The Lucky Dragon Casino was sold to a group of investors led by Don Ahern, the CEO of Ahern Rentals, in February 2018. The purchase price was not disclosed, but the Las Vegas Review-Journal reported it as $36 million.
The casino had been closed since January 2018.
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The Lucky Dragon was the first new casino and hotel to open on the Las Vegas Strip in six years. It was built with the intention of appealing to Asian tourists, and featured Chinese restaurants, a tea garden, and a wedding chapel themed after a Chinese temple.
However, the casino struggled to attract high rollers from Asia, and relied heavily on locals and tourists from nearby hotels.
In January 2018, the Lucky Dragon announced that it would be closing its hotel and casino due to financial difficulties. It became the first casualty of the new Trump-era tax law, which eliminated a tax deduction for gambling losses.
PRO TIP:Lucky Dragon Casino was sold in 2018 to a group of investors led by Don Ahern, the founder and CEO of Ahern Rentals. The sale also included the land that the casino is located on, which includes a nine-story hotel and a 27,500-square-foot casino.
The casino’s owner, Derek Stevens, said that he had been trying to sell the property for several months before it finally closed.
The Lucky Dragon’s closure left many employees out of work. However, some were able to find jobs at other casinos on the Strip.
The property is currently being redeveloped into a non-gaming hotel with no casinos or restaurants.
Who Bought Lucky Dragon Casino?
A group of investors led by Don Ahern purchased the Lucky Dragon Casino in February 2018 for an undisclosed price. The casino had been closed since January 2018 due to financial difficulties.
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