A failed Las Vegas casino was bought earlier this week, according to a report from the Las Vegas Review-Journal.

The Lucky Dragon flung open its doors at short notice and two weeks early on Saturday to give visitors a glimpse of the first casino to open on the Strip in six years, since the Cosmopolitan. Aug 26, 2016  Lucky Dragon just west of SLS Las Vegas plans to open its hotel and casino by the end of the year, and now the resort reveals its entire roster of restaurants.Willy Ng, who runs Koi Palace. PR Newswire, LAS VEGAS, December 7, 2016 The highly anticipated Lucky Dragon Hotel & Casino, the first in Las Vegas to offer an authentic Asian gaming, dining and lifestyle experience, is now open to the public.The property commemorated the milestone with a Grand Opening Celebration held on Saturday, Dec.

Don Ahern, chairman of the board and CEO of construction equipment company Ahern Rentals, purchased the closed Lucky Dragon Hotel and Casino from Snow Covered Capital for $36 million.

The Asian-themed casino opened in December 2016 and was the first new casino in Las Vegas since Aria was opened in 2010. It was a $139 million project located just north of the strip.

The casino struggled from the start, however, and by March 2017, approximately 100 of the 800 employees were fired as a result of poor customer turnout. In September of that same year, the Lucky Dragon received a default notice on its $90 million loan.

In January 2018, the casino and restaurants were closed in an effort to reorganize the company and reopen within six months. A foreclosure notice was filed the following month. At the time of foreclosure, there was still $48.9 million remaining on the loan.

Lucky Dragon entered Chapter 11 bankruptcy, which temporarily preserved the jobs of the remaining 98 hotel employees. The hotel closed in March of 2018.

Snow Covered Capital, the resort’s main lender, took ownership of the property and set the opening bid for the property at $35 million at the foreclosure auction last October. It received no bids.

The property features a nine-story hotel with 203 rooms and 27,500 square feet of gaming space. When the property was open, there were five restaurants and a spa as well.

Lucky Dragon Las Vegas Wiki

LAS VEGAS, NV, May 05, 2016 (Marketwired via COMTEX) --Project Is Fully Financed as a Result of Financial Commitments and Guarantees Provided by Principals

LAS VEGAS, NV--(Marketwired - May 5, 2016) - The Las Vegas Economic Impact Regional Center will open Lucky Dragon Hotel & Casino, the city's first resort delivering an authentic Asian cultural and gaming experience. Financial commitments provided by the Fonfa and Weidner families have guaranteed the project will be completed on schedule in late 2016.

'Our principals have provided the financial commitments necessary to ensure Lucky Dragon's development remains on track for an opening later this year,' said David Jacoby, Chief Operating Officer of Lucky Dragon. 'As the first ground up casino development in Las Vegas in six years, the opening of Lucky Dragon Hotel & Casino will mean more options for Las Vegas visitors and locals alike. We are filling a niche in Las Vegas and we're thrilled to bring such a carefully curated array of Asian-focused gaming options, restaurants and amenities to Las Vegas.'

Lucky Dragon will position itself as Las Vegas' first casino resort to deliver an authentic Asian lifestyle experience. It will be a community gathering hotspot for Asian visitors, locals and anyone looking for the best Pan-Asian food and excitement in town. The resort will feature details such as signage in Chinese first and English second, a multilingual staff and the city's only indoor/outdoor high-end tea garden and lounge. All aspects of the hotel and casino's design have been influenced by the rich traditions of Asian culture. Designed by architects Ed Vance & Associates, the project is located close to the north end of the Las Vegas Strip at 300 W. Sahara Ave. Lee Cagley Design designed the interior with consultation on cultural authenticity by Feng Shui master Lin Huang at Qi Gallery.

GAMING The resort's 27,500 square-foot casino will focus on tables games popular in Asia, such as Baccarat and Pai Gow, with only a few 'Western-style' tables such as Blackjack. The gaming floor will be centered on a lively pagoda-shaped bar punctuated by a 1.25 ton glass dragon sculpture suspended from the ceiling. In addition to a high-limit gaming area called the Emerald Room, Lucky Dragon will also feature ultra-luxurious VIP gaming on the second level.

Lucky Dragon Las Vegas Wikipedia

RESTAURANTS One of Lucky Dragon's key elements will be its collection of restaurants, designed to be among Las Vegas' most authentic Pan-Asian dining destinations. In addition to the below restaurants, Jewel Kitchen will be the only show kitchen in the city that extends directly onto the casino floor and will serve as the hub of Lucky Dragon's culinary action.

A night market will emulate the vibrant street food markets of Asia, and will serve an ever-changing menu of dishes including regional delicacies, fresh and live seafood, dim sum, barbecue, boba tea and more for breakfast, lunch and dinner.

A dim sum restaurant will feature live exotic seafood flown in daily and will be among the finest dim sum served in North America.

A fine dining restaurant will boast a menu of rare Chinese and Asian delicacies to attract the region's most discerning palates. The 60-seat restaurant will feature a private balcony and an extensive wine list.

HOTEL With 204 total hotel rooms, Lucky Dragon will offer a boutique accommodation experience near the Las Vegas Strip action. In addition to standard rooms, the hotel will also offer 23 standard suites averaging 625 square feet. The top floor of the hotel will feature a luxurious 1,300 square foot penthouse suite offering panoramic views of the Las Vegas Strip, and a formal dining space suitable for catered meals, events and more.

TEA GARDEN Lucky Dragon's tea program will be among the most specialized in the city. Served in the hotel's indoor-outdoor tea garden and lounge area, the program will be helmed by Las Vegas' only tea sommelier. Offerings will include teas sourced directly from generations-old farms throughout Asia, as well as varietals sold nowhere else in the city. For guests seeking to maximize their experience, custom-built Gongfu tables will allow them to experience the traditional Chinese tea ritual ceremony. The tea garden will be punctuated by a delicate waterfall, powerful oak trees and a shoreline swimming pool.

SPA A 4,500 square-foot spa will focus on reflexology treatments and also feature four traditional treatment rooms, including one wet treatment room and one couple's room. The spa will offer a full range of scrubs, massages, acupuncture, Chinese herbal medicines and total relaxation techniques.

Lucky Dragon Hotel & Casino will be located next to the 427-unit Allure Las Vegas high-rise tower, which principals of the hotel helped develop and master plan. Booking for Lucky Dragon will be available this summer.

Lucky Dragon Las Vegas Hotel

***Images available at: http://bit.ly/21yeo12***

About Lucky Dragon Hotel & Casino Lucky Dragon Hotel & Casino is Las Vegas' first casino resort designed from the ground up to create an authentic Asian cultural and gaming experience. The resort, located at the north end of the Las Vegas Strip, is scheduled to open late 2016. Features of the property include a nine-story hotel with 204 rooms, of which 24 are suites; 27,500 square feet of casino space with an emphasis on table games including Baccarat and Pai Gow as well as slots, a high limit gaming area known as the Emerald Room and a luxurious VIP gaming parlor; a pool designed to create an oasis garden escape for hotel guests; a spa with four treatment rooms including reflexology and acupuncture; an indoor-outdoor Tea Garden featuring an extensive list of tea curated by Las Vegas' only tea sommelier; five Asian-inspired restaurant concepts; and staff and signage to accommodate guests from throughout Asia as well as English-speaking guests. Follow Lucky Dragon Hotel & Casino on Facebook, Twitter and Instagram for the latest news and updates.

Lucky Dragon Las Vegas Restaurants

Press ContactsRachel Henry / May WildmanKirvin Doak Communications702.737.3100luckydragonpr@kirvindoak.com

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