The developer said he owes approximately $25 million to $30 million for work on the resort, and that construction “will restart once the terms of the financing are finalized.”
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Station Casinos has loaded up on more land in Las Vegas, closing a big purchase just a few days after it unveiled plans to demolish three hotels in Southern Nevada.
It’s unclear when Station would develop a project or if the company has drawn up plans for one. But its purchase is a wager on a fast-growing area and is a throwback to the pre-recession days , when the company loaded up on future resort sites before Station went bankrupt.
Less than two years after it opened, the Lucky Dragon’s hotel tower is set to close and the property is again headed toward a foreclosure sale.