Despite the improved economy, land sales on the Strip have been sluggish for years, and values are nowhere near what sellers fetched before the economy crashed.
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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.
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.
Spanning 26 acres of beachfront property, the latest project by a subsidiary of MGM Resorts won’t have slot machines or poker tables, but will boast 1,000 rooms, a “dazzling” theater and a snorkeling area. It will also be in Dubai — a Middle Eastern city the company knows all too well.