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.
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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.