Andrew Fonfa, a developer of the Lucky Dragon hotel-casino just off the Las Vegas Strip, died at age 68.
Less than a year-and-a-half after it opened, the Lucky Dragon was in bankruptcy.
Less than a year and a half after it opened, the Lucky Dragon is in bankruptcy. Developers of the off-Strip, Chinese-themed resort filed for Chapter 11 protection on Feb. 16. The bankruptcy came less than a week before the property’s scheduled foreclosure auction. Lucky Dragon was the first resort built from the ground up in Las Vegas since the recession but has faced mounting problems.
Lucky Dragon, the struggling off-Strip hotel, is now facing foreclosure. A default notice was filed months ago, and a foreclosure auction is scheduled for Feb. 6. The Chinese-themed property is only a year old but has grappled with numerous problems. Crowds have been relatively small, workers have lost their jobs, and the casino and restaurants were temporarily closed.