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.
The Las Vegas-based company – which operates casinos, the PT’s Pub chain and a network of slot machines and video poker in bars, grocery stores and other locations – on Thursday reported a $3.1 million loss for the three months ending Sept. 30. That’s compared to about $8.5 million in profit during the same period last year.
The Lucky Dragon’s main lender foreclosed on the shuttered resort Tuesday, opening a new chapter in the Las Vegas hotel’s short but troubled history.
With a string of casinos along the Colorado River some 100 miles southeast of Las Vegas, Laughlin is popular with retirees who drive in and offers low-priced rooms, buffets and plenty of sunshine and open desert.
It’s not every day that people walk around with tens of millions of dollars in cashier’s checks stuffed in a bag.
SLS Las Vegas owner Alex Meruelo has kicked off his $100 million upgrade of the 1,600-room resort.
The off-Strip Lucky Dragon, which opened less than two years ago, has fully shut down and is scheduled to come up for sale at a foreclosure auction Oct. 30. The property is now surrounded by chain-link fencing.
A few weeks before the Lucky Dragon held its grand opening with dragon and lion dancers, a top executive promised big things. Less than two years later, the bankrupt resort is set for a full shutdown.
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.
Several months after its casino building closed, the Lucky Dragon’s hotel tower could soon be shuttered too.
