Year-old Vegas hotel with closed casino facing foreclosure
LAS VEGAS (AP) — Records say an Asian-themed Las Vegas casino-hotel that shuttered gambling and restaurant operations this month after being open for about a year is facing foreclosure.
The Las Vegas Review-Journal reports that Clark County documents show the Lucky Dragon is scheduled for auction Feb. 6, but that repossession or sale at auction wouldn’t necessarily mean the hotel would close.
The property near the Las Vegas Strip announced Jan. 4 that its 200 guest rooms, gift shop and tea lounge would remain open while it began a six-month repositioning process.
Lucky Dragon executives had said the property would focus on domestic Chinese gamblers.
The casino was financed with money from Chinese investors through the EB-5 visa program, which grants green cards to foreigners in return for investments of at least $500,000 on job-creating projects.