

South Korea back at the top - Euphoria at the Worlds
South Korea back at the top - Euphoria at the Worlds

The group phase of the League of Legends World Cup is over, and the balance of power between the individual…

Gambling mishaps international - not only in Germany
Gambling mishaps international - not only in Germany

Those who sat in front of the television last Saturday full of suspense with their lottery ticket and were waiting…

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!