Operator News
US – Las Vegas’ unlucky Dragon to be sold at auction
By Phil - 15 October 2018
The Lucky Dragon Hotel & Casino located at 300 West Sahara Avenue, Las Vegas, NV 89102, will sell at auction to the highest cash bidder on Tuesday, 30 October.
When built less than 24 months ago, the property was the first ground-up hotel/casino constructed in Las Vegas since the recession. More than $160m was invested to complete the project, which includes a 222,548-square-foot, 203-room hotel, 27,500-square-foot casino and 408 parking spaces on 2.51 acres of land. Today, the property comes to market free of all encumbrances and offers clear title to its new owner.
The new owner will gain a property designed by renowned Las Vegas architect Ed Vance and Associates, and constructed by the Penta Building Group. Features include five restaurants and bars, a full spa, casino space with substantial VIP gaming areas, outdoor swimming pool and hot tub, retail area, business center and fitness center.
“The auction on 30 October is the single path to new ownership for this recently constructed hotel/casino property located just west of Las Vegas Boulevard,” said Michael Parks. “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 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 Fontainebleau; 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.”
