The Lucky Dragon's struggle is actually spurring another deal on the Strip that was lingering. The owner of Reno's Grand Sierra Resort announced last spring it was going to buy the SLS Las Vegas, which was once the old Sahara hotel-casino. However, the deal stagnated. Jan 15, 2019 The $165 million Lucky Dragon in Las Vegas, the casino resort that opened in November 2016 only to close less than two years later in in October 2018, reportedly has several interested buyers. A dragon chandelier hands over the casino floor at the Lucky Dragon hotel-casino under construction on Sahara Avenue near Las Vegas Boulevard South Monday, Nov. Others claimed that Asian customers would not necessarily take a trip all the way to Las Vegas to visit an Asian-themed resort. In addition, the property’s particular focus on customers from Asia was deemed a mistake by industry experts. As mentioned above, Lucky Dragon is expected to be sold at a bankruptcy auction on September 10. Nov 17, 2015 Operators Las Vegas Economic Impact Regional Center and Lucky Dragon LP have formally approached the City of Las Vegas for 'tax increment financing,'. 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.
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You want scoop, you’ve got it. We’re hearing Alex Meruelo, buyer of SLS Las Vegas, is working on a deal to acquire the ailing Lucky Dragon.
A source shares that Meruelo goes before gaming next week related the SLS sale, but is expected to also express his intention to buy the Lucky Dragon.
The potential of SLS and Lucky Dragon being owned by the same company opens up some fascinating possibilities.
Lucky Dragon closed its casino and restaurants in Jan. 2018, and was supposed to go on the auction block on Feb. 6, but the auction was pushed back to Feb. 22, 2018.
That new date could very well have been impacted by discussions between Lucky Dragon, its lenders and Meruelo Group.
In an interesting twist, it was the closure of Lucky Dragon that apparently shook loose the stalled sale of SLS.
The sale of SLS has been a tad bumpy, with investor lawsuits flying and the powerful Culinary Union taking jabs at Alex Meruelo because he might oust the union as a cost-saving measure.
Who Owns The Lucky Dragon Las Vegas Closed
In SLS news, a source with direct access to SLS insiders says the rebranded resort is likely to be called Grand Sahara.
Lucky Dragon Las Vegas Hotel
It’s believed all the existing SLS restaurants will be out when the new ownership takes over, with an eye toward mirroring amenities of Grand Sierra Resort in Reno.
Lucky Dragon Las Vegas Nv
There’s more to come, so stay tuned, a saying we fully acknowledge is now about as relevant as “bee’s knees” and “cat’s pajamas.”