Bankrupt Lucky Dragon Hotel & Casino in Las Vegas bought for $36m
The Lucky Dragon Hotel & Casino in Las Vegas has been bought from bankruptcy for $36m.
Bankrupt casinos in the U.S. are nothing new. You have only to look back to 2014 when no less than four casinos went bankrupt in Atlantic City. This time around the story is about a bankrupt casino in Las Vegas. The Lucky Dragon Hotel & Casino, which had been closed for about six months, has now been picked up by a buyer for $36m.
Lucky Dragon Hotel
Just opening its doors in 2016, the Asian-themed resort struggled to attract big crowds. It was an ambitious $139 million project which was forced to close its doors beginning with the casino and restaurant in January 2018 followed by the hotel in March 2018.
Purchased for $36 million
The buyer, Ahern Rentals, will reopen the casino as a hotel with a conference and convention space.
The Lucky Dragon Hotel & Casino is a 9-storey hotel with 203 rooms, no less than 5 restaurants and a spa – not to mention 203 rooms! The property is built on 2.5 acres. Perhaps this is what attracted a Las Vegas construction and equipment firm called Ahern Rentals. The company plans to reopen it as a hotel with conference and convention space.